The Nepalese information and communications ministry said Indian currency notes higher than Rs 100 were illegal in the country.
Kathmandu: The Nepal government has banned the use...
Finance ministry says the proposed revamp will focus on structural reforms, rate rationalisation & ease of living, & will be deliberated upon in the coming weeks.
The project is meant to be a ‘protective shield that will keep expanding’, the PM said. It is on the lines of the ‘Golden Dome’ announced by Trump, it is learnt.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
An unfortunate development. When a foreigner uses our currency, the benefit of seigniorage accrues to the RBI and India. It also reflects a bond of friendship and solidarity, like the open border. Immediately after December 2016, we ought to have made special arrangements for Indian currency held by Nepali citizens to be redeemed. The amount was trivial in relation to the total stock of fifteen trillion, however it mattered to the Nepalese. It is only a matter Ipoh time before they start using Chinese currency.
An unfortunate development. When a foreigner uses our currency, the benefit of seigniorage accrues to the RBI and India. It also reflects a bond of friendship and solidarity, like the open border. Immediately after December 2016, we ought to have made special arrangements for Indian currency held by Nepali citizens to be redeemed. The amount was trivial in relation to the total stock of fifteen trillion, however it mattered to the Nepalese. It is only a matter Ipoh time before they start using Chinese currency.