Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
May 27, Saturday 2017 6:27 AM       

       HEADLINES: One more infant dies in Attappady                                              Govt will not drop Vizhinjam project, says Kadannappally                                              Court rejects govt’s plea against date extension for plus one admissions                                              Modi is RSS “Chowkidaar”: Chennithala                                              ‘Nirmalyam’ was not objected because Hindu organisations weren’t strong then: K P Sasikala                                              Concrete steps have transformed lives of people: Modi                                              Environment ministry bans cattle slaughter                                              72 hours on, wreckage of missing Sukhoi-30 found                                              PM inaugurates country's longest river bridge                                              Indian Army neutralises two Pak BAT terrorists in Uri                                              Gunmen attacks Christians in Egypt, 23 killed                                              Trump's son-in-law under FBI scanner in Russian probe                                              Second edition of 'Indian Open of Surfing' gets underway in Mangaluru                                              Kaumudi Facebook
       WORLD Next Article: Ex-Chinese diplomat asks China to 'adjust' stand on Azhar  
       'RBI to give Rs 1 bln in 100-rupee banknotes to Nepal to ease crisis'
 
         Posted on :21:28:08 Jan 6, 2017
   
A A
       Last edited on:21:28:08 Jan 6, 2017
         Tags: 'RBI to give Rs 1 bln in 100-rupee banknotes
 
KATHMANDU: The RBI has agreed to provide Rupees one billion in Rs 100 denomination notes to Nepal Rastra Bank (NRB) to ease the acute shortage of Rs 100 notes faced by the Himalayan nation, a media report said today.
 
The NRB's plan to import INR 100 denomination notes was delayed due to the Indian government's move to demonetise INR 500 and INR 1,000 notes on November 8.
 
As RBI was under pressure to manage cash after the demonetisation, the central bank of India had told its Nepali counterpart that Nepal may have to wait till the situation normalises in India, The Himalayan Times reported.
 
But, RBI recently wrote to NRB that it will be able to provide INR one billion in INR 100 denomination notes, the paper said. As RBI has agreed to provide INR one billion, NRB officials have said that the central bank is preparing to bring the amount within January.
 
After the demonetisation in India, NRB had also lowered exchange limit of Indian banknotes in Nepal. Currently, NRB is providing exchange facility of up to INR 2,000 on basis of citizenship identification.
 
Similarly, it is providing INR 10,000 to those who submit a copy of air or train ticket to travel to India and INR 25,000 for those travelling to India for medical check-up.
 
Janak Bahadur Adhikari, executive director of the Banking Office at NRB, said that the limit of INR exchange will not be reviewed until RBI is able to provide regular exchange facility.
 
RBI has been extending INR six billion exchange facility to Nepal every year (based on Indian fiscal year calendar) but this year Nepal is unlikely to get this facility due to the demonetisation, according to Adhikari. "NRB has brought only INR 1.20 billion this year," he said.
 
Currently, NRB has around INR 3.5 billion in its coffers and after bringing another INR one billion, NRB will be able to provide exchange facility to Nepali and Indian nationals in Nepal for the next eight to nine months.
 
Hundreds of thousands of Nepalese, who earn a living by working as daily-wage labourers in India, visit the neighbouring country seeking medical treatment or rely on Indian markets to purchase daily essentials, were said to be holding big chunk of scrapped Indian bank notes.
 
The NRB had said in November that IRs 33.6 million in the denominations of 500 and 1,000 is within the financial system in Nepal. The figure included cash parked at vaults of banks, financial institutions and the NRB.
A A
       WORLD
Next Article: Ex-Chinese diplomat asks China to 'adjust' stand on Azhar
 
 
WORLD HEADLINES
Trump's son-in-law under FBI scanner in Russian probe  
Gunmen attacks Christians in Egypt, 23 killed  
Pak actress Nadia Khan accuses Hollywood actor of assaulting her daughter  
Trump admin proposes $800 mn coalition support for Pak  
UN rejects Pak claim that Indian troops targeted UN vehicle near LoC  
Suspected Manchester bomber's father, brother held in Libya  
IS kills five in first suicide attack in Somalia  
Pak hangs two terrorists involved in Peshawar school massacre  
Nepal PM Pushpa Kamal Dahal 'Prachanda' resigns  
'Enemy' will remember Pak's response to aggression: Pak Air Force chief  
'James Bond' star Sir Roger Moore dies at 89  
Pak refutes India's 'claims' of destroying its posts in Nowshera  
S Korea fires at object flying near border with Pyongyang  
Pak presses ICJ for early hearing of Jadhav case  
19 killed, 50 injured in blast at pop concert in UK  
China to block India’s NSG bid again  
Australia: Indian cabbie hospitalized post racial attack  
Trump, in address to Muslims, urges fight against terror  
Iran fires mortar shells into Pak  
Pak arrests Indian man for not carrying travel documents  
N Korea fires intercontinental ballistic missile  
Trump announces plans to soon visit Egypt  
Pak army to 'Jointly Fight' Jadhav case at ICJ  
China cripples CIA operations, kills informants  
ICJ has given no order on 'consular access': Aziz  
 
Do you agree with Centre's ban on cattle slaughter across India?
Yes
 
No
 
No Opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy