KATHMANDU, Oct 29: A total of Rs 76 billion was mobilized out of the country’s banking system for Dashain and other festivals.
According to Nepal Rastra Bank (NRB), Nepali banks and financial institutions had cash circulation of Rs 696 billion as of September end. The amount has dropped to Rs 620 billion.
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NRB had issued new paper notes in denominations of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 for Dashain. During the festival, people carry out large chunks of new paper notes and currency.
Gunakar Bhatta, spokesperson for the NRB, said the circulated cash normally comes back to the banking system after Chhath, one of the festivals that is celebrated immediately after Tihar.
