The Reserve Bank of India has authorized the circulation of Indian notes above INR 100 in Nepal and Bhutan, reversing the restrictions imposed during India’s 2016 demonetization. A Gazette notification states that travelers between the two countries may now carry up to INR 25,000 in cash, including higher denomination notes. Nepal Rastra Bank will issue a formal directive to implement the decision but confirmed that demonetized notes from 2016 will remain invalid.
