Nepal Lifts Ban on ₹200 and ₹500 Indian Notes With ₹25,000 Carry Limit

Overview

• Monday’s cabinet decision allows Nepali and Indian citizens to carry higher-denomination Indian currency across the open border up to ₹25,000 per person.
• Only notes issued after November 9, 2016 are permitted, reflecting the post-demonetisation series.
• The Nepal Rastra Bank said it will issue a circular to operationalise the policy once the government’s decision is published in the Nepal gazette.
• The move follows recent Reserve Bank of India amendments to currency export–import rules allowing cross-border carriage by Indian, Nepali and Bhutanese nationals.
• Officials and reports cite expected relief for migrant workers, tourists and border businesses after years of difficulties, including past arrests and hassles tied to high-value notes.