Kathmandu. Now it is possible to send money from India to the bank account of Nepal. Nepal Rasht Bank issued a circular under the Indo-Nepal Remittance Facility Scheme. Remittance from India to Nepal, as per the agreement of Nepal Rastra Bank and Reserve Bank of India, the bank account opened by Nepali citizens in Indian banks and financial institutions through electronic banking (e-banking), interbank payment, mobile banking and national payment switch through QR code through Nepal Commercial Bank and National Bank. They can send money so that it is received in the personal account opened in the level development bank.

Bank accounts opened by Indian nationals working in Nepal in Nepali commercial banks and national level development banks are eligible for electronic banking (e-banking), inter-bank payments, mobile banking, national payment switches through QR codes, and personal accounts opened in Indian banks and financial institutions through personal accounts opened in Indian banks and financial institutions. It has been arranged that a sum of one lakh Indian rupees can be provided for the salary.

The foreign currency converted from the sale of goods and services by Nepali businessmen can be accepted through the national payment switch through the QR code issued abroad to be received in the account opened in the Nepali Commercial Bank and the National Development Bank. It is mentioned in the circular that the related commercial banks and national level development banks should analyze and manage all the risks inherent in such transactions and the measures to resolve/minimize them.

An agreement was signed last August between Nepal's Phone Pay and India's National Payments Corporation of India (NPCI) to operate cross-border QR payments. An agreement was reached between Nepal Clearing House Limited (NCHL) and NPCI International Payments Limited (NIPL) last May regarding cross-border payments.