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Posted at: Jan 12, 2019, 6:46 AM; last updated: Jan 12, 2019, 12:18 PM (IST)

Make sure there’s no DeMo-like crisis again, urges Nepal

Make sure there’s no DeMo-like crisis again, urges Nepal
Photo for representational purpose only.

Smita Sharma
Tribune News Service
New Delhi, January 11

Nepal sought an assurance from India that if another round of demonetisation happens, Indian currency in circulation in the Himalayan nation won’t be stopped from exchanges.

This is a key apprehension stemming from recent reports that India would stop printing the new Rs 2,000 notes. Nepal stopped use of the new Indian Rs 200, Rs 500 and Rs 2,000 notes in December 2018. Nepalese Foreign Minister Pradeep Gyawali raised the issue during his meeting with External Affairs Minister Sushma Swaraj on Thursday. “We are telling Indian banks that in future there should be no problems. We want an assurance from the Indian side,” Gyawali said today.

Nepal faced a crisis with note ban announced in 2016, as Rs 7crore in old Indian currency in its banking system and an unaccounted sum in individual possession are yet to be exchanged.

Gyawali also batted for revival of the SAARC Summit to be hosted by Islamabad which was derailed following the India-led boycott in 2016 in wake of the Uri terror strikes. Nepal is the current Chair of SAARC and has been advocating regional dialogue.

“There are problems for which the summit was postponed. But there is no alternative except sitting together and mitigating the differences. Problems we are facing now cannot be addressed alone. Terrorism cannot be fought alone. Poverty cannot be tackled single handedly,” Gyawali said.

He cited US reach out to North Korea. “We need broader regional cooperation. We are requesting all members to sit together and talk. If Trump and Kim can sit together in Singapore to resolve differences, why not us? In every forum we talk about it,” the minister added.


Honorary rank for Army Chief

  • Nepal Army Chief General Purna Chandra Thapa will be conferred with the honorary rank of ‘General of Indian Army’ by President Ram Nath Kovind on Saturday
  • Gen Thapa begins his four-day India visit on Saturday during which he will hold talks with top brass of the Indian Army with an aim to further expand bilateral military cooperation pti

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