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.
As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.
Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.
We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.
Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.