Demonetisation: Nepal central bank in touch with RBI

Following the Indian government's demonetisation move, Nepal's central bank has been in touch with the Reserve Bank of India (RBI) for collection and deposit of old series Indian banknotes of Rs 500 and Rs 1,000, a senior official said on Thursday.

"The Nepal Rastra Bank (NRB) has been in touch with the RBI regarding Government of Nepal's request for facilitation in collection and deposit of old series Indian banknotes of Rs 500 and Rs 1,000 denominations that are already in stock of the central banks and other banks/financial institutions and held by Nepalese citizens," External Affairs Ministry spokesperson Vikas Swarup said in a media briefing here.

He said the matter also came up during a meeting between Nepal Foreign Minister Prakash Sharan Mahat and Union Finance Minister Arun Jaitley on January 17.

According to the spokesperson, on January 12, a meeting was held between officials of the RBI and the NRB.

"The meeting was productive and the RBI will remain in touch with the Nepal Rastra Bank in the matter," Swarup said.

--IANS

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