NRB Siddharth Nagar

29th April 2022, Kathmandu

Nepal Rastra Bank is preparing to launch digital currency; Deputy Governor Mishra

Even though the government has yet to approve the usage of virtual currencies, Nepal Rastra Bank (NRB) is prepared to debut digital money in the domestic market.

Speaking at the NRB’s 67th-anniversary celebration on Wednesday, Deputy Governor Bam Bahadur Mishra said the central bank is preparing to replace physical cash with virtual currency. After India increased its preparations to launch a digital version of its currency by the end of March 2023, the NRB is eager to deploy digital money.

He also stated that the external sector was putting pressure on the economy. To handle the influence of the external sector on the economy, he said that the NRB had to adopt a strict and flexible policy from time to time.

He stated that as the situation gets comfortable, strict rules will become more flexible, and flexible policies will also go forward in a timely way.

Nepal Rastra Bank was said to be in preparation for digital currency in the month of February. You can read the previous article on Nepal Rastra Bank in Preparation of Digital Currency HERE

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