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Nepal Asks RBI to Legalize Banned Currency Notes

January 08, 2019

Nepal Asks RBI to Legalize Banned Currency Notes
According to a media report, the Nepal Rastra Bank (NRB) which is the central bank of Nepal has urged the Reserve Bank of India (RBI) to legalize new currency notes in its country. It wrote a letter to India’s central bank asking it to make currency notes of ₹200, ₹500 , and ₹2,000 legal tender which are currently banned. 

At present, RBI’s norms dictate that only the currency notes of ₹100 denomination or less are circulated in Nepal. 

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