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No currency crunch this Dashain: NRB
KATHMANDU, JUL 10 -
Nepal Rastra Bank (NRB) has said there would be no shortage of currency notes during the Dashain festival this year as the central bank has already started bringing new notes after getting them printed.
The shortage of currency notes during Dashain is people’s major concern as they have faced acute shortage of them last Dashain.
Even government empl-oyees, pensioners and employees of private companies had failed to
withdraw their deposits from banks and financial institutions due to scarcity of notes last year.
NRB governor Yubaraj Khatiwada said on Friday that the there would be no shortage of notest this year around. “We can provide sufficient notes, both new and old, for Dashain,” he told economic journalists at an interaction here.
Getting new currency notes will be tough during the biggest festival of the Nepalis as the central bank is set to deliver old but clean notes considering the fact that new notes become useless after the festival as colours put on the notes render them unusable.
“Our priority will be to send old notes as far as possible given that fact that
we have to burn 80 percent of the new notes after Dashain and Tihar which come back to the NRB,” said a senior NRB official.
Khatiwada said the central bank will start delivering new notes to banks throughout the country from the second half of August targeting the Dasahin festival.
NRB officials said the quantity of new notes ordered for printing would be sufficient for three years. “Sixty percent of the
total notes ordered has already been delivered to us,” said the official.
Posted on: 2010-07-11 09:25
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