KATHMANDU: The Nepal Rastra Bank (NRB) has entrusted a Chinese company with the task of printing new 100-rupee notes that will feature the “Chuchche” (revised) map.
This marks the first time that notes will bear the newly recognized map following the recent constitutional amendments.
It should be noted that the Council of Ministers granted approval for the design change of the 100-rupee note.
On May 20, 2020, Nepal issued a new map incorporating Limpiyadhura, Lipulek, and Kalapani through a constitutional amendment.
Since the map is now printed on the 100-rupee note, it was necessary to update the design accordingly.
According to the Nepal Rastra Bank Act, the Nepal Rastra Bank is responsible for designing the notes.
However, any changes to the design and size of the notes require government approval.
The Cabinet of Ministers has already approved the design change to include the revised map.
The Chinese company has now been tasked with redesigning and printing the new 100-rupee notes featuring the revised map.
The Nepal Rastra Bank stated that the China Bank Note Printing and Minting Corporation has won the tender for this project.
After the company secured the contract through a global tender, a letter of intent was requested from them.
The NRB has asked the company to design, print, supply, and deliver 300 million 100-rupee notes.
The total printing cost is estimated at approximately 8,996,592 US dollars. At the current exchange rate, this amounts to roughly over Rs 1.2 billion, making the cost of printing each 100-rupee note approximately 4 rupees and 4 paisa.
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