March 1, 2017 4:58 PM

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RBI officials reviews preparations for providing exchange facility to Nepalese holding demonetised 500, 1,000 currency notes

Reserve Bank of India, RBI officials took stock of preparations made by Nepal Rastra Bank (NRB), the Central Bank of Nepal for providing exchange facility to Nepalese holding demonetised 500 and 1,000 currency notes. <br/><br/>The two-member RBI team discussed modalities and technical issues related to currency exchange with NRB officials at Kathmandu today. The RBI officials also held discussions with commercial bankers. According to NRB 8.74 crore demonetised notes of 500 and 1,000 is within the financial system in Nepal. The figure includes cash parked at vaults of banks, financial institutions and NRB. <br/><br/>A Nepalese delegation had visited India in January this year to discuss the issue of providing currency exchange facility to Nepalis holding old 500 and 1000 Indian notes.<br/><br/>

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