March 17, 2011 11:42 AM

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Nepal Rashtra Bank rolls back decision to phase out Nepali currency note

Nepal Rashtra Bank has rolled back its decision to phase out Nepali currency notes bearing portraits of former Kings. The decision was taken a day after the cut-off date of March 14th saying it has postponed its earlier decision. The move follows a direction by the Commission for Investigation of Abuse of Authority asking the Central bank to start the process of phasing out old currency notes only after publishing a notice in the government’s gazette. Earlier, the Central bank had asked the public to exchange old notes with new ones saying the notes bearing the image of former kings will not come into public use.

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