FNCCI urges government to manage Indian currency

FNCCI urges government to manage Indian currency

Kathmandu, November 14
The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has urged the government to manage the Indian currencies of 500 and 1,000 denominations owned by Nepalis.
A delegation of industrialists led by FNCCI Chairperson Bhawani Rana met Prime Minister Pushpa Kamal Dahal at his office in Singha Durbar on Monday and urged him that government took initiative to manage the banned Indian notes Nepali people and industrialists and traders have.
After India banned the use of its notes with 500 and 1000 denominations, it created uncertainty among Nepali people and businesspersons. So the government is asked to solve this serious problem through diplomatic channel, informed FNCCI Chairperson Rana.
Following the India’s ban of its currencies, Nepal Rastra Bank too has issued circular to finance and banking institutes not to change the banned notes. NRB has already written to the India’s central bank informing there were more than Rs 30 million Indian currencies of the banned denomination in Nepali banking system. RSS