Indo-Nepal Remittance System – Measures to enhance usage

I was not aware of this remittance facility started by RBI and Nepal Central bank for migrant workers of Nepalese origin working in India to remit savings back to Nepal.

RBI points despite the facility there are very few takers. There is lack of information both at banks and customer’s level. RBI points to some errors being conducted which leads to rejection by banks to remit. The note says that banks should take efforts to educate Nepalese migrants about this facility so that they could remit savings in a cost0efficient manner.

Lack of banking channels for remittance could in turn be leading to informal channels of remitting finance to Nepal. I am wondering what are those..

Interesting stuff. Makes for a nice case study and a random evaluation experiment..

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One Response to “Indo-Nepal Remittance System – Measures to enhance usage”

  1. money transfer software Says:

    I would stay away from informal means. There should be other formal channels you can persevere.

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