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INDO-NEPAL REMITTANCE SCHEME
What is the Indo-Nepal Remittance Scheme and under whose authority does it operate?
The Indo-Nepal Remittance Scheme is a cross-border money transfer facility enabling residents in India to remit funds to Nepal. It operates under the Foreign Exchange Management Act (FEMA) 1999 and guidelines issued by the Reserve Bank of India.
Who launched the Indo-Nepal Remittance Scheme and in which year?
RBI launched the scheme in 2008 in coordination with Nepal Rastra Bank.
What is the maximum amount that can be remitted per transaction under the Indo-Nepal Remittance Scheme?
The maximum amount per transaction under the Indo-Nepal Remittance Scheme is Indian Rupees 50,000.
What is the minimum amount that can be remitted under the Indo-Nepal Remittance Scheme?
There is no specified minimum; even small amounts can be remitted.
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