KATHMANDU, Nov 3: The Nepal Rastra Bank (NRB) is making preparations to introduce new notes of Rs 100 and Rs 500 denominations that can be identified by even the visually-impaired people by touching the notes. Earlier the NRB had introduced the same type of note for Rs 1,000 with a highly-secure security thread that could be verified by machines.
The new note also helped to reduce the distribution of fake banknotes in the market, which influenced the NRB to decide upon introducing the same kind of notes of Rs 500 and Rs 100 denomination, respectively.
Citing the positive response from the market about the notes with security threads, the NRB has decided to introduce banknotes of Rs 100 and Rs 500 denominations after holding discussions, Rewati Prasad Nepal, Executive Director of the Currency Management Department of NRB informed Republica.
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“We received positive responses from the citizens regarding the introduction of new Rs 1,000 banknotes with a security thread,” Nepal said. “The NRB is making preparations to introduce security threads in Rs 100 and Rs 500 banknotes as well. Discussions for the implementation of the security thread in such banknotes will be held soon,” he said. “As most people use Rs 100 for daily transactions, the implementation of security thread in the banknotes will be received positively by the general public as well,” he added.
Banknotes of Rs 100 denomination worth as much as Rs 400 million have been printed out under the old system this year, while banknotes worth Rs 190 million of Rs 500 denomination will be printed out by November 17.
“We have received positive feedback from the visually-impaired people regarding the Rs 1,000 note as it can be easily found out if it is fake or real by touching it,” Nepal said. He also said that an agreement has been made with the note printing company to print more notes of Rs 1,000 for seven years under the same rate in case more notes need to be printed out.
According to Dev Kumar Dhakal, spokesperson for NRB, the central bank is ready to implement every safety measure when it comes to keeping the Nepali currency safe and secure. He claimed that the NRB is ready to add safety measures to the notes, as they also represent the nationality of Nepal. “Discussions will be held to further improve the security of banknotes. We will improve the security by learning from the counterfeit notes in the market,” he said. “The security threads implemented on Rs 1,000 notes have helped to secure the notes. The NRB is prepared to add effective security measures to further strengthen the security of the banknotes in the upcoming days,” he added.
