11th August 2023, Kathmandu
The government (National Cyber Security Policy) has made crucial decisions pertaining to cyber security and currency circulation.
During a recent Council of Ministers meeting held at the Office of the Prime Minister and Council of Ministers (OPMCM), multiple decisions were taken that reflect the government’s commitment to safeguarding the nation’s cyber landscape and bolstering its economic infrastructure.
National Cyber Security Policy Endorsed:
The Nepalese government has taken a proactive stance on cyber security by endorsing the National Cyber Security Policy for the year 2080.
This pivotal decision, announced by Rekha Sharma, Minister for Communications and Information Technology and government spokesperson, marks a significant step towards fortifying the country’s digital ecosystem. The new policy is expected to bring about substantial changes in Nepal’s cyber security landscape, ensuring a safer and more secure online environment for citizens, businesses, and institutions.
The policy’s enforcement is anticipated to usher in a new era of digital protection and resilience in Nepal.
[Link to complete policy document: National Cyber Security Act 2080]
Nepalese Currency Minting Initiative:
In a move to address the nation’s monetary needs, the Council of Ministers has granted approval to the Nepal Rastra Bank (NRB) for the minting of 150 million pieces of Nepalese rupee 5 (five) denomination circulation coins.
This decision aligns with the government’s efforts to ensure an adequate supply of currency, supporting seamless economic transactions across the country. The move also reflects the government’s commitment to maintaining a robust financial ecosystem that meets the needs of its citizens.
Banking Offense and Punishment (Second Amendment) Bill:
During the meeting, the cabinet also greenlit the tabling of the Banking Offense and Punishment (Second Amendment) Bill in the parliament. This legislative proposal underscores the government’s commitment to maintaining a transparent and accountable banking sector, thereby contributing to the overall stability of Nepal’s financial framework.
These pivotal decisions, encompassing cyber security, currency circulation, and banking regulations, demonstrate the Nepalese government’s proactive approach toward securing the nation’s digital landscape and financial systems.
With the endorsement of the National Cyber Security Policy, Nepal is poised for a safer and more resilient online environment, while the currency minting plans and banking regulations underscore the government’s dedication to sustaining a thriving economy.
