NRB authorized to mint 150 Million Rs 5 coins by government decree

KATHMANDU: The Government of Nepal has granted its endorsement for Nepal Rastra Bank (NRB) to initiate the production of 150 million coins, each bearing a denomination of Rs 5.

Following the deliberations of the Council of Ministers’ session on Tuesday, Minister of Communication and Information Technology, Rekha Sharma, provided insights to the media about the decisions taken. She revealed that NRB’s proposal to mint 150 million Rs 5 coins had been granted official approval.

Sharma, who also holds the role of government spokesperson, conveyed that a recent cabinet meeting had greenlit the proposition put forth by the Ministry of Finance. Additionally, she communicated that the cabinet had ratified the introduction of the cyber security policy.

Sharma elaborated, stating, “Based on the Ministry of Finance’s proposal, it has been resolved to authorize Nepal Rastra Bank to manufacture 150 million Rs 5 coins.

Furthermore, the cyber security policy has been endorsed. A bill concerning banking offenses and associated penalties has also been sanctioned for its submission in the parliament.”

She further shared that the cabinet meeting had extended its sanction for the introduction of the Banking Offenses and Punishment Bill, facilitating its presentation in the Parliament.