Which of the following statement is are correct w r t recent meeting bewteen Nepal rsquo s...........

Current GK (IBPS RRB-PO) International Affairs

Which of the following statement is/are correct w.r.t recent meeting bewteen Nepal’s Ambassador to India, Shankar Sharma, and officials of the Reserve Bank .

1. Nepali citizens with bank accounts in India can now send up to Rs. 2 lakh (Indian Rupees 200,000) per transaction to Nepal without any limits on the number of transfers.

2. Indian residents visiting Nepal will be permitted to carry out remittances of up to Rs. 50,000 per transaction, with an annual limit of 12 such transactions.

Only 1

Only 2

Both 1 and 2

None of above

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Explanation:

India and Nepal have agreed to strengthen financial cooperation between the two neighbouring countries. A new digital payment system allowing direct online fund transfers from India to Nepal will soon be inaugurated. he new measures were announced during a meeting between Nepal’s Ambassador to India, Shankar Sharma, and officials of the Reserve Bank of India last week.

Nepali citizens with bank accounts in India can now send up to Rs. 2 lakh (Indian Rupees 200,000) per transaction to Nepal without any limits on the number of transfers. This is a significant increase from the previous limit.
Indian residents visiting Nepal will be permitted to carry out remittances of up to Rs. 50,000 per transaction, with an annual limit of 12 such transactions. Earlier only Rs. 5000 could be carried for payments during visits.