KATHMANDU: Nepal Rastra Bank has warned the public not to use or trade Indian 500 and 1,000 rupee notes that were in circulation before India’s demonetization.

In a notice issued on Tuesday, the central bank clarified that holding, selling, or transferring these notes is completely prohibited.

On November 9, 2016, India had announced demonetization, invalidating the old 500 and 1,000 rupee notes.

The bank also emphasized that Nepali citizens are not allowed to bring these notes from any country other than India.

Furthermore, no Nepali or foreign citizen is permitted to bring more than USD 5,000 (or equivalent foreign currency) into Nepal without declaring it to customs.

If a person needs to bring in an amount exceeding this limit, the bank reminded that it must be declared and certified at customs.