IME Ltd. and Oxigen Services India Pvt. Ltd. have announced the launch of Indo-Nepal Remittance services through Oxigen network in India and IME network in Nepal. Amid a special event held at Hotel Shangrila, Kathmandu, the services were jointly announced by IME Managing Director Mr. Hem Raj Dhakal and Oxigen Services Chairman and Managing Director Mr. Pramod Saxena.
Speaking at the event Mr. Hem Raj Dhakal said, “The start of services between IME and Oxigen will open new doors for migrant Nepali workers in India. Oxigen is a digital financial service provider and IME is slowly moving into digital financial services. In this age of digitization this new service will help remittance inflow from India and people will be able to send money easily to Nepal.”
Chairman and Managing Director of Oxigen Services India, Mr. Pramod Saxena, said “This is yet another milestone achieved by Oxigen today, we believe that with this money transfer service corridor in place, it would be highly beneficial to nationals of Nepal residing in India, to send money to their friends and family in Nepal. Our vast reach in India will assist the partnership in achieving great success.”
With the start of remittance operations between IME Ltd. and Oxigen Services India Ltd., nationals of Nepal residing in India, for employment, can now easily send money to Nepal through Oxigen’s 30,000 banking touch points of the total 2,00,000 Oxigen retail network locations, across India. The receivers in Nepal can receive the amount through more than 5400 agent locations of IME in Nepal. IME will provide account deposit facilities to these customers besides cash payment options.
RBL bank in India and Global IME Bank in Nepal are the banking partners for fund settlements for Oxigen and IME respectively.