But it's not our fault, says Nepal's RB Governor
THE Federation of Nepalese Chambers of Commerce and Industries recently petitioned NRB, asking it to lift the ban on the Indian notes. The Nepal Rashtra Bank explained, “it is not in our hands; Unless India amends its own Act, the ban will be on in Nepal and other countries as well." In fact very recently, Yubaraj Khatiwada, Governor of Nepal Rastra Bank (NRB) requested Indian RBI Governor Dr. Subba Rao to lift the ban on Rs 1,000 and Rs 500 Indian rupee notes in Nepal.
Actually Nepal is stuck with nearly 40 Crores of seized Indian Currency. RBI refuses to accept thees notes as they are ILLEGAL. And those people who must have carried these genuine notes into Nepal have lost their valuable cash.