In order to ensure connectivity in digital finance, the Nepal Rastra Bank and the Nepal Telecommunication Authority (NTA) will be working together. The agreement between both the organizations will be held very soon, said NTA.
To avoid the hurdles and flaws of digital business both of the organizations are tying up with each other said Minprasad Aryal Spokesperson at NTA. NTA will have a significant role in digital finance that’s why the collaboration is done added Aryal. NRB will look after all the business done through digital transaction whereas; NTA will assist in the networking part.
A different committee will be formed for this association who will look after all the work done by the collaboration of NTA and NRB regarding digital finance connectivity. The committee will also carry out essential research and studies.
The key motive of the digital finance connectivity is to bring cashless system by encouraging people to use their mobile for any kind of financial transaction.
According to the source of National Rastra Bank, digital payments are linked with connectivity so the collaboration was necessary.
The agreement has been prepared with NTA to ensure connectivity with the organization that is associated with NRB or licensed by the NRB.
Once everything regarding digital finance will be finalized, the entire network providers have to facilitate similar kind of service to all the company who applies digital transaction. The service will not create obstacles to the public in relating to digital finance. In this collaboration, NTA is responsible to ensure connectivity and to monitor the entire network provider. Likewise, NRB is responsible to monitor in all the digital transaction. Similarly, it will also examine on all the company who pursue digital transaction.
The collaboration between NTA and NRB almost clarifies that the government organizations have also realized the importance of digital finance. We can even consider this collaboration as one of the biggest steps towards the digital economy.