Nepal Rastra Bank has chosen a Chinese company to print new Rs 50 banknotes. The central bank made this decision through a bidding process.
The selected company is China Banknote Printing and Minting Corporation. It will design and print a total of 42 crore pieces of Rs 50 notes.
According to the agreement, Nepal Rastra Bank will pay around Rs 1.47 billion to the Chinese company for the entire printing project.
Why China?
The central bank said the company was chosen because it offered the lowest printing cost compared to other bidders.
Once the printing is complete, the new Rs 50 notes will gradually enter circulation and replace the older ones currently in use.
