Where and how does Nepali note are published?
Notes of currency and coin of Nepal have been printed in the outside countries and coin printing company. To print coin and note, different types of companies outside the country are given the responsibility still. There are approximately 20 money printing companies in the world.
In 2002 B. S. Nepal Paper money printing has begun. In the context of King Tribhuwan, paper notes have begun in Nepal. After Nepal started the trend of note, money was printed in the country like England, Holland Australia.
Nepal printed notes for many years at the Delaru currency of the UK. There were some polymer or plastic notes introduced in the Nepalese market. These notes were printed by Printing Australia which comes under the Reserve Bank of Australia.
Our neighboring country India also has a money printing company. During the time of governor Yuvraj Khatiwada, the Nepalese currency printing responsibility was given to the Indian company.
However, the quality of the paper was worse due to which the notes were damaged easily. So printing in India was then terminated.
Nepal has printed the coin in China. The National Bank has coincided with the manufacturing of coins in China and South Korea’s company. The printing company needs to have a minting facility for printing coins.
According to experts, the country has to invest more than one rupee to print coin of one rupee available in Nepal. Printing of larger notes cost more than the printing of smaller notes. Because high-security features are to be included in the higher notes, so the expenses are higher.
Nepal Rastra Bank is currently told to print the notes from these companies. However, it calls the Global Tender once before printing a note.
In this, almost 20 companies in the world have given applications. However, Nepal National Bank has included only 10 of these companies in the list of pre-qualifications as one of them gets the responsibility.
Before deciding which company to be given the responsibility to print a note. The National Bank will look at the technical and financial reports of those companies in the pre-qualification, and choose a company. While financing, less cost-effective companies are given more priority.
Thus the printed notes are kept by the National Bank at the Department of Currency Department’s Stores Room. However, the note is not recognized unless the National Bank adopts the prefix number of the printed note.
Nepal Rastra Bank has terminated to print one and two rupee notes along with coins
Due to the increase in market prices, the existence of retail money has disappeared gradually. The Nepal Rastra bank has also ceased to print the small number of notes because nothing can be bought in the market with 1,2 rupee notes and coins.
The 25 and 50 Paisa coins are not visible in the market. The one and two rupee notes are now on the way of becoming the antique notes to be on the museum. The one and two rupee coins which were available in the market are not manufactured nowadays.
The tourists who come to visit Nepal want to take the coins as the souvenir of Nepal. But it’s a rarity that any retail shop or cafe or transport give you your return change in one or two rupees. Instead, you’ll be given one or two rupee worth candies as a change.
However, there are places where you can buy these notes like in Maru or Thamel of Kathmandu. There are people selling these notes and coins.
Safety of Nepalese notes
The usage of paper notes in the past has increased because the paper notes have made our life easier and convenient. However, the age of these paper notes is decreasing day by day.
It has also affected the economy of the country. Citizens worship notes as a property and symbol of goddess Laxmi. In most of our festivals, we have a tradition of using, worshipping the money be it Hindu, Muslim or Christian. All offer notes, donations as beneficial work. However, we do not focus on how to carry it, how to transmit it.
These paper notes are our national property. But people just carry the notes in a haphazard way. Some just fold it carelessly and put them in the purse. Old people just fold the notes and put in the breast or pocket making it dirty. The cooperatives and finance institution stitch the notes in a careless way which enhance the risk of tearing up. of the notes.
Unless we change such behavior, the damage to the note is further added. Have we ever considered how much a note would cost to print? When the notes are no more usable they are destroyed. Destroying means by burning. Burning note cause pollution due to the use of various chemicals used in printing the notes.
The bundle of cash that we extract from the cooperatives and banks has many tags printed or impressed. There are so many stitches that it takes about half an hour to 45 minutes to remove those stitches.
If the institution which should be concerned about the safety and maintenance of these notes are so careless. How can a simple person be expected to keep the notes safely?
The Nepal National Bank regularly issued a decree to protect these notes. Increasing consciousness through advertisement also cost a lot. All this money comes from the tax that we pay. But, has the government done any such action so far to such financial institutions who make numerous holes in the notes and damage them.
According to international standards, paper notes are usually used for 4 years. However, in Nepal, such notes will not be able to work in 1 year. So for the safety and long duration usage of the notes, in 2058 B. S., Polymer notes of RS. 10 was brought in the market.
It had the image of King Gyanendra. But again the case was the same. Because of our careless usage and storage of the notes and also due to the weak printing of these notes by the government. These notes were also damaged very soon.
Note that it is national property. It is not possible only by a person’s effort. Nepalese notes can be saved only by the active participation of the public, the financial entrepreneurship and the government itself.
The government must monitor the person and the organization using the wrong notes. This is one of the best ways to protect our national property from the loss in the coming days.
The Government of Nepal has passed a new law to keep the notes safe for a long time. Which was effective from August 18th, 2018. Under this law, there may be a jail sentence of three months for writing something on the note, tearing it, burning or drawing on it, etc. Also, a fine of five thousand rupees can also be imposed.
Author: Ankur Pradhan