Note shortage ends: Nepali Bankers

Nepal Bankers´ Association (NBA), the apex body of Nepal´s 26 commercial banks, has announced that the nearly month-long shortage of notes has come to an end after the central bank received a huge supply of fresh notes.

A press statement issued by the association on Friday said that the supply of bank notes was back to normal. As the net inflows of notes to the bank have increased remarkably after the end of Dashian along with injection of fresh notes, there is shortage of notes in the market, said the statement. The statement has further said that the depositors, who were unable to take enough cash out from the banks as per their need due to shortage of notes, can withdraw as much money as they wish either from banks or from Automated Teller Machines (ATMs) now.

Earlier, the Nepal Rastra Bank, which has been using its means to deal with the historic shortage of bank notes, received a huge consignment of 500-rupee notes worth Rs 15.5 billion on Thursday, ending shortage of notes in the country. The notes printed by a French note printer Oberthur Technologies were received with a delay of over two months. The central bank will also receive a fresh consignment of 1000-rupee notes printed by an Indonesian note printer by the end of 2009. The NRB even had to bring 940,000 units of 1000-rupee stored notes carrying image of former King Gyanendra into circulation to deal with the shortage.
Source:Republica