Not new to Dasain, Sukila notes

The Rashtra Bank Management Committee meeting held last week formally decided to distribute dry notes instead of new notes this year. This decision has been taken because extra expenses will be avoided and Sukila notes will be managed.

Rashtra Bank co-spokesperson Dilliram Pokharel said that they are preparing to distribute Sukila notes instead of new notes this year. It is not that notes will not be given, as in the past, notes will be distributed to common people this year too. But it's not new, it's old," he said.

Rastra Bank has been distributing new notes to the 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 notes by issuing notices. New notes worth 60 to 70 billion are issued from Rashtra Bank on Dasain and Tihar. Of this, 12 to 15 billion rupees go to the general public. The remaining amount is used by banks and financial institutions for banking purposes.

Especially common people exchange notes of smaller than 100 rate a lot. 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.

Rastra Bank has been spending huge amount of money for printing new notes. According to a study of the Rashtra Bank, in the last five financial years, an average of 1.336 million rupees has been spent on printing notes and 1.337 million rupees and 1.375 million rupees while distributing them across the country.

Some of the notes distributed in this way return to Rashtra Bank through banks and financial institutions between Dasain and Tihar and most of them after Tihar. After returning to the National Bank, those notes become 'Sukila'. Banks and financial institutions have taken those notes, but they have been piling up in the vaults of the Rashtra Bank because the common people do not take them. Now that note is going to be managed.

On the one hand, the demand for new notes is increasing every year and on the other hand, because the usable notes of the same rate are stored in the warehouse of the Rastra Bank, the management has become a challenge, according to the Rastra Bank. The Rastra Bank has said that the demand for new notes but the tendency of not wanting to take good notes that can be used is piling up a large amount of notes in the vaults.