Nepal Remittance Scheme is a cross-border one-way remittance facility scheme for remittance from India to Nepal, enabled under the NEFT Scheme. A remitter can transfer funds up to Indian Rupees.....(maximum permissible amount) from any of the NEFT-enabled branches in India.

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

Nepal Remittance Scheme is a cross-border one-way remittance facility scheme for remittance from India to Nepal, enabled under the NEFT Scheme. A remitter can transfer funds up to Indian Rupees____(maximum permissible amount) from any of the NEFT-enabled branches in India.

A	Rs 2, 00, 000
B	Rs 1, 00, 000
C	Rs 1, 50, 000
D	Rs 50, 000

Explanation:

Detailed explanation-1: -Ans: One can remit upto ₹2 lakhs per transaction to the beneficiary residing in Nepal; provided the sender maintains account with any NEFT enabled bank branch in India. Walk-in / Non-customer can remit upto ₹50, 000 per transaction to Nepal residing beneficiary. 3. Is there any limit on number of such transactions?

Detailed explanation-2: -The INRF Scheme exclusively uses NEFT ecosystem for such remittance to Nepal and as such all NEFT enabled bank-branches are already covered under Scheme.

Detailed explanation-3: -Indo-Nepal Remittance The remittances will be routed through the Payment System Group (PSG) of State Bank of India (SBI) in India and Nepal SBI Bank Ltd (NSBL) in Nepal. 44000 branches of Indian Banks on Core Banking Platform linked to NEFT system of RBI are enabled to process the remittances.

Detailed explanation-4: -EBL is providing Speed Remittance facility through which EBL customer can remit fund from Nepal to branches of PNB India. This is an online fund transfer facility and modern concept in remittance service in the history of Nepal. EBL facilitates the customer to remit their funds to banks other than PNB in India.

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