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Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said. </p>
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Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said. </p>
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Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said. </p>
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November 10: The surprise ban on the circulation of INR 500 and INR 1000 banknotes by the Indian government is likely to have a major impact in Nepal. After the announcement of the scrapping of the banknotes these values, Nepal Rastra Bank (NRB) organising an emergency board meeting has banned the exchange of those banknotes in the domestic market on Wednesday, November 9. The bank directed all BFIs, money changers and general public not to have transactions with these banknotes.
Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said.
According to the NRB source, the bank holds only minimal amount of the banknotes. NRB itself has nearly Rs 200,000 worth of demolished banknotes. However, the bank anticipates that the trades dealing with India along with people residing in border areas might have subsequent amount of these banknotes.
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Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said. </p>
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<p style="text-align: justify;"><br />
Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said. </p>
<p style="text-align: justify;"><br />
According to the NRB source, the bank holds only minimal amount of the banknotes. NRB itself has nearly Rs 200,000 worth of demolished banknotes. However, the bank anticipates that the trades dealing with India along with people residing in border areas might have subsequent amount of these banknotes. </p>
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<p style="text-align: justify;"><br />
Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said. </p>
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According to the NRB source, the bank holds only minimal amount of the banknotes. NRB itself has nearly Rs 200,000 worth of demolished banknotes. However, the bank anticipates that the trades dealing with India along with people residing in border areas might have subsequent amount of these banknotes. </p>
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<p style="text-align: justify;"><br />
Although NRB has not been able regarding the management of the abolished banknotes, it has started discussions to find the possible solutions of the effects of the ban in the Nepali market. Narayan Prasad Poudel, spokesperson of the NRB informed that the central bank is preparing to write to reserve bank of India (RBI) about the matter. "The fate of the banknotes of INR 500 and Rs 1000 denominations depends on the decision of Indian Embassy, Ministry of Finance and Government of India. We will be able to decide about the matter only after their hearing," he said. </p>
<p style="text-align: justify;"><br />
According to the NRB source, the bank holds only minimal amount of the banknotes. NRB itself has nearly Rs 200,000 worth of demolished banknotes. However, the bank anticipates that the trades dealing with India along with people residing in border areas might have subsequent amount of these banknotes. </p>
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View::_renderElement() - CORE/Cake/View/View.php, line 1224
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