Reserve Bank Of India To Give 1 Billion INR In 100 Rupee Notes To Nepal Rashtra Bank

National News, News

Reserve Bank of India (RBI) will supply Nepal Rashtra Bank (NRB) with 1 billion INR in 100 INR currency notes. Since demonetization was announced, Nepal had been in problem as Indian currency is freely exchanged in the country. Due to the shortage of 100 INR notes, NRB had to reduce the exchange limit. At the moment, any Nepali citizen can exchange up to 2,000 rupees by submitting proof of citizenship.

Nepal Rashtra Bank
Nepal Rashtra Bank

People travelling to India can exchange up to 10,000 INR by showing copy of train or air ticket. People travelling to India for medical check-up can exchange up to 25,000 INR. These limits will be in force until RBI can guarantee regular supply of cash. At the moment Nepal has 3.5 billion Indian currency tucked away. Another 1 billion will allow NRB to exchange Indian currency till September or October.

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Soumyajit DasMazumdar
Soumyajit is an SAP technical consultant with a flair for writing. An avid blog reader, he started off with a free WordPress blog and slowly moved to his own personal news and blog site. Apart from writing he loves reading books, playing table tennis and long bike trips. He is currently trying to learn playing guitar and failing miserably.

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