Banknotes likely to be in short supply after Dashain

Acting Governor of Nepal Rastra Bank (NRB) on Monday said if the absence of the Governor, who signs banknotes, draws out for a longtime, the banknotes would be in short supply after Dashain (October 21).

Talking to the Finance Committee of the legislative parliament on Monday, Acting NRB Governor Krishna Bahadur Manandhar said that the exiting stock of banknotes will sustain the demand until Dashain, the most extravagant festival in Nepal.

He also said that the printing of banknotes was a time consuming process so timely steps should be taken to wad of the possible crisis.

Following the suspension of Governor Bijay Nath Bhattarai, Manandhar was appointed Acting Governor of the NRB on July 2.

Bhattarai was suspended after the Commission for Investigation of Abuse of Authority (CIAA) filed a case against him on June 29. He has been released on a bail Rs. 250,000.