500 Rupees

Nepal's 500 Rupee notes of this period were issued under the interim constitutional framework following the formal end of the Maoist insurgency and the abolition of the monarchy — a prolonged political transition that created real uncertainty about whose portrait or symbol would appear on the country's currency. The royal cypher, used on earlier series, was politically untenable by 2007, which pushed the Rastra Bank toward alternative national imagery.

Pick 65 is among the first issues to reflect that post-monarchy design philosophy in this denomination.