NRB issues directive not to use Rs 500 and Rs 1000 Indian currency notes

<p>&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp; Nepal Rastra Bank (NRB) has issued directive to the concerned banks, financial institutions and money transfer companies not to use Indian Currency (IC) Rs 500 and Rs 1000 notes effective immediately. <br><br>The NRB issued the directive after the announcement of the Indian Prime Minister Narendra Modi in his televised address to the nation last evening about the demonetization of Rs 500 and 1000 currency notes with effect from midnight.<br><br>The notes of IC Rs 500 and Rs 1000 denomination that will no longer be legal tender in India is bound to directly impact currency market in Nepal, the economic experts argue.<br><br><br></p>