Nepal Rastra Bank (NRB) is preparing to exchange currency notes, providing up to Rs 18,500 per person, for the upcoming Dashain festival this year. The central bank plans to initiate the exchange of these fresh notes starting around the day of Ghatasthapana, a significant festival date.
Traditionally, NRB has facilitated the exchange of new notes for Dakshina (cash offerings made during rituals and festivals) and for Puja (worship purposes) during the Dashain-Tihar festival season. Currently, NRB and the banks that have accessed note fund facilities are in the process of collecting information to ascertain the required quantity of new notes. Once these details are compiled, the exchange process will commence.
Naresh Shakya, the head of the Currency Management Department at NRB, has confirmed that preparations are underway to exchange currency notes, with each person eligible to receive up to Rs 18,500, starting from Ghatasthapana. Notably, NRB has maintained this maximum limit of Rs 18,500 per person for the past two years.
Banks and financial institutions are fully prepared to provide new notes in accordance with the demand and the number of customers they serve.