Quick Summary
Reserve Bank of India RBI/2021-22/94 CO.DPSS.RPPD.No.S475/04.09.003/2021-22 August 27, 2021 The Chairman / Managing Director / Chief Executive Officer of all banks participating in NEFT Madam / Dear Sir, Enhancements to Indo-Nepal Remittance Facility Scheme The Indo-Nepal Remittance Facility Scheme (Scheme) was launched by the Reserve Bank of India in May 2008 as an option for cross-border remittances from India to Nepal, with special focus on requirements of migrant workers
Daily Limit Reached
You have reached your daily limit of 2 Free Notice & Circular
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited Notice & Circular Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
2 Years PLAN
3499
(Excl. of GST ₹629)
BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)
View all CCI PRO benefits
Already a PRO member? Login here for an ad-free experience. 07941056694
FAQ :
The Indo-Nepal Remittance Facility Scheme, launched in May 2008, allows cross-border remittances from India to Nepal, primarily for Nepali workers in India, using the NEFT system.
The ceiling per transaction has been increased from ₹50,000 to ₹2 lakh.
No, the previous cap of 12 remittances per year per remitter has been removed for electronic remittances.
No, the original limits of ₹50,000 per remittance and a maximum of 12 remittances per year still apply for cash remittances from walk-in or non-customers.
These enhancements to the Indo-Nepal Remittance Facility Scheme will come into effect from October 1, 2021.
The enhancements aim to boost trade payments between India and Nepal and facilitate person-to-person electronic remittances, including payments for ex-servicemen settled in Nepal.
CAclubindia
Source : https://www.rbi.org.in/Scripts/NotificationUser.aspx?Id=12155&Mode=0