Nepal Rastra Bank to promote digital transaction

Kathmandu: Governor of Nepal Rastra Bank (NRB) Maha Prasad Adhikari has said that the obligation to carry cash to buy vegetables will be removed very soon.
Addressing the general assembly of the Nepal Bankers Association, an association of CEOs of commercial banks, Governor Adhikari announced to remove the obligation of carrying cash by encouraging cashless transactions.

He said that NRB is working to promote digital transaction in every sector of the economic activities. According to the governor, digital transactions will also take place in vegetable markets within a year.

He said that banks are also assisting in the expansion of electronic payment services. “Rashtra Bank and my aim is not to carry cash when I go to buy vegetables after one year,” said the governor. QR Payment was launched in Naxal’s vegetable market last Friday.

Referring to that, he said that now the branches of the bank that have reached the villages will also be involved in such activities. Bankers Association President Bhuvan Dahal explain that commercial banks are providing modern banking facilities in villages. He said that the federation is ready to support the policy of NRB.

“The effective expansion of mobile / internet and other technologies in Nepal will make it easier for banks to jump from break banking to click banking,” he said. “Banks are also moving in this direction. The sooner we can expand digital channels, the sooner we reach all types of customers.”

Chairman Dahal said that in line with the vision of the Government of Nepal and Nepal Rastra Bank to make Digital Nepal, banks will move it forward as per the guidance of Rashtra Bank.