Jul 04, Kathmandu - Deputy Prime Minister and Finance Minister Bishnu Poudel announced new provisions regarding currency import regulations for visitors entering Nepal from India. During the Finance Committee meeting of the House of Representatives held at Singha Durbar, Poudel stated that travelers from India can now bring in an amount equivalent to five thousand US dollars without the need to declare it at customs.
He further explained that individuals wishing to carry more than this amount can declare and bring Indian currency up to six hundred thousand rupees. Additionally, arrangements have been made to facilitate payments through QR codes and card transactions up to specified limits, enhancing convenience for tourists.
Poudel also addressed concerns regarding the acceptance of Indian currency, noting that Indian five-hundred-rupee notes are no longer accepted in Nepal to prevent future exchange issues. Measures have been implemented to avoid unnecessary checks at customs points once vehicles pass through inspection.
In the context of banking and financial regulations, Poudel mentioned that the government is working on legislation to resolve ongoing problems in the financial sector. He expressed concern over proposals to legalize black money by paying taxes, warning that such measures could complicate Nepal’s efforts to exit the grey list maintained by international bodies.