India gets a foreign policy blow from neighbouring Nepal
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KHATMANDU - India gets a foreign policy blow from the neighbouring nation Nepal.
In a move that may severely impact diplomatic ties, tourism and trade, the Government of Nepal banned the use of high denomination Indian currency notes, namely of Rs 200, Rs 500, and Rs 2000.
The decision was taken in a cabinet meeting on Monday, following which a notice was issued asking the Nepalese citizens not to keep or transact in these banknotes.
The Nepal government's decision to ban all new Indian currency notes above Rs 100 is threatening to set in a frigid winter in the relations between the two countries.
The cabinet decision comes in the wake of the Indian government sitting on a request to exchange old currency notes worth Rs 950 crore (which were rendered obsolete after demonetization) that still remains with Nepal citizens.
