Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2012        Go!    
 
 
January 20, Friday 2017 11:09 AM       

       HEADLINES: Permission given to carry body of Santhosh in procession                                              Kodiyeri denies party’s role in murder                                              Divorce granted by church court can't override law: SC                                              NIA says LeT behind Uri, Handwara attacks                                              LCA Tejas to take maiden R-Day flight                                              'Jallikattu' stir spreads to Lanka, UK and Australia                                              Pak parl committee seeks fund to enhance security of FO                                              Saina, Jayaram reach quarterfinals in Malaysia Masters                                              Probably one of my best innings, says Yuvraj Singh                                              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
Pak parl committee seeks fund to enhance security of FO  
'Jallikattu' stir spreads to Lanka, UK and Australia  
Earthquake of 5.4 magnitude strikes central Italy  
NSG, Azhar issues must not be 'stumbling blocks' in ties: China  
No point in blaming globalization for world's problems: Xi Jinping  
Nearly 180 missing after Mediterranean ship capsize  
Istanbul nightclub attacker who killed 39 captured  
32 dead as cargo plane crash destroys Kyrgyzstan houses  
44 jailed for mafia-style crime in China  
China hands over two ships to Pak Navy for Gwadar security  
China warns of large-scale war with US over South China Sea  
Bangladesh arrests 'mastermind' behind Dhaka cafe siege  
Climate change shows in shrinking Antarctic snows  
Obama ends 20-year-old immigration policy for Cuban migrants  
'I'm not ashamed' says Paris attacks suspect: report  
Secret police file: Trump sure of presidential win, in 1996  
Trump admn to have 'Office of the First Family': report  
Top US spy: Intel community not source of Trump leaks  
Republican-led Senate takes first step to repeal 'Obamacare'  
China not to sit idle if India sells missiles to Vietnam: Media  
Amazon Canada sells doormats with tricolour, Sushma warns of stern action  
‘Yes, we can’: Forceful, tearful Obama says goodbye in emotional speech  
At least 21 killed, 45 wounded in Kabul twin blasts: official  
China tightens security at PoK, Afghan borders to curb terror  
'Naive for India to tilt towards US in China-US trade war'  
 
Azharuddin's nomination for HCA president's post was rejected. Do you agree to this?
Yes
 
No
 
Don't know
 
 
 
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