Kathmandu. Nepal Rastra Bank has directed the banks and financial institutions to make arrangements to distribute Rs 100 denomination notes through ATMs. Nepal Rastra Bank has directed banks and financial institutions to make arrangements to distribute Rs 100 notes through ATMs in view of the Dashain and Tihar festivals.
Nepal Bank’s Currency Management Department has written to Nepal Bankers’ Association, Development Bankers’ Association and Nepal Finance Company Association to make arrangements for distributing Rs 100 notes through ATMs of subordinate banks and financial institutions.
According to Sudha Shah, assistant spokesperson of the Nepal Rastra Bank, the provision has been made to reduce the crowd at the bank branches and counters for the exchange of small denomination notes during the festive season.
Earlier, ATMs of most banks used to dispense only Rs 500 and Rs 1,000 notes. According to the NRB, after the Rs 100 notes are made available from ATMs, customers needing small denomination notes will be less compelled to queue up at the counter.
This arrangement has been made to make it easier for the general public as the festive season is approaching. Especially during the time like Dashain and Tihar, the need for small money is more, so the ATM will be able to withdraw Rs. 100 notes.
