2017-01-07 Sat

RBI is going to offer 100 rupee notes worth Rs. 1 billion in January to the Nepal Rastra Bank (NRB) as the country is facing a shortage of 100 denomination Indian banknotes. Officials state that this event was delayed since 500 rupees and 1000 rupees notes were demonetized. Nepal had also lowered exchange limit of Indian banknotes in Nepal after demonetization.

Rs 2000 can be exchanged on the basis of citizenship identification. Rs. 10,000 is given to those who submit a copy of air or train ticket to travel to India and Rs. 25,000 for those travelling to India for a medical check-up. This year Nepal might not get exchange facility due to the demonetization move. More notes will be required for offering exchange facility to Nepali and Indian nationals in Nepal for the coming eight to nine months.