KATHMANDU, August 13: Nepal Rastra Bank has announced to promote fiscal year 2021/22 as electronic transaction promotion year.
Unveiling the monetary policy on Friday, Governor of Nepal Rastra Bank Maha Prasad Adhikari announced to focus on developing necessary infrastructures and promoting awareness among people for the electronic payment.
The NRB has announced plans to maintain record of digital transactions and settle digital transactions that take place within the country by interlinking digital payment tools. The central bank has also announced plans to establish a national payment gateway to introduce payment cards.
The NRB has announced a review of the limit set for digital transaction payment through various tools to promote electronic transactions. It has also announced plans to reduce the tariff imposed in digital transactions.
Among other things, the NRB has announced the necessary facilitation to the government agencies to receive money through electronic payment. It has also announced plans to make payment of social security allowance through the electronic transaction system.
The Monetary Policy has announced a number of incentives for banks and financial institutions going for merger. It has also set a ceiling of Rs 120 million from banks against the deposit of shares.