India urged to exchange old INR

Kathmandu, January 17

Foreign Minister Prakash Sharan Mahat has strongly urged Indian authorities to ensure smooth exchange of the old Indian currency notes of Rs 500 and 1,000 denominations that Nepali banks and people are holding.

In a meeting with Indian Finance Minister Arun Jaitley and Minister of State for External Affairs of India General VK Singh in New Delhi today, Mahat requested that the state of confusion should be removed sooner than the later on exchange of old Indian currencies of high denominations.

Earlier, Nepal Rastra Bank had informed at least 33.6 million INR of Rs 500 and 1,000 denominations were held by NRB and other banks.

It can be recalled that hundreds of millions Indian rupees of such denominations were kept by common Nepali citizens as well as business people.

“The Indian currencies of high denomination were earned by poor Nepali citizens legally,” Foreign Ministry spokesperson Bharat Raj Paudyal quoted Mahat as telling Indian Finance Minister Jaitley. “I would like to draw your kind attention to the need for early exchange of the amount.”

It’s learnt that Jaitley responded affirmatively.

Foreign Minister Mahat is the seniormost Nepali official to take up this concern with the Indian side while visiting India.

Earlier, Prime Minister Pushpa Kamal Dahal had made a telephone call to his Indian counterpart Prime Minister Narendra Modi and sought the latter’s help for smooth transaction facility of the old Indian currency notes.

Earlier today, Mahat addressed the second edition of the Raisina Dialogue and stressed on building new “highways of hope and healings’ connecting all states and peoples in this region.