Economy
IC worth NRs 19 billion withdrawn through ATMs in five months
Published by Octron on March 3, 2011
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Indian Currency (IC) worth more than NRs 19 billion was withdrawn from accounts in Nepali banks through various ATMs in India in the first five months of the current fiscal year, Nagarik daily reported quoting Nepal Rastra Bank officials.
The amount is more than four times withdrawn the same way in the first five months of the previous fiscal year.
The amount withdrawn in IC significantly rose this year as NRB adopted strict measures on exchanging NC with IC. The rise is despite NRB’s ceiling of IRs 25,000 in withdrawing money deposited in Nepali banks’ accounts through ATMs in India.
NRB officials are mulling to bring down the ceiling to IRs 10,000 following the steep rise in flow of IC through the ATMs.
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