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Nepal, which once relied on India to print its banknotes, has since 2015 turned to China for this service. Most of India’s neighbouring countries have similarly moved their currency printing operations to China.

Nepal’s decision to switch from India to China was influenced by economic and political reasons. The Chinese company’s bid was the lowest in a global tender and offered advanced technology. Additionally, Nepal’s new banknotes include a revised map featuring disputed territories with India, making it politically sensitive for India to print them.

Nepal’s new currency notes display the disputed regions of Lipulekh, Limpiyadhura, and Kalapani as part of Nepal. Due to these political tensions, India was unwilling to print the notes, prompting Nepal to seek al

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