Digital payment service will start soon in Bharat-Nepal, new guidelines issued
Bharat-Nepal: Nepali nationals can now use digital transactions to send Rs 2 lakh from India to Nepal by the new guidelines. In addition, walk-in clients can send up to Rs 50,000 for each transaction.
Shankar Prasad Sharma, the ambassador of Nepal to India, commended the Reserve Bank of India's new guidelines on Saturday, stating that they will increase the availability of digital financial services between Nepal and India. Nepali nationals can now use digital transactions to send Rs 2 lakh from India to Nepal according to the new guidelines. In addition, walk-in clients can send up to Rs 50,000 for each transaction.
Along with this, he informed that for the convenience of UPI in Nepal, Unified Payment Interface-Nepal Clearing House Limited will be inaugurated soon. After this, the inconvenience of carrying cash between India and Nepal will end. According to the new instructions of RBI, Nepali account holders have been allowed to send Rs 2 lakh per transaction.
Apart from this, customers can send an amount of Rs 50,000 to Nepal by being personally present 12 times in a year. In June 2023, NPCI International Payments Limited (NIPL) and Nepal Clearing House Limited (NCHL) announced to facilitate cross-border digital payments between the two countries by integrating India's UPI and National Payments Interface. It will be named NPI in Nepal.
