India Objection On Nepal Currency: Recently Nepal has decided to redesign its Rs 100 note. However, this decision has created tension between Nepal and India. This is because the map of the country printed on Nepalese currency notes includes disputed areas of the border between neighboring countries.
China has an indirect role in increasing the political and strategic differences between Nepal and India. Nepal has signed a contract with a Chinese printing company to print these new currency notes. Nepal’s central bank, Nepal Rastra Bank (NRB), has awarded a contract to China Banknote Printing and Minting Corporation to design, print and distribute 300 million copies of the redesigned Rs 100 bank note.
Why did India object?
Its printing cost has been estimated to be around 8.99 million US dollars. According to this, an average of Rs 4.04 will be spent per note. This currency note will have a revised political map of Nepal, which includes the disputed areas of Lipulekh, Limpiyadhura and Kalapani.
Commenting on the government’s stance regarding the printing of these currency notes, Nepal’s Communications Minister Rekha Sharma said, “The government has authorized Nepal Rastra Bank to replace the existing map on the currency notes with the updated version.” This decision was taken in May this year during the tenure of Pushp Kamal Dahal government. After this, formal tender process was adopted and letter of intent was issued by NRB.
What is India-Nepal border dispute?
The Nepal-India border dispute has been going on since the Treaty of Sugauli was signed between Nepal and British-ruled India after the Anglo-Nepalese War in 1816. According to this treaty, the Kali River was designated as the natural western boundary of Nepal, the east of which included Lipulekh, Limpiyadhura and Kalapani, which belonged to Nepal.
Despite this, these areas have been under the administrative control of India since the 1960s. Tension over this territorial issue increased in November 2019 when India released a new political map that included these disputed areas within its borders. Nepal responded by publishing its revised political map in May 2020, in which these areas were declared Nepal’s.
India criticized Nepal
Criticizing Nepal’s unilateral action, External Affairs Minister S Jaishankar said, “Our position is very clear. With Nepal we are discussing our border matters through an established forum. Meanwhile, on his part, he has criticized some unilateral They have taken steps but they are not going to change the situation between us or the ground reality by doing anything on their part.”
