Like last year, this year, Nepal Rastra Bank will distribute dry notes instead of new notes to the common people for Dasain, Tihar and Chhath.
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Nepal Rastra Bank is going to distribute notes for Dasain from August 29 to October 10. Sukila notes will be issued simultaneously for general public from central office and regional offices of Rashtra Bank located in Thapathali, Kathmandu, Biratnagar, Janakpur, Birganj, Pokhara, Siddharthnagar, Nepalgunj and Dhangadhi.
However, although it is said that dry notes will be distributed, this year new notes of five rupees will be provided to the general public. Since there are not enough dry notes of that rate, it is said that new ones will be distributed.
Similarly, Rastra Bank has said that notes will be accepted from branches of commercial banks, development banks and finance companies. This year also, common people can exchange one bundle note of 5, 10, 20, 50 and 100. However, Ramu Poudel, head of the Rashtra Bank Money Management Department, said that if there is a demand from the citizens, even more than that amount can be provided.
Since last year, Rastra Bank has been distributing dry notes instead of new notes. Rashtra Bank argues that such a decision has been taken because additional expenses will be avoided and Sukila notes will also be managed. Due to digital transactions and other things, the management of notes is becoming a challenge after the bank notes are piled up.
Rastra Bank has been distributing new notes to common people every year not only on Dasain, Tihar, Chhath and other festivals but also on demand. On Dasain and Tihar, the Rastra Bank has been providing facilities with new currency notes by issuing notices. During Dasain and Tihar, new notes worth 60 to 70 billion are issued from Rashtra Bank. Of this, 12 to 15 billion rupees go to common people. The remaining amount is used by banks and financial institutions for banking purposes.
Especially the general public often exchange notes with a rate of less than 100. According to Rastra Bank, banks and financial institutions have been using more notes with rates above 100 (500 and 1000). Coins are not counted in this amount. On the occasion of Dasain and Tihar, along with ordinary coins, silver and gold coins, silver souvenir coins and gold asarfis are also being sold.
