The Reserve Bank of India (RBI) has taken a significant step to ease currency exchange for international travelers by inaugurating two foreign currency exchange counters in Raxaul, a strategically important city on the India-Nepal border. The counters were opened on Monday at branches of the State Bank of India (SBI) and HDFC Bank in separate ceremonies.
Facilitating Tourists at the Border
Sujit Kumar Arvind, Regional Director of RBI, Patna, who inaugurated the counters, stated that tourists traveling to and from Nepal through the Raxaul Integrated Custom Checkpost would now benefit from fair and authorized currency exchange services. Previously, travelers faced difficulties due to a lack of authorized facilities, often resorting to money exchange centers in Birgunj, Nepal, or wandering around in search of reliable services.
The new counters aim to provide relief to tourists by ensuring transparent transactions and competitive rates. Arvind also mentioned that the government is considering the exchange of Nepali currency at these counters, which will be implemented following a formal government decision.
Boosting Raxaul's International Profile
Speaking at the events, Sheo Kumar Yadav, General Manager of RBI; Prafull Kumar Jha, Deputy General Manager; and Sanjeev Kumar Singh, an RBI officer, highlighted that the establishment of foreign currency exchange counters is a major achievement for Raxaul. They emphasized that this development will strengthen the city's position as an emerging hub for international trade and tourism, given its proximity to the border.
Call for Nepali Currency Exchange
Mahesh Agrawal, State Coordinator of Seema Jagran Manch, welcomed the initiative but stressed the pressing need for an authorized system to exchange Nepali and Indian currencies. He noted that while the foreign currency counters are a positive step, the real requirement for cross-border travelers is a seamless mechanism for converting between the two local currencies.
The move is expected to enhance the travel experience for tourists and boost economic activity in the region, reinforcing Raxaul's role as a gateway between India and Nepal.
