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of <h1>Nepal Bans Possession of Rs. 500 Indian Currency Notes; Violators Face Confiscation and Up to 3 Years Imprisonment.</h1> The Government of Nepal has prohibited the possession of Rs. 500 denomination Indian currency notes under the Foreign Exchange (Regulation) Act, 2019 (BS) (1962), as stated in a Gazette Notification dated June 26, 2000. These notes are non-exchangeable and cannot be taken into or out of Nepal. Violators face confiscation of the notes and up to three years imprisonment. To prevent inconvenience for Indian nationals visiting Nepal, authorities are urged to publicize these restrictions and display notices at airports and land customs stations to inform travelers of the legal implications.
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