Nepal gives green signal to Indian currency
If you are planning to visit Nepal or visit there frequently, then this news is no less than a big gift for you. The biggest headache that had remained for Indian tourists and people working there for the last decade is now over. Nepal government has reduced its strictness regarding Indian currency by removing the 10 year old ban. Now you will not have to face the hassle of exchanging notes or depositing money while traveling to Nepal, because Nepal has given green signal to Indian 200 and 500 rupee notes.
Approval given with this one condition
on monday Nepal An important cabinet meeting was held, in which this historic decision was taken. The government has decided that now Indian and Nepali citizens can carry notes of Rs 200 and Rs 500 with them while travelling. This decision has come when the Reserve Bank of India (RBI) changed its rules and gave permission to carry large currency for traveling to neighboring countries.
However, passengers have to keep in mind that the government has also drawn a Lakshman Rekha for this. You can take with you only a maximum of Indian currency up to Rs 25,000 in the form of these big notes. This step will not only make travel easier but will also warm the trade relations between the two countries.
Vigor will return to the markets again
This ban on currency notes broke the back of Nepal’s economy, especially the tourism sector. Nepal’s casinos, big hotels and traders in border markets have suffered huge losses in the last few years. Tourists coming from India were often not able to bring big notes with them, due to which their spending power was limited.
Many times, Indian tourists were forced to pay fines due to lack of knowledge about currency rules, which spoiled the fun of their trip. Now after this relaxation, it is expected that Nepal’s hospitality industry will get a big boost and Indian tourists will be able to go there and spend freely.
Now just waiting for an official paper
Nepal Rastra Bank (NRB) spokesperson Guru Prasad Paudel has clarified that the decision has been taken by the government and now only formalities are left. As soon as this decision is published in Nepal Gazette (Nepal Gazette), the central bank will immediately issue a circular. As soon as this circular is issued, keeping Rs 200 and Rs 500 notes will become completely legally valid.
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