Question

    According to the Indo-Nepal Remittance Facility Scheme,

    what is the maximum number of remittances in a year?
    A 9 Correct Answer Incorrect Answer
    B 10 Correct Answer Incorrect Answer
    C 11 Correct Answer Incorrect Answer
    D 12 Correct Answer Incorrect Answer
    E 15 Correct Answer Incorrect Answer

    Solution

    The Scheme leverages the National Electronic Funds Transfer (NEFT) ecosystem available in the country for origination of such remittances and entails a ceiling of ₹50,000 per remittance with a maximum of 12 remittances in a year. The beneficiary receives funds in Nepalese Rupees through credit to her / his bank account maintained with the subsidiary of State Bank of India (SBI) in Nepal, i.e., Nepal SBI Bank Limited (NSBL) or through an agency arrangement.

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