Kathmandu. Banknotes of Rs 50 and Rs 100 denominations cannot be withdrawn from banks’ ATMs in Nepal. Only Rs 500 and Rs 1,000 notes can be withdrawn from ATMs. Sometimes, not even Rs 500 notes are not released.
Many years ago, rs 100 notes could be withdrawn from bank ATMs. However, rs 50 notes could not be withdrawn from ATMs.
The Reserve Bank of India (RBI) on Monday directed banks to make arrangements for withdrawal of Rs 100 and Rs 200 notes from ATMs. Currently, notes above Rs 500 can be withdrawn from ATMs in India.
In Nepal too, it would be easier for the general public if at least Rs 100 notes can be withdrawn from ATMs. For example, if a person has only Rs 450 in his bank account. If he needs money immediately, it is not possible to withdraw money from the ATM. You have to go to the bank and take out the check.
Deepak Regmi, head of the card department of Nepal Bank, said that there is no specify from anywhere the range of money can be withdrawn from the ATM. “Only high-value notes have been kept as rs 100 notes have a lot of space to store at ATMs,” he said.
Regmi said that some banks had made arrangements for withdrawal of Rs 100 notes from ATMs. “However, in the last few years, everyone has made arrangements to withdraw only Rs 500 and Rs 1,000 notes from ATMs,” he said.
Regmi said that discussions would be held in the bank regarding keeping rs 100 notes in ATMs. “I will talk to the management team about this,” he said, “because it will be easier for the general public if the rs 100 notes are allowed to come out of the ATM.” ’
Nepal Rastra Bank (NRB) spokesperson Ramu Poudel said there was no provision to allow withdrawal of Rs 50 and Rs 100 from ATMs. “It has not been disclosed that only the same notes can be withdrawn from ATMs,” he said.
Spokesperson Poudel said that the bank may not have kept rs 50 and Rs 100 notes as it consumes a lot of space at ATMs. “Banks may be thinking that this will increase the cost,” he said, adding that the general public should be able to withdraw small denomination notes from ATMs. We will discuss this issue with the Rastra Bank. ’
