KATHMANDU: Nepal Rastra Bank (NRB) has decided to provide exchange facilities for INR 200 and INR 500 banknotes following discussions with the Reserve Bank of India (RBI).

The move comes as the use of the denominations has increased, particularly after the government allowed individuals to carry up to INR 25,000 in INR 200 and INR 500 notes from mid-November.

Under existing rules, Nepali and Indian citizens may carry, exchange, or transport up to INR 25,000 in these banknotes issued after November 9, 2016. NRB said the ban on old INR 1,000 and INR 2,000 banknotes remains in force.