Nepal imposed a monthly limit on the amount of Indian currency its citizen can spend in India. A spokesperson of the Nepal Rastra Bank (NRB) stated that a Nepali citizen would be unable to spend more than INR 1 lakh per month while paying for goods and services in India.
The decision was taken to address the country’s current account deficit. The policy applicable to prepaid, credit and debit cards of Nepali banks came into effect.
Source: The Hindu
Static/Current Takeaways Important For IBPS Clerk Mains Exam 2018:
- Nepal Capital: Kathmandu, Currency: Nepalese rupee.