The Indian government's sudden decision Tuesday to demonetize the Rs 500 and Rs 1,000 currency notes has hit hard people like Karan Awasthi who have returned home after working in India.

Awasthi arrived here three days back from Hyderabad, India to travel on to his home at Damal in Dadeldhura. But he is stranded here as he cannot exchange the IC 500 and 1,000 banknotes that he has with him following the decision.

"I went to many banks and even approached businessmen in Dhangadhi to exchange these notes. But no one would," said an exasperated Awasthi, showing bundles of the Rs 500 and Rs 1,000 demonetized currency notes.

Awasthi did not have a single Nepali currency note with him and so was having a problem. He could not buy the bus ticket and had problem with accommodation and food since he did not have Nepali banknotes.

Like Karan, Chet Awasthi, another India-returnee from Dadeldhura, is in a similar predicament. He does not know what to do with the Rs 500 and Rs 1,000 IC notes that he has with him – the hard-earned money that he toiled for in India.

He expressed his dismay at the situation that the bundles of the Indian banknotes of 500 and 1,000 denominations that he has have been demonetized and are now like 'waste paper'.

"Nobody here wants to exchange the IC notes, not even the banks. Where do we go? We have no Nepali currency notes with us," he said.

The Awasthi duo is but the representative of the hundreds of Nepalis who have returned from India and are facing difficulties with the halt in the transaction of the IC 500 and 1,000 banknotes. Many India-returned Nepalis are facing this problem in the bordering towns including Dhangadhi.

Equally affected by the demonetization of the IC 500 and 1,000 notes are businessmen, traders and the general public at the bordering towns. A situation of confusion has arisen regarding whether or not the demonetized IC notes they have would be exchanged.

Nepal Rastra Bank (NRB), the central bank of the country, also banned the IC 500 and 1,000 denomination notes after the Indian government's decision to that effect. RSS