Nepali national held for carrying banned Indian currency notes

Nepal bans use of Indian currency notes of Rs 1,000 and Rs 500 denominations.

Last Updated: Feb 21, 2011, 14:27 PM IST

Kathmandu: A Nepali national has been arrested for carrying banned Indian currency notes worth Rs 3 lakh.

Tilak Adhikari, 28, was arrested during a security check at Nagdhunga while he was returning to the country from Bodhgaya in India on a passenger bus, Kathmandu Metropolitan Police Circle said.

Tilak, a resident of Jhapa district in eastern Nepal, was carrying Rs 1,96,000 Indian currency notes of Rs 1,000 denominations and Rs 1,04,000 of Rs 500 denominations, both of which are banned in Nepal.

Though lower denominations Indian currency notes are accepted in Nepal, the government has banned the use of Indian currency notes of Rs 1,000 and Rs 500 denominations following the Reserve Bank of India guidelines.

The step was taken to check smuggling and pushing of counterfeit Indian currency into India.

PTI