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Rs 200 bln remittance enters Nepal thru hundi system annually


03 September 2019  

Time taken to read : < 1 Minute


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KATHMANDU: Around 35 percent (Rs 200 billion) of remittance sent by Nepali migrant workers comes into Nepal through Hundi system.

According to the Migration and Remittance Report unveiled by Nepal Rastra Bank (NRB) last year, Rs 783.6 comes to Nepal in remittance from 189 countries annually, of which Rs 200 billion comes through hundi system which is illegal according to Nepal’s law. .

According to the report, the only 65 percent of the remittance comes through banking channels while the rest (35 percent) comes through hundi system. Nepal migrant workers send their earning to their families and relatives six times a year, said the report.

Despite efforts, the government has failed in its attempt to ban illegal hundi system.

 

Publish Date : 03 September 2019 12:32 PM

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