Nepal Rastra Bank (NRB) inaugurated the ‘Digital Financial Literacy Campaign’ on Friday, December 23. With the aim of making citizens aware of digital transactions, the central bank started the campaign from the Darchula district of Sudurpashchim Province.
Speaking at the inaugural program of the campaign in Khalanga, NRB governor Mahaprasad Adhikari mentioned that digital transactions are the backbone of transparency in the economy. Governor Adhikari stated that electronic transactions is increasing significantly in recent times. He emphasized further promotion and encouragement of digital transactions.
“It’s found that more than 4.2 million transactions have been made through QR only in one month. This in itself is an encouraging situation. “We have started a digital financial literacy program to further encourage digital transactions,” he said.
Governor Adhikari believes that digital transactions can contain corruption and promote good governance
Calling digital transactions the backbone of transparency, governor Adhikari expects that digital transactions will also help in reducing corruption and promoting good governance. He emphasized the need to make electronic payment transactions more effective for the development of the digital economy by implementing the Digital Nepal Framework.
He also requested everyone be aware of the risks of digital transactions.
The participants in the program were informed about the current situation and indicators of electronic payment transactions in Nepal as well as the relevance of digital financial literacy, its basic aspects, digital financial services available in Nepal, its benefits, precautions to be taken in transactions, etc.
The digital transaction has been a key focus for the regulatory bank. In its monetary policy for the financial year 2079/80, it is also mentioned that necessary institutional coordination will be maintained to celebrate the current financial year as the year of promotion of electronic payment transactions.
The bank recently released its financial literacy report too. The report highlighted Nepal’s financial literacy surpassing 57 percent, which reflects an improving condition for financial inclusion.