RBI enhances transaction ceiling under ‘Indo-Nepal Remittance Facility scheme’ from Rs. 50,000 to Rs. 2 lakh

The RBI has made enhancements to the Indo-Nepal Remittance Facility Scheme, whereby the ceiling per transaction has been increased from Rs. 50,000 to Rs. 2 lakh and the cap of 12 remittances in a year per remitter has been removed. The enhanced limit is effective from October 1, 2021. The enhancement has been made to boost trade payments between the two countries, as also to facilitate person-to-person remittances electronically to Nepal.The RBI has made enhancements to the Indo-Nepal Remittance Facility Scheme, whereby the ceiling per transaction has been increased from Rs. 50,000 to Rs. 2 lakh and the cap of 12 remittances in a year per remitter has been removed. The enhanced limit is effective from October 1, 2021. The enhancement has been made to boost trade payments between the two countries, as also to facilitate person-to-person remittances electronically to Nepal.taxmann.com Latest Statutory HappeningsRead More

Leave a Reply