First Business News Portal in English from Nepal
KATHMANDU: Nepal Rastra Bank (NRB) is actively preparing to issue fresh currency notes worth Rs 18,500 per individual in anticipation of the upcoming Dashain festival this year. The central bank intends to kick off the distribution of these new notes around the auspicious occasion of Ghatasthapana, a significant festival date.
Traditionally, NRB has facilitated the exchange of new currency notes for Dakshina (cash offerings made during rituals and festivals) and for Puja (worship purposes) during the Dashain-Tihar festival season.
Currently, NRB, in collaboration with banks that have access to note fund facilities, is in the process of gathering data to determine the required quantity of new notes. Once this information is compiled, the distribution process will commence.
Naresh Shakya, the head of NRB’s Currency Management Department, has affirmed that preparations are in full swing for the distribution of new notes, with each individual eligible to receive up to Rs 18,500, beginning on Ghatasthapana. Significantly, NRB has maintained this maximum limit of Rs 18,500 per person for the past two years.
Banks and financial institutions are fully equipped to provide new currency notes based on the demand and the number of customers they serve, ensuring a seamless distribution process.
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