NRB instructs banks not to issue the king's picture notes

May Sun 2020 08:44:21

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NRB instructs banks not to issue the king's picture notes

Nepal Rastra Bank (NRB) has issued new instructions to banks and financial institutions not to issue banknotes with the king's picture.

NRB has issued this directive to implement the clean note policy.

The general public, on the other hand, is allowed to deposit notes in the king's head, but the banks are not allowed to re-flow those notes to customers. 

Banks and financial institutions will now have to categorize into three types: ATMs and other machines, which can be disbursed by disbursement.

The NRB has asked to classify the issuance of banknotes as invalid notes as the letters, numbers, pictures and security features of the notes are misunderstood or damaged.