Rastra Bank to roll out new notes from September 20

Nepal Rastra Bank (NRB) is set to roll out new bank notes for Dashain and Tihar festivals from September 20.

According to the Executive Director of NRB, Revati Nepal, new notes can be availed from the Baluwatar office and provincial offices along with all ‘A’ class banks.

NRB, which has been distributing new notes for Dashain every year, did not distribute new notes last year due to the coronavirus pandemic. NRB is about to distribute new notes after the daily new COVID-19 cases have plummeted significantly this year.

Earlier, people used to line up at Nepal Rastra Bank from early morning to get new notes.

However, NRB has said that the Bank will not be as crowded this year as it used to be in the past because the new notes will be sent to regional offices other ‘A’ class banks.

According to Executive Director Revati, new notes will be distributed at the rate of Rs 18,500 per person. This means each person will be able to get a bundle each of Rs. 5 to Rs. 100.

NRB spends around Rs 3 billion annually on printing, distribution and management of bank notes.