Nepali Citizens to Benefit from QR Code Payment System During India Visit

Nepali citizens will now find it easier to make payments via QR code while visiting India. Nepal Rastra Bank Governor Bishwanath Poudel and Reserve Bank of India (RBI) Governor Shaktikanta Das discussed facilitating this system during their meeting. The meeting focused on enhancing the inter-country electronic payment system, QR-based transactions, and bilateral cooperation.

The meeting, held last week at RBI's headquarters in Mumbai, included detailed discussions on issues like the electronic payment system between Nepal and India, and the creation of an environment where Nepali citizens visiting India can make payments easily via QR codes.

In addition to the payment system, the discussion also included topics such as monetary policy, liquidity management, foreign exchange management, supervision based on artificial intelligence, and best practices in information technology adopted by RBI.

During the meeting, officials also discussed expanding cooperation between the two countries in the financial sector and addressing current and emerging topics. On the occasion, Nepal Rastra Bank’s Executive Directors, Kirin Pandit (Foreign Exchange Management Department), Satyendra Timilsina (Payment Systems Department), and Dirgh Bahadur Rawal (Bank Supervision Department) expressed their views on further collaboration with RBI.

During his visit, Governor Poudel also met high-ranking officials from the International Financial Services Centres Authority (IFSCA) in Ahmedabad, Gujarat. The meeting focused on discussing the concept, current status, investment promotion policies of Gujarat International Finance Tech-City (GIFT City), and the potential for collaboration with Nepal Rastra Bank.