September 29, 2011
The Chairman and Managing Director /Chief Executive Officer of all banks participating in NEFT
Madam / Dear Sir,
Indo-Nepal Remittance System – Measures to enhance usage
This has reference to our circulars DPSS CO. No. 1764 / 04.09.003 / 2007-08 dated April 29, 2008 outlining the salient features of the captioned Scheme as well as operational instructions and DPSS (CO) NO. 1381 / 04.09.003 / 2008-09 dated February 09, 2009 indicating changes in the charges structure under the Scheme. The captioned scheme was introduced in May 2008 by Reserve Bank of India, jointly with Nepal Rastra Bank, to provide an avenue to migrant workers of Nepalese origin working in India to remit funds at regular intervals in a safe and cost efficient manner to their families in Nepal.
2. It is disheartening to note that despite the growth in the number of NEFT-enabled branches, the volume of transactions under the Indo-Nepal Scheme has not grown as expected at the time of its launch. Though there is huge potential for such remittances through the banking channels in view of the large number of migrant population of Nepalese origin in various parts of India, the Scheme is not being used effectively as observed from the limited number of transactions effected each month. Further, only a few banks are putting in such transactions. Informal consultations with banks have revealed that one of the reasons for very low usage of the Scheme is lack of awareness among target group of customers as well as the dealing staff within banks.
3. As indicated in the operating procedures of the Indo-Nepal Scheme, which runs on the NEFT application, certain data entry and authorisation rules have to be clearly observed at the time of input of message contents meant for Indo-Nepal Remittance. It is learnt that a large number of the already low level of transactions are getting rejected at SBI, Pooling Branch due to incorrect format / contents of the message. This may be due to the fact that the dealing officials at branch level are not fully conversant / aware of the unique features / requirements of the scheme (message format prescribed under the Scheme has some fields tagged mandatory which are not mandatory in message format for domestic remittances). Some of the common mistakes committed in data input for such transactions, leading to their rejection at SBI level, are observed to be as under:
- Amount entered is more than Rs 50,000/- (under the Indo-Nepal Remittance Scheme the maximum permissible amount of remittance is Rs.50,000/- per transaction) – When the amount data is input (in field 4038), it should not exceed Rs.50,000/- including the commission amount. In other words, the value of actual funds remitted plus commission cannot be more than Rs.50,000/- (Note: the value entered in this field is used for settlement purposes also)
- 3rd line of Sender to Receiver Information (Commission) - this field should contain only numbers whereas it is observed that some banks are also entering alpha characters (the commission amount has to be in numbers only as per the charges structure for the Scheme; no alpha characters should be entered in this field)
- In field 6061 i.e., Beneficiary Customer A/ c, the account number of SBI Central Pool account (2399468044302) is only to be mentioned. Some Banks put the actual Nepal Beneficiary A/c No. in this field instead of 2399468044302 resulting in rejection of the message.
- The actual beneficiary account number at Nepal, if any, is to be mentioned in field 7495 – line 4 of Remittance Information.
(i) Create awareness among the branch officials about the Scheme so as to enable them to guide the target customers, many of who may be illiterate. The branch officials should be able to explain the features of the Scheme and guide them in filling up the remittance form.
(ii) Provide necessary training to the dealing officials at branch level so that they are aware of the operating procedures of the Scheme, its message structures and contents etc. We are enclosing with this circular a copy of the message format for transactions under the Scheme providing details about the fields and the information required to be filled therein. It may be stressed upon the dealing officials to exercise necessary care while making the data-entry in the system to as to avoid rejection of the message/s at SBI Pooling Branch.
(iii) To enhance its usage, it is necessary that target customers are made aware of the Scheme. To ensure this, branches, especially those situated in areas with sizeable migrant Nepalese population, may be advised to organise periodic workshops and awareness campaigns about the Scheme. Help of Nepalese workers’ associations may be solicited for wider disseminations of information about the Scheme.
5. Please acknowledge the receipt of the circular and implementation of its contents.
Yours sincerely
(Vijay Chugh)
Chief General Manager
Outward Debit Messages from NEFT Branches IFN298N06 (as applicable for Indo-Nepal Remittances)
M/O | Field No | Field Name | Contents / Options | Description |
| M | 2020 | Transaction Reference Number | 16x | Uniquely identifies the message. |
| O | 3535 | Batch Time | 4!n | Batch Time. |
| M | 1106 | 5n | Number of transactions(loops) in the message | |
| M | 4063 | Sum of Amounts | 19d | Sum of all amounts in the loops |
| Repeating Group Begins | ||||
| M | 2020 | Transaction Reference Number | 16x | Uniquely identifies the transaction (loop) |
| M | 4038 | Amount | 19d | Value of the remittance (Amt + Commission charges) (NOT TO EXCEED RS. 50,000 FOR NEPAL TRANSACTIONS, INCLUDING COMMISSION AMOUNT) |
| M | 3380 | Value Date | 8!n | Date on which settlement takes place. Only the current date is valid. |
| M | 5756 | Sending branch’s IFSC | 4!a4!c[3!c] | Sending branch’s IFSC. |
| M | 6305 | Sending Customer Account Type | Sender’s account type Allowed values are 10 - SAVINGS BANK 11 - CURRENT ACCOUNT 13 - CASH CREDIT 14 - LOAN ACCOUNT 12 - Overdraft 40 – NRE 50 – Remittance for Customer not having account in bank 51- INDO NEPAL REMITTANCE 52 – Card to Card Payments (FOR INDO-NEPAL REMITTANCE, ONLY 51 HAS TO BE ENTERED) | |
| M | 6021 | Sending Customer Account Number | 35x |
|
| M | 6091 | Sending Customer Account Name | 50x |
|
| M | 5629 | Sending Customer Mobile No/Email Id | 3!c 62z | Sender’s mobile number or e-mail id. 3!c should be either SMS or EML only 62z contains e-mail id or mobile number Mobile number should be at least 10 digits |
| M | 7002 | Originator of Remittance | 4*35 | Cannot be left blank Branch name may be entered here in the first line/row |
| M | 5569 | 4!a4!c[3!c] | SBIN0004430 (This IFSC number of SBI branch where pool account is created for Nepal remittances and must be given for all Nepal remittances.) | |
| O | 6310 | Beneficiary Customer Account Type | 2!C | Receiving customer’s account type Allowed values are 10 - SAVINGS BANK 11 - CURRENT ACCOUNT 13 - CASH CREDIT 14 - LOAN ACCOUNT 12 - Overdraft (10 OR 11 MAY BE ENTERED) |
| M | 6061 | Beneficiary Customer Account Number | 35x | ENTER 2399468044302 in this field. (This is the number of central pool account created at SBI for Nepal remittances and MUST be given for all Nepal remittances.) * Nepal Beneficiary A/c number NOT to be written here. |
| M | Beneficiary Customer Account Name | |||
| M | 5565 | Beneficiary Customer Address | 4*35x | Beneficiary customer address in Nepal should be entered here (at least one line content should be entered) |
| M | 7495 | Remittance Information (6 lines of 35 characters each). Information has to be given in all the 6 lines as shown below Line 1: - Beneficiary Identification Particulars Line 2: - Contact Number of Beneficiary Line 3: - Commission Line 4 : - Account Number, if customer of Nepal SBI Bank Ltd (NSBL) Line 5: - Account Number, if customer of other bank in Nepal Line 6: Name of the other Bank (if not NSBL) | Citizenship/ PAN card/ pass port number of the beneficiary or X if no information is available Mobile or land line number of the beneficiary 20.00 / 70.00 / 95.00 Rs 20.00 in case beneficiary has an account with NSBL. Rs 70 or Rs.95 in other cases depending upon the amount being remitted. Account number of customer that is to be credited if he/she is account holder in Nepal State Bank ‘X’ if cash is to be disbursed Account number of customer that is to be credited if he/she is account holder in other bank ‘X’ if not available Name of other bank ‘X’ if not available | |
