KATHMANDU, Feb 10: The investigation of the Department of Revenue Investigation (DoRI) have revealed that Naresh Agarwal, a garment merchant who was arrested on charges of hundi transaction, is the official agent in facilitating payments related to the smuggling of 9 kg of gold from Tribhuvan International Airport (TIA) and about 61 kg of gold intercepted outside the TIA premises.

KATHMANDU, Jan 24: A case has been registered at the Kathmandu District Court against a group of 17 people on the charge of dealing around Rs 300 billion through illegal hundi, cryptocurrency transactions and various digital platforms. Among these 17 people is the controversial businessman Bimal Poddar.

KATHMANDU, Jan 19: Garment trader Naresh Agarwal has been arrested. He was arrested by the Department of Revenue Investigation (DoRI) on charges of hundi (illegally remitting money from abroad) and illegal gold trading.

KATHMANDU, Nov 23:  Police have arrested a person who operates hundi and online gambling.

KATHMANDU, August 9: The Department of Revenue Investigation (DRI) on Monday filed cases against four individuals accused of misappropriating foreign exchange.

KATHMANDU, Nov 3: Police have arrested two individuals in Kathmandu with Rs 10 million smuggled money through an informal channel popularly known as Hundi.

KATHMANDU, Dec 19: Remittance inflow to the country fell 2.3 percent in the first four months of the current fiscal year 2019/20 compared to the corresponding period of the last fiscal year 2018/19.

KATHMANDU, May 19: Acting on a tip-off, a team of police has raided in a flat in Chabahil Ganesthan and arrested three people involved in Hundi, the illegal money transfer system.

KATHMANDU, July 8: Acting on a tip off, police have arrested two persons with Rs. 10 million from Ward 12 of Birgunj sub metropolis. The two, Rahul and Roshan Kesari were arrested for their involvement in Hundi transactions.

The preferred method of sending money via the Korea-Nepal remittance corridor is not formal banking channel. It is an informal remittance transfer system called hundi. Central banks of Nepal and Korea do not recognize hundi as an official remittance transfer. So why is it in vogue?

KATHMANDU, Aug 29: Metropolitan Police Crime Division (MPCD) on Monday arrested eight persons, including an India, for their involvement in Hundi business from different parts of the capital. The business, which involves transfer of money through illegal channels, is considered a criminal offence. During the crackdown, police seized Rs 17.2 million and IRs 100,000.

KATHMANDU, Aug 30: Metropolitan Police Crime Division (MPCD) on Monday arrested eight persons for dealing with the illegal Hundi business (money transfer via illegal channels) from different parts of the Capital City.

Difficulty for operation of remittance companies there blamed KATHMANDU, June 11: With remittance companies finding it difficult to expand their operation, Nepali living in the countries like Hong Kong, South Korea, Australia and Israel are using Hundi system to send their hard-earned money back home. According to stakeholders, the difficult process for remittance companies to expand presence in these countries where a large number of Nepali are currently living and working to start their operation is helping to flourish informal remitting system like Hundi.  Lack of domestic companies in the destination countries, particularly South Korea and Israel, leaves Nepalis there with no option but to use Hundi system.