Nepal's central bank bans Indian notes with denominations above Rs 100
- Country:
- India
- Nepal
Nepal's central bank has announced the ban of Indian currency notes with denominations above Rs 100. The Nepal Rastra Bank (NRB) on Sunday issued a circular for the institutions licensed by it notifying them about the ban, reports Xinhua news agency.
Nepal's cabinet in December had decided to ban the use of these currency notes. The decision to ban these notes has come a time when the NRB has requested the Reserve Bank of India (RBI) arequesting the latter to allow Nepal to use currency notes with all denominations. Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal.
(With inputs from agencies.)
- READ MORE ON:
- Nepal Rastra Bank
- central bank
- Nepal
- institutions
- Indian
- Xinhua
- Reserve Bank of India
Advertisement
ALSO READ
EU-backed ILO project launched for reforms in labour market institutions in Moldova
Nepal invites investments from Indian businesses
Nepal cabinet recommends prorogation of winter session of lower House
Nepal's Airee smashes six sixes in an over; third man to achieve the feat in T20Is
GLOBAL MARKETS-Stocks tumble, dollar firms amid geopolitical risk, mixed central bank views