16/11/2016

Nepal bans India’s Rs 500, Rs 1,000 currency notes





Patna,(BiharTimes): The Nepal Rashtra Bank (NRB) from Wednesday stopped all transactions of Indian currency notes of Rs 500 and Rs 1,000 denominations.

The governor of NRB, which is the central bank of the country Chiranjivi Nepal, held a talk with Reserve Bank of India (RBI) governor Urjit Patel seeking exchange facility for Nepalese holding banned Indian notes here in the Himalayan Republic.

Nepal has, at present, Rs 33.6 million in the denominations of Rs 500 and Rs 1,000 within the financial system in Nepal. This includes cash parked at vaults of banks, financial institutions and NRB.

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