Nepal Lifts Ban on Indian Currency: The Nepali government has made a significant decision, providing considerable relief to travelers visiting Nepal. It has now permitted Nepali and Indian citizens to carry Indian currency notes of Rs 200 and Rs 500 when crossing the border. This Cabinet decision aligns with a notification issued by the Reserve Bank of India on November 28, which allows individuals excluding citizens of Bangladesh and Pakistan to carry Indian currency notes exceeding Rs 100, up to a maximum of Rs 25,000, when traveling between India and Nepal or Bhutan, and vice versa.
Nepal Lifts Ban on Indian Currency
The Cabinet has decided to allow Nepali and Indian citizens to carry Indian currency notes of Rs 200 and Rs 500 while travelling to India and returning to Nepal. This decision will facilitate travel for Nepalis travelling to India for medical and other purposes. The official said that Indian tourists, including pilgrims, visiting Nepal, who previously faced scrutiny and hassles when carrying Indian currency notes of more than Rs 100, will also benefit from this decision.
Nepal Lifts Ban on Indian Currency: Nepal Allows ₹200 ₹500 Notes
Following India’s announcement of demonetization of 500 and 1000 rupee notes in November 2016, Nepal also banned the use of these notes in its territory. On 8 November 2016, the Indian government demonetized 500 and 1000 rupee notes and replaced them with 2000 rupee notes with the aim of detecting undeclared assets and fighting corruption. According to Nepal’s central bank, notes worth more than 50 million rupees from that period are still in Nepal’s banking system.
Nepal Currency Rule Update
Residents of communities along the India-Nepal border have long been demanding the easing of restrictions on high-denomination Indian currency notes to ease their daily lives. Prior to demonetization, Nepal’s central bank had lifted the ban on the use of 500 and 1000 rupee notes in 2015 in line with the relaxation granted by the Reserve Bank of India. Prior to this, Nepal had banned the use of 500 and 1000 rupee notes since June 2000.
