BATAS Associates Pvt. Ltd. (BA) is principal agent of Himal Remit, Himalayan Bank Ltd. Himalayan Bank does the international marketing and the tie-ups with international banks, companies, agents to collect the money from the senders. BA distributes the senders money to their familyâ€™s or the authorized via online payments. BA is open and functions throughout all the days in a year. On the Fiscal Year of 2012/13, BA had distributed NRs. 5475 million ($547million).
Remittance flow in Nepal is growing day by day. In the coming decades, demographic forces, globalization, and climate change will increase migration pressures both within and across borders, and this in turn will increase the demand for payments and remittances worldwide.
There is a growing consensus that a well-functioning payment and remittance system plays a critical role in enhancing financial inclusion and poverty reduction. BA has its network covering 14 zones and 74 districts with the 2,400 sub-agents. On the agents category 1200 are individuals, 600 are firms, 400 are companies and 200 are the financial institutions branches covering all over the country. Due to non-availability of banking services in rural areas, Nepalese people living in rural areas are not able to connect with banking services.
Besides remittance, BA is the promoter of NAMI educational institute, developer of Pathi khola (1MW), Sikless (13MW),Â PhawaÂ Khola( 5MW) hydropower and the exploring Â mining sectors of Nepal.