Nepal, June 7 -- Nepal and India have agreed to implement direct transfer of cash between the two countries, allowing the residents of each of the countries to send the cash directly to another country.

Under the new provision, Indians can now send up to 15,000 Indian currencies at a time. The limit of cash amount to transfer from Nepal to India is Rs 200,000 per month, according to Nileshman Singh Pradhan, chief executive officer of Nepal Clearing House Limited (NCHL). "Likewise, Nepalis working in India or residents from India can send up to Rs 200,000 each time," said Pradhan.

From now onwards, money can be sent from bank account to bank account. Currently, this service can be used through about half a dozen banks in Nepal. Indians v...