Kathmandu. There is a provision to exchange fake bank notes. According to the provisions of the Nepal Rastra Bank Note Substitute Recruitment Regulations, 2059, the recruitment can be sought.
Issuing a notice for financial awareness today, the central bank has informed about the recruitment of fake bank notes. However, fake notes that are contrary to the criteria prescribed in the rules cannot be filled in lieu.
According to the regulations, there is no provision for recruitment in place of banknotes that have been erased, torn, mutilated or have no more than 50 percent share.
According to the rules, if the banknote held by someone is not in circulation for fire, insect eating, tearing, water VG or any other reason, then new and dry notes can be sought instead of such notes. In such practice, instead of the ineligible notes, a claim should be submitted to the Rastra Bank for the claim of recruitment.
The central bank has made provision that the recommendation of the local level or police office will be required for recruitment in place of notes in case of fire or divine disaster.
Rastra Bank has also suggested to preserve the notes and make claims at the time of fake notes.
