February 12: Civil Bank has entered into bilateral agreement with Mumbai-based Axis Bank to facilitate smooth transfer of funds from India to Nepal and vice versa. The agreement was signed by Sujit Shakya, chief business officer of Civil Bank and L Sriraman, senior vice president and head of GFID (Domestic FI & NBFI) Financial Institutions Group of Axis Bank.

Axis Bank has more than 2,000 branches spread all over India and now money can be remitted through these branches to any account maintained at any of 56 branches of Civil Bank Limited, a joint statement issued by Civil Bank.

The agreement is expected to benefit citizens of both sides and especially for Nepalis in need to send money from India to Nepal.