KATHMANDU, May 13: Police have arrested five persons for possessing banned Indian currency notes of Rs 500 and Rs 1000 denomination amounting to 1600000 Indian rupees.

Spokesperson at the Metropolitan Police Range Kathmandu, Hobindra Bogati, said that Shambhu Pariyar, Santosh Thapa Magar, Rajendra Ghishing, Dhandhwaj Tamang and Ram Bikram Khadka were arrested from Blue Moon Hotel at Thamel on Sunday night.

The police have handed over the five arrested to Department of Revenue Investigation for further investigation. The authorities have launched investigation into the matter.

The government has urged the people to use only IRS 100 in Nepal while restricting the use of high denomination currency notes since December, 2018. 

The governmen has urged its people to refrain from keeping or carrying Indian bank notes higher than 100 notes as it has not legalised the Indian bank notes of denomination Rs 200, Rs 500 and Rs 2000. 

 
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