Governor, SBI meet

KATHMANDU, JAN 18: 

The central bank governor discussed simplifying the process of remitting money between Nepal and India with State Bank of India’s managing director. 

Governor Dr Yubaraj Khatiwada held a meeting with State Bank of India (SBI)’s managing director Hemant Contractor on Wednesday. They discussed ways to make the process of sending remittance from India by Nepali workers simpler so that the formal financial channel is utilised. 

Likewise they discussed the possibility of making drafts issued by Nepali banks easily acceptable by branches of SBI in India. SBI is the largest bank in India. It promotes Nepal SBI Bank here. Contractor is a board member of Nepal SBI Bank.

Earlier too, central bank had asked remitters to increase their presence in India following requests by Non-Resident Nepalis in India. They also discussed issues such as implementation of base rate, managing non performing assets, and financing small and medium enterprises in Nepal based on Indian experience.