KATHMANDU, Sept 20: Banks and financial institutions have started providing new banknotes for use in the Dashain festival from Monday.
Nepal Rastra Bank (NRB) has stated that necessary arrangements have been made for the distribution of banknotes as the new banknotes have special significance in Dashain festival. According to the Central Bank's Note Management Department, the notes exchange facilities have been set up in the Kathmandu Valley through the designated branch offices of licensed commercial banks from Monday.
According to NRB, notes can be exchanged at the nearest branch office specified by the commercial bank. Considering the risk of transmission of COVID-19, the NRB has requested circulating the notes following the health safety standards.
The facility of note exchange can be availed by visiting the provincial office of NRB or the nearest branch office of the commercial bank outside the Kathmandu Valley. Ordinary people have been requested to adopt health safety standards prescribed by the government and the local administration and maintain social distance. The central bank is preparing to distribute new notes of Rs 5, Rs 10, Rs 20, Rs 50 and Rs 100 worth Rs 15 billion. In total, the central bank is preparing to distribute new notes worth Rs 35 billion.
Taking the long queue at the central bank offices to avail new notes into consideration, necessary arrangements have been made to distribute the new notes through all 27 commercial banks and their branch offices across the country.