NIBL launches app to send money from India to Nepal

Kathmandu, Mar. 10

Nepal Investment Bank Ltd. (NIBL) has signed an agreement with BankOnUs, India to offer 'Paisa Pathaune' app, a service for Nepalis in India, to transfer funds from India to Nepal round the clock from their cell phones.

This facility is available to Nepali migrants and residents anywhere in India, said the bank in a statement on Wednesday.

"Paisa Pathaune app offers convenience, speed, safety and low service cost transfer of money from India to Nepal, on all days of the year, even on bank holidays in India," it said.

Nepalis staying anywhere in India can transfer funds digitally from their bank account in India, to their family members in Nepal by making one-time registration by providing sender’s information in India, and receiver’s information in Nepal.

Paisa Pathaune app supports Digital Mobile Payment platforms authorised by the Reserve Bank of India (RBI) such as BHIM, UPI, Google Pay, PhonePe, PayTM, WhatsApp Pay, BharatPe & NEFT/ IMPS. 

This product offers information to the sender and also gives detailed transaction receipt. When the family member receives funds in Nepal, the sender in India gets an SMS confirmation.

"Paisa Pathaune app helps our Nepali brothers and sisters in India to save money every time they transfer money through Paisa Pathaune app, as it is cheaper than other services," said NIBL.

Through the app, Nepalis in India can transfer up to Indian rupees 50,000, twelve times in a year.

Published in The Rising Nepal daily on 11 March 2021.