CENTRAL BANK RESCINDS DECISION TO WITHDRAW ON CURENCY NOTES WITH KING PORTRAITS

NRB RESCINDS DECISION TO WITHDRAW CURRENCY WITH KINGS’ PORTRAITS

By Bhola B Rana

Kathmandu, 16 March: Nepal Rashtra Bank (NRB), the central bank, Wednesday confirmed rsscinding an earlier decision to ordering commercial banks and financial institutions not to deal in currency notes with portraits of kings.
The decision has seriously eroded the credibility of the institution which isn’t independent.
Governor Dr Yubaraj Khatiwada is a UML appointee like Finance Minister Bharat Mohan Adhikari and his predecessor who appointed the incumbent central bank chief.
The central bank, without demonetizing such currency notes, ordered banks and financial institutions Monday not to deal in noted with kings’ portraits.
The decision created panic Tuesday as people rushed nation-wide to NRB outlets to convert the currency notes.
The central bank couldn’t cope.
NRB has politicized an entirely administrative monetary policy
and under heavy public pressure Wednesday finally issued a notice
explaining paper currency with portraits of kings will be acceptable.
The bank asked designated commercial banks Tuesday to continue to deal with old notes replaced with watermarks of Mount Everest without confirming it has changed its policy.
The bank accepted Wednesday its original decision has been changed.
NRB was drawn into a political exercise to implement a decision of
parties to declare a republic which won’t be institutionalized even by 28 May.
The deadline to promulgate a republican constitution is unlikely to meet the second deadline.
It will take the NRB a long to time to recover its lost credibility
by attempting to push a political and amateurish decision.
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MADESHBADI LEADERS INDIA BOUND (UPDATE)

Kathmandu, 16 March:: Three Madeshbadi leaders accompanied by othrs Wednesday confirmed they were collectively flying to New Delhi
on Indian government invite.
MJF Chairman Bijaya Gachedhar said the invitation is a ‘formal
Recognition’ of terai parties by India and will benefit all.
TMLP Chairman Mahanta Thakur said the visit is a goodwill visit.
NSP Chairman Rajendra Mahoto also was invited by India.
The leaders parried probing questions of reporters.
The team returns home Sunday.
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PRACHANDA LEAVES ON SUDDEN UNANNOUNCED
SINGAPORE VISIT

Kathmandu, 16 March: Maoist Chairman Prachanda flew for Singapore for a sudden unannounced visit Wednesday afternoon.
He’s expected to return Friday,
Radio Nepal said he was attending a meeting sponsored by Asia Paific Foundation.
The Maoist chief held discussions with retired Indian Prof. SD Muni currently attacked with Singapore when he met ailing Girija Prasad
Koirala undergoing treatment at a hospital in the city ctate.
Dying Koirala and Prachanda negotiated a political deal which fell through.
Muni is a government of India point man who was deeply involved
in Indian attempts to push a republic in Nepal.
It wasn’t known if Prachanda will hold discussions with Muni.
In leaks of secret communications by Wikileaks between US embassy in Kathmandu and State Department, then US Ambassador James
Moriarty reported to Washington New Delhi rejected a Prachanda request to visit India for talks.
Most recently, India is pushing what has been called a
‘democratic front’ against an emerging majority communist
government of UML and Maoists.
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SARITA GIRI CALLS FOR GOVT. PROVBE INTO DEATH OF ANANDA DEVI

Kathmandu, 16 March: Satrita Giri of NSP Wednesday called for an independent and high-level inquiry into the death of the party
patron Ananda Devi , widow of Gajendra Naayaray Singh, the organization’s founder.
She claimed the death wasn’t natural and Devi hadn’t eated food for five days before her death this week.
Issueless, she was living with her nephew.
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CHIRANJIBI WAGLE SENTENCED

Kathmandu, 16 March: A division bench of the supreme court
Wednesday confirmed a decision of a special spurt sentencing Chiranjibi
Wagle to 18 month jail term with a Rs. 23 million fine for amassing unaccounted wealth.
Wagle is a former minister and NC leader.
The charge was filed by CIAA.
The supreme court ordered the confiscation of his assets.
The decision is final.
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RUBEL CHAUDHARY TOLD TO APPEAR IN CHITWAN IN ONE WEEK (AN UPDATE)

Kathmandu, 16 March: Chitwan district court Wednesday asked Bangladesh national and son-in-law of Sujata Koiala to present himself at the office in one week to probe his complaint former Crown Prince Paras Shah attempted to shoot him at the renowned jungle lodge Tiger Tops last December.
Paras was asked to appear before the district administration 5 April; he wasn’t present there Wednesday.
He was released after the complain on a surety of Rs 10,000.
Chaudhary deposed with police in the comfort on his
mother-in-law’s home in the capital while Paras was arrested
and presented at Chitwan.
Paras was represented by his lawyer.
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