Nepal Bans Indian Currency Notes
The Nepal Rashtra Bank bans the circulation of old demonetised Indian notes in Nepal.
The Nepal Rashtra Bank [NRB] is Nepal’s Central Bank. They have banned the use of Indian notes above Rs 100. Bhisma Raj Dhungana the Director of the NRB said that, the indian government did not inform Nepal about the demonetisation of the old notes.
The old notes were being used in Nepal, were not exchanged for new notes.The NRB still have old Indian notes worth Rs 6 crore.
The Nepal government is scared that fake notes are being circulated in the country.This is why the NRB has banned the use of Rs 200, Rs 500 and Rs 2000 notes in Nepal.
After demonetisation the Government of Nepal and India discussed the exchange of the old notes, but India did not discuss the matter further.
