Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » India
1-min read

Nepal Hopes India Will Take Back Demonetised Notes Worth Rs 7 Crore

Demonetisation caught Bhutan and Nepal off guard where Indian currency is widely used.

PTI

Updated:January 24, 2020, 7:37 PM IST
facebookTwitter Pocket whatsapp
Nepal Hopes India Will Take Back Demonetised Notes Worth Rs 7 Crore
Representational image.

Kathmandu: Nepal's Central Bank is saddled with Rs 7 crore of demonetised Indian currency but India is not making "adjustments" to take back the notes, Foreign Minister Pradeep Kumar Gyawali said on Friday, hoping the scrapped notes would be accepted by its neighbour.

The Indian government on November 8, 2016 announced the ban on old 500 and 1,000 rupee notes to curb black money in the system.

"Around INR 7 crore (demonetised currency) is deposited in our Central Bank. It went through the banking channel, I don't know why India is not making adjustment (in the matter)," Gyawali said.

Demonetisation caught Bhutan and Nepal off guard where Indian currency is widely used.

"We are not talking about the money which was transacted through the informal channels but it was through the banking channel. So I am requesting the Indian side to think about this pending issue," Gyawali said.

Of the Rs 15.41 lakh crore worth Rs 500 and Rs 1,000 notes in circulation on November 8, 99.3 per cent or notes worth Rs 15.31 lakh crore have returned to the banking system.

"It is upto India to take a decision. We have been requesting the Indian government for the past couple of years. We hope India will respond positively," Finance Minister Yuba Raj Khatiwada told PTI.

The land-locked country depends on India for trade and supplies. Indian currency is widely used in Nepal for day-to-day transactions, especially in the border areas.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

facebookTwitter Pocket whatsapp

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results