Kathmandu: Nepal Rastra Bank (NRB) has awarded a major currency printing contract to the China Bank Note Printing and Minting Corporation, entrusting the Chinese state-owned security printing firm with producing banknotes of NRs 50, NRs 500 and the latest NRs 1,000 denominations.
NRB spokesperson Guru Prasad Paudel confirmed to PTI that the agreement was finalised recently. Under the contract, the Chinese company will be responsible for designing, printing and delivering the banknotes within nine months.
According to Paudel, the central bank provides detailed specifications for each denomination. “The company designs the notes based on our requirements. The design is approved by NRB before the printing process begins,” he said.
This award follows a Letter of Intent issued earlier this month, enabling the same Chinese firm to design and print 430 million pieces of the new NRs 1,000 banknote.
New Features in the NRs 1,000 Note
The redesigned high-value note will feature seven rhododendrons, Nepal’s national flower, symbolising the country’s seven provinces — a new addition to its existing design elements. The series will also carry the signature of Governor Prof Dr Biswo Nath Poudel, which will appear on Nepali currency for the first time.
China Bank Note Printing and Minting Corporation was selected based on the lowest evaluated bid and has previously printed Nepalese notes of Rs 5, Rs 10, Rs 100 and Rs 500 denominations.
Nepal’s Updated Map on Currency
The development comes shortly after Nepal issued updated Rs 100 banknotes that include a revised national map incorporating Kalapani, Lipulekh and Limpiyadhura—territories that India claims as its own, adding a geopolitical backdrop to the country’s currency updates.
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