Forgot your password?
Central Bank Responsible for Shortage of Banknotes
BY KTM Metro Reporter in Kathmandu
On September 23, 2009, speaking at the program on exchanging the Dashain congratulations held by the Ministry of Finance for the large taxpayers, Finance Minister Surendra Pandey has charged the Central Bank called Nepal Rastra Bank of causing the shortage of banknotes even during the great Hindu Dashain festival because the Central Bank has been printing banknotes only in small quantities; he has said that he has not been able to understand why the officials of the Central Bank have done so; the officials of the Central bank often go to foreign countries in the name of printing banknotes but the result is the shortage of banknotes; the government will not let go free the corrupt staffs of the Central Bank according to the state-run newspaper ‘Gorkhapatra’ of September 24, 2009.
On September 24, 2009, speaking to the newsreader of the 7:00 morning news of the state-run Radio Nepal, the Deputy Governor of Central Bank has said that this time the banknote printer has delayed in printing and delivering banknotes for two months so the shortage of banknotes has been; the bank is bringing in circulation of the previously rejected banknotes for circulation for mitigating the shortage of banknotes.
The Commission on Investigation Into Abuse of Authority (CIAA) has charged Current Governor Bijayanath Bhattarai of corruption, and the Special Court has convicted him of the corruption but a few months ago the Supreme Court of Nepal has acquitted him of the charge, and the Madhav Government has reinstated him in the position of the Governor of the Central Bank again. The result is the shortage of banknotes.
Note: The Ministry of Finance has defined anybody paying income tax and value added tax of more than Rs 250 millions per year a large taxpayer.
