Nepal Rastra Bank has introduced a new provision allowing individuals to bring Indian currency notes of Rs 200 and Rs 500 denominations into Nepal up to a limit of Rs 25,000.
According to a notice published by Nepal Rastra Bank on Friday, people can now bring Rs 200 and Rs 500 Indian rupee notes. However, the total amount of these notes must not cross 25 thousand Indian rupees.
The New Rule vs Old Rule
Before this new decision, people were allowed to carry up to 25 thousand Indian rupees, but they could only bring notes of Rs 100 or smaller values. This new rule open the way to bring Rs 200 and Rs 500 notes as well.
Big Relief for Tourists and Workers
This decision is expected to help Indian tourists visiting Nepal and Nepali workers who return home from India. In past, many faced problems because they could not bring Rs 500 notes. Now, this difficulty will be solved.
Restrictions on Rs 2,000 Notes and Issue Date
However, the central bank made it clear that Rs 2,000 Indian notes are still banned in Nepal. Also, the Rs 200 and Rs 500 notes brought to Nepal must be issued by the Indian government in November 2016 or after that.
Back in 2016, India did demonetization, after which Nepal had banned the movement of high-value Indian banknotes.
AI Disclaimer: This article was originally published on https://bajarkochirfar.com. It has been translated with the help of AI. For the best understanding and accurate facts, we recommend reading the original Nepali version.
