PressAdda
Kathmandu — India’s central bank, the Reserve Bank of India (RBI), has amended its Foreign Exchange Management Rules, allowing high-denomination Indian notes to be carried to Nepal.
भारतको आकस्मिक ठूलो निर्णय : करोडौं नेपाली प्रत्यक्ष प्रभावित हुने!
Under the new rules, there is no limit on carrying ₹100 notes, while notes above ₹100 can be brought or taken up to ₹25,000. Only individuals traveling can carry these notes; sending them through other means is prohibited.
Previously, India’s 2016 demonetization had banned large notes from being moved to Nepal. With the RBI’s new amendment, Nepali and Bhutanese citizens can now legally carry high-denomination notes.
Nepal Rastra Bank will implement policy adjustments to allow these notes in circulation in Nepal. However, Nepali citizens are restricted from carrying more than NPR 5,000 abroad. The move is expected to ease challenges for tourists, traders, and businesses.
India’s new policy change allowing high-denomination Indian rupees to be carried to and from Nepal is expected to directly impact millions of Nepalis.
Students crossing the border for education, travelers seeking medical treatment or tourism, residents of border areas, traders doing business in Indian markets, and workers commuting for employment will all be affected.
The move is anticipated to ease the long-standing difficulties caused by restrictions on large notes while also significantly influencing trade, remittances, and other cross-border economic activities.
