Sunday, October 11, 2020

No new notes this Dashain: Central bank

 Contrary to the tradition, the central bank has decided not to provide new bank notes for the festivals.

“Nepal Rastra Bank has decided to not provide new notes for Dashain this year due to the fears of Covid-19,” according to a press note of the central bank issued by the NRB’s Currency Management Department. “The exchange of new bank notes has been suspended to avoid crowds in the banks and financial institutions,” the press note reads.

The demand for new notes is high during Dashain and Tihar as people offer new bank notes to their elders and respected ones during the Tika.

Currently, there are some 600 billion currency bank notes that are circulating in the market. Every year the central bank arranges new bank notes to be distributed to the people. 

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