Digital transactions backbone of transparency: NRB Governor

By A Staff Reporter,Kathmandu, Dec. 24: Nepal Rastra Bank (NRB) has launched a digital financial literacy programme from Darchula district of Sudurpaschim Province. Digital financial literacy programme was launched amidst a function organised at Khalanga, the headquarters of Darchula, Friday, according to a press statement of NRB.

On the occasion, Governor Maha Prasad Adhikari said that there has been a significant increase in electronic payment transactions in recent times and informed that the programme has been started to further promote and encourage digital transactions.

"It has been found that more than 4.2 million transactions have been made through QR in only one month. This is an exciting situation in itself. We have launched a digital financial literacy programme to further encourage digital transactions," he said.

Mentioning digital transactions as the 'backbone of transparency', governor Adhikari said that digital transactions will also help in corruption control and promotion of good governance.

He emphasised on the need to make electronic payment transactions more effective for the development of the digital economy by implementing the 'Digital Nepal Framework' of the government. He also requested everyone to be aware of the risks that may come in digital business.

On this occasion, Guru Prasad Poudel, Executive Director of the Payment System Department of NRB, highlighted the purpose and justification of the Digital Financial Literacy Programme.

On this occasion, Ajit Regmi, Director of the Governor's Office, presented a working paper and informed about the relevance of digital financial literacy, its basic aspects, digital financial services available in Nepal, its benefits, and precautions to be taken in business.

More than 100 people participated in the programme, including the provincial chiefs of commercial banks’ far western region, banks and financial institutions based in Darchula, Darchula Industry and Commerce Association, Agricultural Knowledge Centre, representatives of local cooperatives and students.

With the aim of promoting and encouraging electronic payment transactions, NRB has been adopting related policy arrangements over the years.

In the monetary policy of the fiscal year 2022/23, it is also mentioned that necessary institutional coordination will be made to celebrate the current fiscal year as the 'Electronic Payment Business Promotion Year'.

Meanwhile, Governor Adhikari held separate meetings with representatives of banks and financial institutions, Darchula Industry and Commerce Association and Agricultural Knowledge Centre, Darchula today and discussed various issues. During the meeting, he instructed the regional heads of the commercial banks in Sudurpashchim Province and the branch chiefs of the banks and financial institutions in Darchula to provide effective service.

Similarly, in a discussion with the officials of the Chamber of Commerce and Industry, Adhikari inquired about the enterprise/business, transaction of Indian rupees and the services of banks and financial institutions in Darchula district.

In a discussion with the representative of the Agricultural Knowledge Centre, Governor Adhikari took information about the current situation and prospects of commercial agriculture in Darchula district, agricultural credit and interest subsidy and future possibilities of agricultural sector promotion.