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Call to allow use of IC notes of 2000 denomination in Nepal

IC-2000 (1)

Kathmandu, January 12

Nepal has asked India to allow the use of Indian currency notes of 2000 denomination in Nepal.

India has banned IC notes of 500 and 1000 denominations. It has not yet monitised IC notes of 2000 denomination but plans to do so. INR 2000 notes will be legal only after India introduces FEMA notification under Foreign Exchange Management Act.

A Nepal Rastra Bank team is currently in India in a bid to facilitate the exchange of IC notes of 500 and 1000 denominations, which India has demonitised. The NRB team will raise the issue of exchange of old notes and circulation of IC notes of 2000 denomination in Nepal.

NRB Spokesperson Narayan Prasad Poudel told Onlinekhabar: Circulation of IC notes of 2000 denomination is not on the written agenda. But the team will raise this issue during discussions.

Next week, Minister for Foreign Affairs Prakash Sharan Mahat is embarking on yet another visit to India. The Economic Times informed that he will raise the issue of circulation of IC 2000 notes in Nepal.

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