‘Sabse Bada Rupaiya’, No More, In Nepal: Country Bans High-Denomination Indian Currency; Hard Impact Likely

High denomination Indian currency, i.e. Rs 2,000, Rs 500 and Rs 200 notes, have been disallowed by the Nepalese government, reports The Tribune.

According to the Kathmandu Post, the Minister for Information and Communications, Gokul Prasad Baskota, has stated that the Government of Nepal has urged people to discontinue using or even carrying Indian bank notes higher than the Rs 100 denomination since those are not recognised as legal tender.

The move is bound to affect Indian tourists who travel to Nepal, as well as countless Nepalese workers employed in India.

The new notes of Rs 2000, Rs 500 and Rs 200 denomination were introduced by the Indian government after removing all previous currency from circulation during demonetisation.