In a shocking move, the Nepal government on Thursday banned the use of India’s Rs 2000, Rs 500 and Rs 200 notes.
According to Kathmandu Post, the aim is to use only Rs 100 notes for any transactions. Nepal’s Minister of Information and Communications Gokul Baskota made the announcement during a cabinet meeting.
“The government has asked the people to refrain from keeping or carrying Indian bank notes higher than Rs 100 denomination as it has not legalised them,” the Kathmandu Post quoted Minister for Information and Communications Gokul Prasad Baskota as saying.
However, the decision will majorly affect Nepalese labourers working in India as well as Indian tourists visiting Nepal. According to Indian Express, the Nepal government has plans to celebrate 2020 as the ‘Visit Nepal Year,’ and so this decision comes right in time for that.
It is to be noted that the Indian government introduced notes of Rs 2,000, Rs 500 and Rs 200 denominations after demonetisation in 2016. People have been using new Indian currency notes in the Nepali market for nearly two years.