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.
Water is the most important drink in the world because every living being needs it…
When we think about continents, we usually imagine green forests, tall trees and rich plant…
Defense sector of the India has achieved the historic milestone as the defense exports reached…
The Delhi state government has introduced the 'Lakhpati Bitiya Yojana'. This new is scheme aimed…
Ashwini Bhide has been appointed as the first woman Municipal Commissioner of the Brihanmumbai Municipal…
Lok Sabha passed the resolution and Amaravati has been declared sole capital of Andhra Pradesh.…