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Remittances growth slowed to 6.3 percent in the third quarter of the current fiscal year 2016/17, down from 13 percent in the corresponding period of the last fiscal year. Acc...  [more...]
"Inflation cools down to 3.3 percent" Growth rate of remittances inflow continued to decline in the first seven months of the current fiscal year. According to th...  [more...]
How is the money sent by Nepalis working abroad used at home country? The answer one would generally get is “in consumption” and the response seems plausible for t...  [more...]
Remittance growth plummeted sharply over the months last fiscal, as spending capacity of the oil exporting countries declined along with rampant fall in oil prices since last yea...  [more...]
Remittance growth has slowed down over the last couple of months this fiscal as the rampant fall in oil prices since last year has adversely affected the spending of the governme...  [more...]
If remittance entering the country were to drop by 10 percent, Nepal’s annual economic growth could drop by up to 3 percentage points compared to baseline forecasts, says a...  [more...]
Many may not believe it but Nepal is the seventh largest country to send remittance to India. According to PewReserchCenter, remittances worth $3.34 billion were sent from Nep...  [more...]
Banks and remittance companies have said that there has been a sudden surge in remittance inflow following the devastating earthquake on April 25. The surge has been attribute...  [more...]
Remittance inflow continued to decelerate in the first seven months of the current fiscal year, recording growth of only 2.9 per cent, exerting pressure on the current account an...  [more...]
The country continued to witness sluggish growth in remittance in the fifth month, as in the previous months of this fiscal 2014-15, with a mere 2.7 per cent increase compared to...  [more...]
Negligible growth seen in remittance income in the first four months of the current fiscal year has worried Nepal Rastra Bank (NRB), as the central bank fears continuity of this ...  [more...]
Money transfer agencies are still leaders when it comes to bringing in remittance despite the involvement commercial and development banks in the business, a Nepal Rastra Bank (N...  [more...]
People will not be able to get remittance in cash from commercial and development banks after a year, with the Nepal Rastra Bank (NRB) on Sunday directing these banks to make arr...  [more...]
Remittance inflows have declined for the second straight month amid a surge in imports triggering concern about a possible impact on the economy. Nepal Rastra Bank (NRB) has b...  [more...]
Global IME Bank Ltd and IDBI Bank of India have signed a Memorandum of Understanding to facilitate remittance services between Nepal and India. Global IME CEO Ratna Raj Bajrac...  [more...]
The remittance growth rate has fallen drastically in the first month of the current fiscal year, raising suspicion that formal banking channel may be losing its efficiency, which...  [more...]
The Western Union has announced a weekly promotion offering consumers to double their received money on the occasion of its twentieth anniversary of providing international money t...  [more...]
The migrant workers abroad are sending home about Rs 1.5 billion on an average each passing day. Nepal has received Rs 397.8 billion so far in last nine months since the fiscal ye...  [more...]
Civil Bank and Al Ansari Exchange of the United Arab Emirates (UAE) have signed an agreement to provide convenient and reliable remittance service to their customers. According to ...  [more...]
As the money coming to Nepal outpaced the amount going out of the country, the balance of payments surplus in the first half of the current fiscal year surpassed the surplus record...  [more...]
Nepali beneficiaries of remittance may not get funds sent by their kins from abroad through banks and financial institutions (BFIs) without the sender being properly recognised. I...  [more...]
The strong dollar helped pile up cash coming home from migrant workers abroad. However, the effect seems to have worn off in terms of boosting exports. In just two months, Nepal r...  [more...]
Nepal has not been able to benefit from the remittance sent home by Nepalis working abroad as most of this money is being spent on basic needs, particularly food, and fast moving c...  [more...]
Dashain and Tihar are the times when people pull out all the stops and spend lavishly without a second thought. In recent years, rising remittance inflows have made the festival an...  [more...]
Panchthar:The happiness of Anita Limbu of Phidim VDC knew no bounds after she received the money sent by her husband, who works in Qatar, for the Dashain festival. Her husband had...  [more...]
Nepalis residing abroad may not necessarily visit one of the Western Union outlets to send money home, as the leading global remittance company has introduced a service through whi...  [more...]
Kumari Bank Limited (KBL) and Bank of Kathmandu (BOK) have signed an agreement to provide remittance service of Kumari Remit -- the remittance business of KBL. According to a pres...  [more...]
City Express Money Transfer has signed an agreement with Unique Xchange of Malaysia to provide remittance service. According to a press statement issued on Monday, Nepalis in Mala...  [more...]
 All 19-year-old Pravin Acharya can focus on right now is getting into an engineering college. He has been preparing for the entrance exam to get admitted to the Institute of ...  [more...]
Prabhu Money Transfer on Tuesday signed a remittance payment agreement with Century Commercial Bank. Now onwards, money sent from foreign countries through Prabhu Money Transfer c...  [more...]
Siddhartha Development Bank Ltd (SDBL) inked an agreement on Thursday with Vibor Development Bank to increase the reach of customer services for its SDBL Trust Remit services the t...  [more...]
It is not a suitable proposition to ask for remittance to be spent on development, according to finance minister Shankar Koirala. Addressing an interaction on ‘Nepal’s...  [more...]
With more of the active population going abroad for employment, Nepal's receipt of daily remittance income is equivalent to one-fourth of the average daily gross domestic product (...  [more...]
Most of the income coming from migrant workers as remittance is spent on consumption — especially in imports — here in Nepal. “Though in the short run, rise in r...  [more...]
Remittance flows to developing countries reached an estimated $401 billion in 2012 growing by 5.3 per cent compared to 2011, the World Bank said in its ‘Migration and Develop...  [more...]
The recent salary hike of Nepali migrants in Gulf countries will contribute a significant amount in remittance earned from those countries, according to the Department of Foreign E...  [more...]
The country’s trade deficit is growing as the relatively easy income from remittance has contributed in growing consumption among Nepalis.Nepal received Rs 360 billion as rem...  [more...]
Continental Financial Services, the principal agent HimalRemit, has signed an agreement with NMB Bank to start HimalRemit services. Issuing a press statement, the company said Hima...  [more...]
Mega Bank Nepal and Prabhu Money Transfer have entered into an agreement to start remittance service. The agreement was signed by chief business officer of Mega Bank Raveena Desraj...  [more...]
Civil Bank has signed a memorandum of understanding with Batas Associates to start remittance services of HimalRemit. Civil Bank’s chief executive officer Govinda Gurung and ...  [more...]
Citizens Bank and Batas Associates have signed an agreement to provide remittance services to people through Himal Remit. According to a press release issued on Monday, Citizans Ba...  [more...]
Nepal has long been known as a remittance-based economy. Had migrant workers employed in Gulf countries and Malaysia, among others, not sent money to the country, the domestic econ...  [more...]
The central bank governor has asked remitters to increase their presence in India following requests by Non-Resident Nepalis (NRN) in India. Representatives of NRNs from India tod...  [more...]
A huge amount of remittance money enters the country every year. The hurdle however is that the workers earning money outside the country do not have a legal channel to send the mo...  [more...]
International Money Express (IME) and Nepal Bank Ltd (NBL) have signed an agreement to facilitate remittance disbursement in Nepal. CEO of IME Suman Pokharel and Head of Management...  [more...]
Nepal has ranked sixth among the top 10 remittance earners from Qatar.However, Qatar Central Bank does not have the actual figures of the money sent by Nepalis back home. A study ...  [more...]
Nepal is the second largest remittance receiver among the Least Developed Countries (LDCs), according to a latest United Nations report. “Of the total $27 billion remittance...  [more...]
Nepal was one of the highest receivers of remittance on the basis of per cent to gross domestic product (GDP) in 2011. The large remittance recipient countries as a share of GDP i...  [more...]
Samsara Money Transfer and Siddhartha Development Bank have reached an agreement, under which money remitted from aboard can be made available to various clients in Nepal through t...  [more...]
The appreciating Nepali currency against the US dollar might affect remittance income and export of Nepali products. The appreciation of the Indian currency (IRs) with which our c...  [more...]
The country seems to have started showing the Dutch syndrome due to the rise in huge inflow of remittance — that has swelled not only the foreign currency reserve but also th...  [more...]
As much as 56 per cent households have been benefited from remittance in the country. However, the government has not given priority to the foreign employment though the remittanc...  [more...]
The average monthly remittance income has gone up by 34 per cent as the appreciation of the US dollar against the Nepali currency has substantially contributed in pumping up remitt...  [more...]
Nepal Rastra Bank (NRB) has directed banks and financial institutions (BFIs) and remittance and money transfer service providers to implement Customer Due Diligence (CDD) as part o...  [more...]
Increasing flow of remittance and service receipt have boosted the foreign exchange reserves of the country. “Gross foreign exchange reserves surged by 35.3 per cent to Rs 3...  [more...]
Birgunj: Unscrupulous importers have been resorting to hundi to transfer money as the government and banks have begun cracking down on customers submitting fake customs documents t...  [more...]
International Money Express (IME), with an aim to offer remittance service to Nepalis working in India, has teamed with United Bank of India (UBI) in partnership with Global Bank. ...  [more...]
The rosy economic picture painted by increased remittance will make the economy vulnerable in the long run. “The increased outflow of human resource is alienating the manpow...  [more...]
The government has introduced the Foreign Employment Policy to promote safe and inclusive migration in the country. Migration of workers from the country began in 1991 under the in...  [more...]
International Money Express (IME), which has been providing remittance services in the country in partnership with various other agencies, is now bringing remittance from India too...  [more...]
Ramesh Mahat of Panchthar who returned to Nepal a few days ago is planning to go to Kuwait again. He says it is his compulsion as he found no work back home. Mahat, who went to th...  [more...]
Janata Bank and Sewa Express Company Limited recently signed an agreement to provide remittance services. After the agreement, the customers sending money from Sewa Express in Qat...  [more...]
The workers’ remittances have increased by 37.9 per cent to Rs.133.19 billion compared to a growth of 11.3 per cent during the corresponding period of the previous fiscal yea...  [more...]
Deposits in commercial banks have continued to balloon over the last five months in a turnaround from the sluggish deposit growth and liquidity crunch of the previous two fiscal ye...  [more...]
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