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FIA Global predicts rapid growth in Nepali remittances in 2022

The Hans India, India, 25 May 2022 - FIA Global, India's leading online banking and financial services provider with more than 50 million customers, has been the platform of choice for Nepali migrants to send money back home.

In the last quarter, FIA has witnessed an increase in remittances to Nepal on its digital-remittance platform, iRemit. As the name suggests, iRemit is an online platform that helps customers remit money and has been the one-stop remittance platform for Nepalese workers in India to remit funds – from 'sachet' amounts to maximum permissible – back home to their families and friends.

FIA's digital-remittance platform does over 13,000 transactions every month, with a majority of Nepali users living and working in Delhi, Chandigarh, Mumbai and Himachal Pradesh. FIA also supports close to 2 lakh recipients in Nepal for whom it is a point of loyalty and trust that they place on the channel.

During the pandemic, migrant labours were left stranded with no access to money or the option to relocate to their natives. The process of remitting money amid restrictions was likely observed to be a long haul. That was the foremost problem they had to be contended with.



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