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Nepal’s Central Bank Announces Ban of Indian Notes Above Rs 100

Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal

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Indian Currency. Pixabay

Nepal’s central bank has announced the ban of Indian currency notes with denominations above Rs 100.

The Nepal Rastra Bank (NRB) on Sunday issued a circular for the institutions licensed by it notifying them about the ban, reports Xinhua news agency.

Authorised to Issue Currency Notes.
Rs. 2000 note was issued by RBI who maynot ahve been Authorised to Issue Currency Notes. Wikimedia.

Nepal’s cabinet in December had decided to ban the use of these currency notes.

The decision to ban these notes has come a time when the NRB has requested the Reserve Bank of India (RBI) arequesting the latter to allow Nepal to use currency notes with all denominations.

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Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal. (IANS)

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India Post Partners TCS to Modernize its Services

It supports the HR needs of over 500,000 employees, services over 40,000 concurrent users and processes over three million postal transactions a day

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The cyber security lab was inaugurated at the Shanmugha Arts, Science, Technology and Research Academy. IANS

India Post has partnered with IT services firm Tata Consultancy Services (TCS) to become a multi-service digital hub, modernize the delivery of mail and packages, enhance customer experience and launch innovative services.

TCS on Monday said it has implemented its Point of Sale (PoS) solution across 24,000 post offices with over 80,000 PoS terminals, making this among the largest such implementations in the world.

Additionally, it has built a web portal with consignment tracking capabilities and set up a multi-lingual call centre for customer support, the company added.

To enable India Post to benefit from the burgeoning e-commerce opportunity, while fulfilling a vital social obligation, the web portal has an e-marketplace to help rural artisans, self-help groups and women entrepreneurs reach out to buyers throughout the country.

“In a digital era, postal services across the world are reinventing themselves to stay relevant to a new generation,” Debashis Ghosh, Business Group Head – Public Services, TCS, said in a statement.

Tata Consultancy Services, Vadapalani
Tata Consultancy Services, Vadapalani. (Wikimedia Commons)

“We are proud to have partnered with the Department of Posts in this pioneering, mission mode initiative to build a world class, future-ready digital platform that the nation can be proud of,” Ghosh added.

At the heart of this transformation is the Core System Integration (CSI) programme designed and implemented by TCS, the company said.

Also Read- Facebook Urges US Police to Stop Using Fake Accounts

This involved deploying an integrated Enterprise resource planning (ERP) solution that caters to mail operations, finance and accounting, and HR functions, and connects its vast network of more than 150,000 post offices.

It supports the HR needs of over 500,000 employees, services over 40,000 concurrent users and processes over three million postal transactions a day, TCS said. (IANS)