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Nepal bank announces ban of Indian notes above Rs 100

IANS  |  Kathmandu 

Nepal's central has announced the ban of Indian notes with denominations above Rs 100.

The Rastra (NRB) on Sunday issued a circular for the institutions licensed by it notifying them about the ban, reports

Nepal's cabinet in December had decided to ban the use of these notes.

The decision to ban these notes has come a time when the NRB has requested the of India (RBI) arequesting the latter to allow to use notes with all denominations.

Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, January 21 2019. 10:54 IST
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