10.3 The Nepal Practice (the Honest Essay)

The remittance economy's reality (the Nepal's dependence (the workers' remittances the external sector's mainstay — the formal channels' facilitation the policy's modern face)); the informal- channel's persistence (the hundi's economics — the enforcement's challenge); the liberalisation's balance (the trade's facilitation vs the reserves' protection); the regional-cooperation faces (the payment arrangements, the convertibility's debates). Exam Focus Long question: the FERA's regime (the dealing monopoly + the permission-first craft — the banker). Short questions: the authorised dealer; the hundi; the export proceeds; the capital- account control. Trick areas: (i) The FERA 2019 B.S. is 1962/63 A.D. — among the OLDEST current financial statutes (the "2019 = recent" error — the B.S. conversion's craft); (ii) The NRB administers the FERA (the exchange's regulator — the same bank, the different hat); (iii) The HUNDI is the criminal channel (the informal remittance) — the enforcement's target; (iv) The current-account eased, the capital-account controlled — the modern regime's balance.