United bank signs remittance deals with Nepal's Global bank

Kolkata State-run United Bank of India has entered into an agreement with Nepal's Global Bank to launch remittance facility to a large segment of Nepalese population working in India. UBI became the third bank in India to offer Indo-Nepal remittance services.

Under the agreement, a person of Nepalese origin can remit funds in Indian rupee to a beneficiary in Nepal through any of the designated branches of UBI. The remitter will be provided with a unique PIN which will then be communicated by the remitter to the beneficiary in Nepal.

The beneficiary in Nepal can claim the funds within seven days in Nepalese Rupee by producing the PIN along with identity proofs at any of the 31 branches of Global Bank or the 1,741 Claim Outlets of the International Money Express (IME).

Source: EconomicTimes