Reserve Bank of India has recently introduced a new regulation, under which Nepalese traveling to India or Indians traveling to Nepal can carry bank notes above Rs. 100 denomination up to the limitation of Rs. 25,000. Earlier, there was the provision that only bank notes up to Rs. 100 denomination can be carried in both the cases.
However, to make this regulation effective Nepal Rastra Bank, the central bank of Nepal, should also amend its regulation. NRB will soon bring a new regulation similar to that introduced by RBI to make the provision effective, said NRB’s spokesperson Guru Prasad Paudel. The tourists and businessmen both are facing problem due to the ban in the use of larger denomination Indian bank notes.
