Demonetisation: Nepal, Bhutan central banks in touch with RBI

New Delhi, Nov 24 (IANS) The central banks of both Nepal and Bhutan, the two South Asian nations where Indian currency is widely in circulation, are in touch with the Reserve Bank of India (RBI) following the demonetisation of Rs 500 and Rs 1,000 bank notes, a senior official said on Thursday.

“Both the Nepal Rashtra Bank and the Royal Monetary Authority of Bhutan are in touch with the RBI regarding facilitation of collection and deposit of Indian old series notes of Rs 500 and Rs 1,000 denominations that are already in stock with the central banks, other banks and financial institutions and general public in Nepal and Bhutan under existing provisions,” External Affairs Ministry spokesperson Vikas Swarup said in his weekly media briefing here.

“The matter has been raised by the governments of both Nepal and Bhutan as well. The (Indian) government is considering the matter and the RBI will remain in touch with their counterparts in Nepal and Bhutan,” he said.

According to the spokesperson, the inter-ministerial task force formed by the government is also looking into issues relating to foreign nationals and tourists in India, expatriate Indians holding old series high denomination notes, and the diplomatic missions based in India.

“Consultations are ongoing and as soon as we have concrete recommendations from the task force, we will share with all stakeholders,” Swarup said.