Nepali Embassy in New Delhi holds Interaction on Investment, Export, Banking and Remittance Services

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Nepali Embassy in New Delhi holds Interaction on Investment, Export, Banking and Remittance Services

May 11: The Embassy of Nepal in New Delhi organized an interaction programme on 'Banking and Remittance Services, Export-Trade and Investment Opportunity in Nepal' in collaboration with the Everest Chamber of Commerce and Industries in the Indian capital on Sunday.    

Speaking as the chief guest on the occasion, Nepal's ambassador-designate to India, Dr Shankar Prasad Sharma highlighted the robust economic ties between Nepal and India. Encouraging the Indian investors to make investments in Nepal, the Ambassador stated that, in addition to others, a moderate climate, geographical proximity and availability of the means of air and land transport, language and cultural similarity, and close working relations between Nepali and Indian nationals and duty-free and quota-free provisions for export in most products are favourable factors giving advantages for Indian investors to invest in Nepal.    

He also emphasized for the enhanced political linkages as it is important for any investor and businessperson, the Nepali Embassy in New Delhi stated in a press release.    

Regarding remittance, Ambassador Sharma encouraged everyone to use banking channel to remit their earnings as it is safe, secure, simple and transparent.    

Ambassador Sharma requested the bank officials to facilitate the process for opening bank accounts to everyone by creating awareness campaign and putting information in websites as far as practicable. He assured the participants of every possible support from the Eebassy in this endeavor.     

In his welcome address, Deputy Chief of Mission Ram Prasad Subedi highlighted the objectives of the programme. He called for the Nepali national working in India to remit their earnings through banking channel as it can help to sustain Nepali economy affected by the COVID-19 pandemic. He also highlighted the export trade and investment opportunity in Nepal.    

President of the Everest Chamber of Commerce and Industries, New Delhi, and the Chairperson of the programme, Yubraj Baral, called for every member of the Nepali community to encourage Indian investors and businessperson to invest in Nepal as they have established good relations with them.    

He also requested the embassy for coordination and facilitation wherever it is needed.    

Basu Dev Bhattarai, director of the Foreign Exchange Department of Nepal Rastra Bank spoke on the existing policies and practices for remittance, foreign investment and the limitation to carry cash amount by travelers from and to Nepal. He also briefed on how foreign currency is spent and gave an account of its current situation and reserves in Nepal.    

Nohan Karki, General Secretary, Everest Chamber of Commerce and Industries made a presentation, highlighting on the objectives, programmes and activities of the association and shared that the people of Nepali origin in India have emotional attachment to Nepal and Nepali people and always wish for their progress and prosperity.    

Speaking on the occasion, the representative of Global IME, Bank, Kathmandu,    

Swechchha Rana requested Nepali nationals to use banking channels for remitting their earnings. She informed the audience about the provisions and arrangements made by the bank in several countries to open up bank account for Nepali citizens while staying abroad. She also elaborated on the various facilities and incentives made by the bank, including high interest rate.    

Representative of Everest Bank Limited Kathamdu, Nikhil Shrestha thanked the ambassador and the embassy of Nepal for hosting the event.

Executive Chief of IME Bank Khilendra Paudel, underlined the difficulties faced by common Nepalis at border points. He mentioned that in absence of clear guidelines and regulations, at present, it is very difficult for an ordinary person to approach and get services from banks by himself/herself to remit money to Nepal. He requested facilitation on behalf of the government. -- RSS   


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