SUBSCRIBERS

Nepalis, saddled with banned Indian rupee notes, risk losing savings

Nepal depends heavily on funds from workers in India; delay in resolving issue a concern, says an official

Published Tue, Jul 18, 2017 · 09:50 PM

Kathmandu

NEPALIS stand to lose millions of dollars held in high-value Indian bank notes that India banned last year and has yet to exchange, a Nepali central bank official said on Tuesday.

Indian Prime Minister Narendra Modi in November banned 500 rupee and 1,000 rupee bank notes as part of a drive against unaccounted wealth in India that has also hit Nepal where Indian rupees are widely used.