Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: In a significant shift from tradition, Nepal Rastra Bank (NRB) has announced that it will not be issuing new banknotes for this year’s Dashain festival. Instead, the central bank will be providing only clean, circulated notes as part of its cost management strategy.
This decision marks a departure from the usual practice where NRB distributes fresh notes of denominations 5, 10, 20, 50, and 100 during the Dashain-Tihar festival season. The move is part of the bank’s broader effort to reduce expenses associated with printing new currency, which has been a considerable financial burden. Over the past five years, NRB has spent an average of Rs 1.3 billion annually on printing new banknotes.
NRB officials have indicated that this change also aligns with their initiative to promote digital transactions across the country. With the growing adoption of digital payment platforms, the bank aims to encourage citizens to reduce reliance on cash, thereby supporting a more modern and efficient financial ecosystem.
The decision to provide clean notes instead of new ones is expected to have a mixed reception among the public, particularly during the festive season when new currency is traditionally exchanged as part of cultural practices. However, NRB believes that the move will contribute positively to the national economy by lowering operational costs and promoting sustainable financial practices.
As the country prepares for the upcoming Dashain festival, NRB’s decision reflects a shift towards more cost-effective and forward-looking financial strategies. The bank’s emphasis on clean notes and digital transactions is part of a larger vision to modernize Nepal’s banking system while preserving essential services during one of the most important cultural celebrations.
This initiative is also seen as a step towards long-term financial sustainability, as NRB continues to explore ways to balance tradition with the evolving needs of the national economy.
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