Currency in Nepal to drop king's face

One of the last visible signs of Nepal's former monarchy, currency notes carrying portraits of ex-kings, will soon go out of circulation. Utpal Parashar reports.

Updated on: Aug 19, 2010, 02:39:05 IST

Hindustan Times | By Utpal Parashar, Kathmandu

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One of the last visible signs of Nepal's former monarchy, currency notes carrying portraits of ex-kings, will soon go out of circulation.

Nepal's central bank has issued directions to banks and financial institutions not to accept such notes from mid April next year, when the new Nepali year begins.

"Old notes carrying the king's portrait won't be accepted by financial institutions from next year," Nepal Rastra Bank official was quoted as saying.

NRB has asked banks and other such institutions to gradually reduce exchange of notes carrying portraits of the former kings before the April 2011 deadline. Due to peoples' reverence for the Shah dynasty, such notes are still widely accepted and circulated in Nepal as they carry portraits of former kings.

Since 1945, currency notes in Nepal carried portraits of the ruling monarch. The practice was stopped in 2007 during the last stage of King Gyanendra's reign when it was replaced by Mount Everest.

ABOUT THE AUTHOR
Utpal Parashar
A seasoned senior journalist, I have nearly three decades of experience across print, digital, and online platforms, covering political transitions, insurgencies, environmental issues, and development stories in India and Nepal. I am skilled in breaking news, leading editorial teams and launch of newspaper editions. I am adept at leveraging digital trends and social media to expand global reach, with a strong ethical foundation and a reputation for impactful journalism. An alumnus of Asian College of Journalism, I joined Hindustan Times in New Delhi as a trainee reporter in May 1997. Over the years, I have been posted in Dehradun, Kathmandu (Nepal) and Guwahati. Currently, as Senior Assistant Editor at Hindustan Times, I lead a team reporting on India’s northeastern states. My work involves in-depth analysis, and engaging multimedia storytelling across formats, including text, photo, video, and interactive content. I am skilled in producing timely, shareable content, leveraging digital platforms and social media to engage global audiences. Throughout my career with the Hindustan Times, I have led diverse editorial teams, designed capacity-building activities, and supported reporters in developing strong story ideas, ethical reporting practices, digital skills, and fact-checking techniques. As Senior Assistant Editor for Northeast India, I have been responsible for guiding correspondents through complex political, humanitarian, and community-level stories using multimedia formats. Earlier, as Foreign Correspondent in Nepal, I produced extensive reporting during Nepal’s democratic transition and the 2015 earthquake and its aftermath.Read More

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