Nepal govt bans usage of higher denomination Indian currency notes

The decision can affect Nepalese labourers working in India as well as Indian tourists visiting Nepal

A man shows new currency notes of Rs 200 and Rs 50 outside the Reserve Bank of India in New Delhi on Friday.This is the first time that Rs 200 banknotes were introduced in India. Photo: PTI
A man shows new currency notes of Rs 200 and Rs 50 outside the Reserve Bank of India in New Delhi on Friday.This is the first time that Rs 200 banknotes were introduced in India. Photo: PTI
Press Trust of India Kathmandu
Last Updated : Dec 14 2018 | 12:34 PM IST

Don't want to miss the best from Business Standard?

The Nepal government has banned the use of Indian currency notes of Rs 2,000, Rs 500 and Rs 200 denominations, according to a media report.

The government has asked the people to refrain from keeping or carrying Indian bank notes higher than Rs 100 denomination as it has not legalised them, The Kathmandu Post quoted Minister for Information and Communications Gokul Prasad Baskota as saying.

The decision can affect Nepalese labourers working in India as well as Indian tourists visiting Nepal.

The Indian government introduced notes of Rs 2,000, Rs 500 and Rs 200 denominations after demonetisation in 2016.

People have been using new Indian currency notes in the Nepali market for nearly two years.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Dec 14 2018 | 11:10 AM IST

Next Story