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KATHMANDU: The Nepal Rastra Bank (NRB) has started circulating new bank notes to the banks and financial institution (BFIs) targeting upcoming Dashain festival.
Though the central bank, in previous years, used to circulate new bank notes few days before the Dashain begins, NRB started circulating fresh notes to BFIs much earlier this year considering the Covid-19 pandemic. With this, BFIs have already started distributing new bank notes to the public to avoid possible chaos and mass gathering to collect such notes ahead of Dashain.
As per NRB, each branch of commercial banks have been provided with Rs 50 million worth new bank notes while branches of development banks and finance companies have been provided with fresh bank notes worth Rs 40 million and Rs 20 million, respectively.
Though NRB distributed such bank notes during Dashain especially from its Thapathali-based office, the central bank informed that all the public can avail new bank notes from all branches of BFIs this year.
The NRB stated that customers can exchange up to Rs 18,500 (per person) new bank notes of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 denominations.
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