Nepal bans new Indian ₹2,000 and ₹500 notes
The central bank of Nepal on Thursday banned the use and exchange of India's new ₹500 and ₹2,000 notes. The new notes are "illegal" and cannot be exchanged until the RBI issues a notification under the Foreign Exchange Management Act, the bank said. Notably, Indian currency is widely accepted in Nepal, where people have been facing problems exchanging old notes.