Friday, October 4, 2019

Nepal demands India exchange demonitised banknotes ASAP

Finance Minister Yuba Raj Khatiwada presents annual budget plan, in Kathmandu on Wednesday, May 29, 2019.

Kathamdu, October 4

Once again, Nepal had requested India to exchange the Indian banknotes of Rs 500 and Rs 1,000, demonitised by the government in 2016, that Nepalis have.

Nepal’s Finance Minister Yuba Raj Khatiwada met her his Indian counterpart Nirmala Sitharaman in New Delhi on Friday and requested to facilitate the exchange. Khatiwada informed Sitharaman that Nepalis had the demonitised notes in a significant amount.

After the demonitisation aimed at controlling the flow of black money came into effect, the Delhi government exchanged the notes possessed by the Indian nationsals. It, however, has been denying Nepal’s request for the exchange citing different reasons.

During the meeting, Sitharaman assured that India would address the concern in consensus soon.

The two leaders also discussed various other issues of mutual concern. Khatiwada also extended a Nepal visit invitation to Sitharaman.

Khatiwada is currently in New Delhi to attend a World Economic Forum function.


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