September 20: Banks and Financial Institutions (BFIs) have decided to make new banknotes available to the general public for the upcoming Dashain festival starting from today (September 20).
New notes have special importance during the Dashain festival. Therefore, Nepal Rastra Bank has informed that arrangements have been made for the distribution of new banknotes. According to the central bank's note management department, new banknote exchange facility has been provided in the Kathmandu Valley from Monday via designated branch offices of licensed commercial banks.
A circular issued by the central bank says that new notes can be exchanged at the nearest branch office specified by the commercial bank. Considering the risk of coronavirus infection, NRB has requested to issue the banknotes by adopting proper safety protocols against coronavirus.
It has also been mentioned in the circykar that the notes can be exchanged by visiting the provincial office of Nepal Rastra Bank outside the Kathmandu Valley or the nearest branch office specified by the commercial banks.
The central bank has decided to distribute banknotes of denominations of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 amounting up to Rs 15 billion. In total, the central bank is preparing to distribute new notes worth Rs 35 billion.
Arrangements have been made to distribute the new notes through 27 commercial banks and their branch offices. Such arrangements have been made realizing the possibility of a long queue at the central bank office for new notes.