It's illegal here: Nepal bans use of Indian currency notes above Rs 100
15 Dec 2018 12:25 PM IST
The decision can affect Nepalese labourers working in India as well as Indian tourists visiting Nepal.
As per estimates, only around Rs 1,650 crore was raised in the H2 of the last fiscal, resulting in total securitisation volumes of around Rs 7,150 crore for the full year, a 20 per cent drop from FY16.
Kathmandu/New Delhi: 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 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.
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