Banks and other financial institution do not accept Rs. 500 and Rs.1000 Indian currency notes as there are high chance of the notes being fake.[break]
Local and business people informed that even though the notes are banned, they accept it for easy transactions.
The notes are used easily near the Indo-Nepal border informed a local businessman. Soldiers recruited in the Indian army bring Indian currency easily into the country which is eventually circulated in the market.
The businessmen involved in ferrying goods across the border are also responsible for circulating notes in the Nepali market.
India had banned Rs. 500 and Rs.1000 notes ten years ago, when fake notes came into maximum transaction.
Meanwhile, Nepal is trying to lift the ban on the notes, citing difficulties that Indian tourists and pilgrims face.
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