KATHMANDU, Aug 30: Nepal Rastra Bank (NRB) has decided to issue new paper notes only in the denomination Rs 5, while releasing clean notes on other denominations for the upcoming Dashain.
Aiming to comply with its cost management strategy and to promote digital transactions, the NRB since last year has started releasing only clean notes, replacing the traditional practice of issuing new notes for the biggest festival of Hindus. NRB was spending an average of Rs 1.3 billion annually on printing new banknotes during the festival, which is around a month away.
NRB set to distribute new currency notes for Dashain festival
According to a NRB source, people can access to exchange clean notes and new notes worth up to Rs 18,500 per person from any commercial bank and seven provincial offices of the central bank.
