Muthoot ties up with Nepali bank

Muthoot Finance has launched a money remittance service to Nepal in partnership with Nepal-based Prabhu Bank’s Indian arm Prabhu Money Transfer. The company said that with this initiative, Muthoot Finance has become the first non-banking finance company to launch a money transfer service to another country from India. A Nepali migrant can now transfer money instantly from any of the 4,200 Muthoot Finance branches to his/her family back in Nepal. Prabhu Bank, through its 112 branches and 7,000 outlets in Nepal, would facilitate the transfer in Nepal.