How do i send 1cr from india to nepal.My money is totally legal, everything i have earn from stocks trading. Should i carry cash and cross the border?? Is this a good idea?
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Tag: India
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Hi guys, If my company based out of India invest in Nepal fixed deposits then we should be paying 5% TDS from interest earned. So we will not be paying any additional corporate tax in Nepal?
If anyone having knowledge in corporate law can help. That would be very helpful.
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Nepal and India Launch Cross Border QR Payments for Seamless Digital Transactions
Fonepay Payment Service Ltd, Nepal’s Largest Payment Network and NPCI International Payments Ltd (NIPL), the international arm of the of the National Payment Corporation of India, is now ready to launch the first Cross Border QR Payment between Nepal and India. This historic unveiling took place at the Global Fintech Fest 2023, a global gathering of fintech visionaries, thought leaders and innovators.
Seamless Payments Across Stores Using QR Codes
This collaboration between Fonepay and NIPL will empower millions of citizens of both nations, to securely and conveniently make instant payments through QR code across various stores by using the mobile application certified by Fonepay and NPCI.
Both companies have now completed operational preparations and technological integration is in final process after which the companies can offer the service to their issuing and acquiring members and enable their consumers and merchants to enjoy the service. The strategic partnership between the two companies will provide a considerable boost to the digital payments’ ecosystem in both countries and will prove to be a major steppingstone for wider reach in the international market.
Enhancing Connectivity and Fostering Prosperity
Chairperson of Fonepay and President of F1Soft Group, Mr. Biswas Dhakal, said, “This remarkable launch marks a significant step towards enhancing financial connectivity between Nepal and India by leveraging technology for the benefit of our citizens. I am confident that this initiative will significantly contribute to the growth of trade, tourism, and economic relations between both countries, ultimately fostering prosperity and development.”
Commitment to Fintech Innovation and Collaboration
Speaking on the same occasion, NIPL said*, “This initiative signifies our commitment to fintech innovation and strengthening our nations’ bonds. We envision this partnership as a catalyst for greater financial inclusion and economic prosperity and are excited to embark on this journey of transformation together with Fonepay.”
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SEBI Reduces IPO Listing Time in India
India’s regulatory authority for the capital market, the Securities and Exchange Board of India (SEBI), has announced a significant reduction in the time required to list shares after an initial public offering (IPO). Previously, shares could be listed within 6 days of the IPO sale’s closure, but now this timeline has been cut in half. According to the new system, companies are required to list their shares within 3 days after the IPO sale concludes. SEBI has stated that this change will be voluntarily implemented starting from September 1, 2023, and will become mandatory from December 1, 2023.
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Nepal and India Sign 5-Year Pact for 200 MW Power Supply
India and Nepal have made a significant agreement for India to purchase 200 megawatts (MW) of electricity from Nepal during the rainy season. The deal will last for five years and is seen as an important step in their long-term electricity trade. Unlike the previous method of selling electricity through a competitive market, this new agreement will provide a steady and reliable supply of power to India.
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Cryptocurrency prices are rising, with Ripple rising by 18%.
Since Tuesday morning, the cryptocurrency market, which had been dropping for more than two weeks, has started rising. As a result, the values of the market’s leading cryptocurrencies have surged dramatically in the last 24 hours.
According to Crypto.com, the price of Bitcoin has gained 8.24 percent in the previous 24 hours to USD 37,304, while Ethereum is trading at $2,707. In the last 24 hours, Ethereum alone has increased by 16.60 percent.
Cardano rose 12.74 percent to 1.76, Binance Coin rose 15.02 percent to 358, Ripple rose 19.36 percent to 1.07, and Polkadot rose 18.44 percent to 23.11.
Cryptocurrency is banned in Nepal, despite being recognized as a digital money in Europe, the United States, China, and India. However, in the lack of a cryptocurrency regulation in Nepal, the Nepal Rastra Bank has published a statement stating that only Bitcoin transactions are prohibited.
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Top 5 Micro Jobs Website for Nepalese
Micro Jobs are one of the finest ways for students, housewives, and anyone who do not have significant IT abilities to make money online. They are particularly popular in India, Pakistan, Indonesia, South Africa, the Netherlands, the Philippines, the United States, Canada, Australia, and Belgium, and their popularity is expanding in Nepal.
However, with so many Online Scams on the internet, distinguishing between legal Micro Job Websites and Micro Job Scams can be difficult. As a result, I decided to compile this list of reputable Online Microjob Websites.
But, before we get into the list of the Best Micro Job Websites, let’s have a look at what Micro Jobs are.
What Are Micro Jobs
Micro Jobs are online tasks that can be completed in few minutes. The tasks are very simple and basic knowledge of internet is sufficient for anyone to complete these tasks.
At Micro Jobs Websites, you may be asked to,
- Sign up for newsletters on websites
- Like or share something on Facebook and Google Plus
- Tweet or retweet something
- Make posts on forum
- Post comments on blogs
- Create a Gmail or Yahoo account for someone
- Rate an Android or IOS application
- Classify products into categories
- Find information on Google
- Judge the sentiments of the tweet etc, among various other jobs
How Do Micro Job Websites Work?
The websites which offer Micro Jobs, have two types of people registered with them
Employer: A Person who wants to get a task done
Worker: A Person who wants to make money by completing tasks
After depositing the payment to be made to the worker, the employer advertises the task on the Microjobs website. This payment is held by the Microjobs website to prevent bogus clients from not paying. The worker can then go to the website and look for projects that he is capable of accomplishing.
After finishing the task, a worker will be required to produce certain proofs of completion as requested by the employer. The employer next goes over the proof to see if the employee truly did the job.
If the project is finished successfully, he labels it as completed, and the payment is released to the worker via the Micro Job website. As a commission, the website normally costs the employer a modest proportion.
Workers are not compensated in any way. In the event of a disagreement, you may contact the website, which will, at its sole discretion, resolve the matter in the worker’s or employer’s favor.
How Much Can I Earn With Micro Jobs?
The remuneration for each assignment is determined by the task’s complexity. The higher the pay, the more difficult the task. The typical remuneration per task ranges between $0.01 and $1.
Some websites limit the jobs to people from specific countries, mainly the United States, the United Kingdom, and other Tier 1 nations. There are no regional limits on other websites, but the tasks are limited based on your accuracy in completing past jobs.
Furthermore, some websites have a restricted number of activities available, but others have enough work to keep you busy for the entire day.
As a result, depending on the website and your skills, your monthly profits will vary substantially. Those who are able to effectively follow the employer’s instructions for doing the assignment can earn up to $300 each month.
How Will I Get Paid?
Almost every website accepts payments in US dollars. Because the workers are located all over the world, most of these websites use payment service providers like PayPal, Payoneer, and Payza to process payments. Some businesses also send checks to people in the United States and Canada.
Payment Modes for each of the websites can be found on their own websites.
All of the websites listed below provide a method for receiving payment in Nepal.
So, now that you know how Micro Jobs function, let’s move on to the Best Micro Job Websites list.
Best Online Micro Job Websites
1. Amazon Mechanical Turk – http://www.mturk.comBecause it is owned by Amazon, Amazon Mechanical Turk, often known as Mturk, is the most dependable website for Micro Jobs. In addition, Mturk’s remuneration per task is often higher than that of other Micro Jobs websites.
Micro Jobs are referred to as Human Intelligence Tasks or HITs on Mturk. The individual who posts the assignment is known as the Requester, and the one who completes it is known as the Worker.
You can choose to register as a Worker or a Requester. To make money with Mturk, you must first register as a worker with Amazon.com.
If you already have an Amazon account, you can sign in using your Amazon credentials. After that, you must submit a request to register as a Worker. Amazon will assess your request and, at its sole discretion, approve or reject it.
Except for Amazon, no one knows what criteria are used to approve or reject requests. Requests from India, Pakistan, Bangladesh, and most other regions of Asia, on the other hand, are often denied, a fact that Amazon.com denies. Mturk is a must-have for people from the United States, the United Kingdom, and other Tier 1 nations.
2. Microworkers – http://www.microworkers.com
Microworkers is a good alternative to Mturk for people who are unable to register on Mturk. Microworkers get a decent pay rate per task.
The job that needs to be done is referred to as a Task at Microworkers. The individual who posts the task is known as the Employer, and the one who completes it is known as the Worker.
Employers can use microworkers to limit the task to workers from a single country. People from the United States, the United Kingdom, and other Tier 1 countries typically have greater job opportunities than those from Tier 2 and Tier 3 countries such as India, Pakistan, the Philippines, and Nigeria.
You can only finish up to 40 jobs in the beginning. After that, you’ll have to wait for the employers to rate your work before you can move on to the next one. A low grade will have an impact on your overall accuracy.
If your accuracy in the last 30 days falls below 75%, you will not be permitted to complete any more jobs. In such situation, you’ll have to wait for the assignments with low ratings to pass the 30-day mark. As a result, you must ensure that you only accomplish jobs that you are capable of completing satisfactorily.
Pay per job typically ranges from $0.05 to $0.5, with individuals from Tier 1 nations receiving higher pay. As a result, if you are from a Tier 1 country, you can earn between $50 and $100 every work. However, if you are from a Tier 2 country, your earnings will be substantially lower, and crossing the $30 barrier will be challenging.
Microworkers allows both employees and employers to register in one place. Make sure you give accurate information, including your address, when registering, because Microworkers will send you a verification PIN to your postal address, which you must input to withdraw your money for the first time. This step is required to prevent people from creating numerous accounts.
Microworkers’ minimum withdrawal amount is $9 plus withdrawal fees (7.5 percent for Paypal)
3. Figure Eight (Formerly CrowdFlower) – https://www.figure-eight.com
Another excellent resource for doing Micro-Jobs is Figure Eight. They operate in a totally different manner from Microworkers and Mturk.
Figure Eight provides you with micro jobs known as “tasks” via third-party websites, who then pay you for them. Clixsense is the most reputable of the websites that offer Figure Eight tasks.
The activities at Figure Eight are typically quite different from those at Microworkers and Mechanical Turk. In order to finish one task, you will need to complete multiple comparable sub-tasks.
The tasks generally include
- Finding information on the internet
- Classify products into categories
- Analysing the sentiments of the tweets
- Extracting data from Invoices etc.
Because it has no territorial constraints, Figure Eight is the ideal way to make money if you are from a Tier 2 or Tier 3 country. Figure Eight, on the other hand, limits the activities based on your accuracy in completing earlier assignments.
Starting at Level 0, you will have very few, if any, assignments available to you as a beginner. Many individuals believe it is a waste of time because the ones that are accessible pay relatively little.
You will, however, be promoted to higher levels as you accomplish more jobs with high accuracy. You’ll have a good number of tasks at Level 1, and you’ll have the luxury of finishing only the ones that pay handsomely.
You could just have enough tasks at Levels 2 and 3 to keep you occupied for the entire day. At these levels, it goes without saying that your earnings will skyrocket. However, you must exercise extreme patience in order to reach level 1, which could take up to two months.
One can easily earn $1-$1.5 per hour at Level 1 and above. Clixsense also gives you the option of earning extra money by completing surveys.
In addition, completing your daily checklist earns you a bonus of up to 16% of your overall profits. You’ll also receive a $5 bonus for every $50 you earn through chores.
A weekly task competition is also held by them. Each week, the top reward of $50 is awarded to the individual who completed the most tasks the previous week, with the remaining top ten receiving varying prize amounts.
With everything taken into account, if you can work for 4-5 hours each day and perform assignments with greater accuracy, you can earn up to $200-300 per month, regardless of where you live. This is far more than any other microjob website.
The minimum payment at ClixSense is $10. It does not allow you to withdraw your earnings using PayPal. However, you can withdraw your money using Payoneer, Payza, Tango Card, and other similar services.
More information about ClixSense can be found in my ClixSense review. That will give you an idea of how to get the most out of your ClixSense revenue.
4. RapidWorkers – http://www.rapidworkers.com
Another notable website for Micro Jobs is Rapidworkers. Its user interface is extremely similar to Microworkers, although it lacks a few key capabilities.
The person who posts the Job is called the Employer, and the individual who performs the task is called the Worker, just as Microworkers. It also allows both the employer and the employee to register at the same time.
The minimum payout at Rapidworkers is $4 plus withdrawal fees (6 percent For Paypal)
5. Short Task – http://www.shorttask.com
Short Task is another good website for Micro Jobs. Here the person who posts task is called Seeker and the person who performs a task is called Solver.
Separate registration and sign-in are required for Solver and Seeker. Minimum payout at Short Task is 10$
Lastly,
If you live in the United States, Mturk and Microworkers are by far the top sites for Micro Jobs. Tasks will be limited with Microworkers, and you may not be able to work for more than an hour every day.
Figure Eight may not pay much per task at level 0, but as you get to Level 1 and beyond, the compensation per task skyrockets, and you have enough tasks to work for 8-10 hours each day. You should absolutely register with Clixsense and spend more time working on Figure Eight activities if you are from a Tier 2 country, as it has no geographic constraints.
Even people from Tier 1 countries can benefit from ClixSense. In fact, people from Tier 1 nations should concentrate on ClixSense Surveys rather than assignments because there are many high-paying surveys accessible, particularly for those from the United States and the United Kingdom.
I hope you enjoyed reading my article. Please feel free to share this post with your friends if you enjoyed it.
Do you want to learn more about Microjobs? Please leave a remark below to clear up any confusion.
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The Cryptocurrency debate: Is legitimacy necessary?
Cryptocurrency, or “decentralized electronic currency,” is gaining popularity around the world these days. Last January, Nepal’s neighbor India published a “National Strategy on Blockchain” to regulate the technology. However, such currencies and transactions are absolutely prohibited in Nepal.
On the Internet recently, there has been a lot of discussion and information concerning cryptocurrencies. However, in Nepal, a correct understanding of this has yet to be created. Many people have heard of Bitcoin and have a basic knowledge of it. People, on the other hand, seemed to comprehend that ‘cryptocurrency’ means ‘bitcoin,’ and that ‘bitcoin,’ in turn, means ‘cryptocurrency.’ Not only the general people, but also the Nepal Rastra Bank, appears to believe this.
On the 13th of August 2017, the NRB issued a statement claiming that ‘Bitcoin transactions are unlawful in Nepal.’ This, however, has no bearing on other cryptocurrency coins.
Cryptocurrency and Bitcoin
According to CoinMarketCap, there are already over 10,000 cryptocurrencies in circulation around the world. Bitcoin, the first cryptocurrency, is the most valued and widely used. A Japanese programmer invented Bitcoin in 2009.
Thousands of cryptocurrencies, such as Bitcoin, are now available around the world. Ethereum, Polkadot, Ripple, and Dogecoin are examples of cryptocurrencies. In Nepal, however, the belief that Bitcoin is the only cryptocurrency is widespread.
Is it due to a lack of awareness or carelessness?
All economic transactions in Nepal are regulated by the Nepal Rastra Bank. The bank’s policy capacity is called into doubt by its statement on Bitcoin, which is also the guardian of banks, financial institutions, and digital service providers in the country.
Foreign exchange transactions can only be carried out with a license from the Rastra Bank, according to Nepalese legislation. Money must be remitted abroad to trade and invest in bitcoin. The NRB’s declaration on Bitcoin, which came after it was proclaimed that moving money overseas without permission is prohibited, appears to have caused even greater confusion among the people. Is it allowed to invest in other coins? This is an intriguing question that occurs.
Investing possibilities
The worldwide media has recently reported on persons who have made millions of dollars by investing in cryptocurrency.
Two weeks ago, it was reported that a high-ranking Gold Sachs employee had resigned after earning tens of millions of dollars using DogeCoin. Similarly, word circulated quickly that a 25-year-old American had become a millionaire at such a young age by investing in Bitcoin. While its investment and business are growing in Europe and the United States, as well as in India, it is outlawed in Nepal.
At first look, Bitcoin does not appear to be a viable investment option in Nepal, where it is prohibited to transmit money overseas without the approval of the central bank. However, based on posts and statuses on social media and in groups, it appears that a significant quantity of money is being traded surreptitiously from Nepal.
Nepalis are investing in several ways, such as through the creation of websites, peer-to-peer transactions, or through friends and relatives residing abroad. People that invest in cryptocurrencies join groups on social media sites such as Facebook, WhatsApp, and Viber to trade it. Transactions, on the other hand, are not readily apparent because it is against the law.
Limitation of the declaration of illegality to paper
Many business operations that have been declared illegal by Nepalese law have not been stopped by the government. It doesn’t matter if it’s betting, Hundi, or e-commerce.
The indifference of stakeholders, despite the fact that the government’s policies and judgments are limited to paper, and the knowledge that comes out in pieces about these transactions that are done invisibly, is astounding.
Khalti, a digital service provider, alerted the Rastra Bank in April, requesting an investigation into the transaction statements of roughly a thousand users on suspicion of betting. However, the NRB has yet to take any action or make any statements in this regard.
Similarly, despite the fact that the Hundi business of transporting money from Nepal to foreign countries is unlawful, it appears that no action has been taken. Similarly, the Nepal Rastra Bank and the government appear to be on the same page when it comes to Bitcoin.
Is it important to have legitimacy?
This can be viewed from two angles. The world’s most powerful economies have endorsed cryptocurrencies, proclaiming it to be the currency of the future. Cryptocurrencies are being used to pay for restaurant bills, Netflix subscriptions, Tesla cars, and even sports tickets in some regions.
Its instantaneous legitimacy is unthinkable in Nepal, where moving money overseas is a crime. However, if Nepalese policymakers can interpret cryptocurrencies and Bitcoin differently in the near future, it may obtain legitimacy.
Trading in cryptocurrencies, which resembles stock market transactions, is less expensive than trading in fiat money (rupee, dollar, euro, pound, etc.) since cryptocurrency transfers do not require the use of a third party (bank). Without the need of a third party, money can be sent from anywhere in Nepal to anywhere in the world.
Cryptocurrency transactions are made feasible via blockchain technology. As a result, there is no need for a third party to complete the transaction. As a result, transactions are simple, secure, and rapid.
How do the transactions take place?
By opening a TMS account, you can purchase and sell cryptocurrency in the same manner you can buy and sell stocks (on the stock market). Buying and selling takes place on a variety of platforms. It can be traded on sites such as Binance, Crypto.com, Robinhood, Etoro, and Coinbase, for example.
To store this, you’ll need a crypto wallet. The use of blockchain technology is thought to be safe and dependable. To put it another way, transactions on the platforms can be compared to money kept in eSewa, and using a crypto wallet to make bank account deposits.