Demonetisation worries people at Indo-Nepal border

he demonetisation move has affected people in the Indo-Nepal border areas as most of them are facing problems in exchanging their Indian currency of Rs 500 and Rs 1,000 denomination.

Prime Minister Narendra Modi’s decision to demonetise Rs 500 and Rs 1,000 currency notes has been a cause of worry for most of the households in far-western regions of Nepal as youths from the hills head to India to work and possess the demonetised currency notes, The Himalayan Times reported.

Tej Bahadur Singh from Bajura district of Nepal has Rs 50,000 in the 500 and 1000 denominations. “This is the saving of my son who works as a guard in India. He has been saving money to buy a land, but ever since I’ve heard that these notes aren’t accepted anymore, I am very worried,” he said.

According to Tek Bahadur Shahi from Barhabisa, up to Rs 4 million in demonetised notes have been estimated from a village in the city. “There are around 135 houses in the village and they have up to four million rupees in 500 and 1000 rupee currency notes,” he said.

The demonetisation has affected all nine districts of the border region and five districts in Karnali.