The Reserve Bank of India has increased the limit of fund transfer under the Indo-Nepal Remittance Facility Scheme from Rs 50,000 per transaction to Rs 2 lakh per transaction. Earlier there was a ceiling limit of 12 transactions in a year. Now, this limit has also been removed. However, for cash-based transfers under the Indo-Nepal Remittance Facility, the per transaction limit of Rs 50,000 will still be present with a maximum number of transfers in a year allowed at 12.
About the Indo-Nepal Remittance Facility:
Indo-Nepal Remittance Facility is a fund transfer mechanism from India to Nepal (not otherwise) that operates on NEFT. It was started by RBI in the year 2008. It is managed by SBI in India and Nepal SBI Bank Limited (NSBL) in Nepal.
In an important development in India’s judiciary, Justice Manoj Kumar Gupta was appointed as the…
A heart-touching and socially meaningful incident took place in Visakhapatnam (Andhra Pradesh), where a book…
India’s fintech ecosystem achieved a key regulatory milestone as Skydo received final authorisation from the…
World Hindi Day 2026 (also known as Vishwa Hindi Diwas) is observed every year on…
Many cities around the world are given special names because of what they are best…
In ancient India, many powerful kings ruled large empires and were known for their bravery,…