NRB and RBI Joint Technical Coordination Committee Meeting Concludes in Kathmandu

4th November 2025, Kathmandu

The ninth meeting of the Joint Technical Coordination Committee (JTCC) between the Nepal Rastra Bank (NRB) and the Reserve Bank of India (RBI) was successfully concluded in Kathmandu on 3rd November 2025 (17 Kartik 2082).

NRB RBI Meeting Concludes

This platform, established in 2016, serves as a crucial mechanism for result-oriented dialogue and technical cooperation to address cross-border financial and monetary issues between the two nations.

Key Focus Areas and Strategic Dialogue

The meeting featured high-level representation from both central banks, focusing on enhancing technical capabilities, streamlining bilateral processes, and adopting international best practices.

Cross-Border Payment Systems

A primary focus of the discussion was the facilitation of cross-border electronic payment systems between Nepal and India. This agenda item is critical for enhancing trade, tourism, and remittance flows, particularly following previous agreements to link Nepal’s National Payments Interface (NPI) with India’s Unified Payments Interface (UPI). The officials discussed concrete steps needed to make these digital payment channels more seamless, secure, and widely accessible to citizens of both countries.

Exchange of Best Practices

Governor Prof. Dr. Biswo Nath Poudel, in his inaugural address, emphasized that the JTCC is an important forum for the exchange of best practices across several critical central banking functions:

• Monetary Policy formulation and execution.
• Foreign Exchange Management policies and operations.
• Regulation and Supervision standards for the banking sector.
• Payment Systems development and oversight.

The second session of the meeting specifically explored the possibility of Nepal Rastra Bank adopting RBI’s best policy practices in areas such as monetary policy, liquidity management, and foreign exchange practices, aiming to improve policy effectiveness and technical capabilities within the NRB.

JTCC Objectives and Future Outlook

The JTCC, which was originally formed on 13 May 2016, serves to enhance coordination and cooperation between NRB and RBI and to address bilateral issues in the banking and financial systems.

RBI’s Perspective: Arnab Kumar Chowdhury, Executive Director of RBI and JTCC Coordinator, highlighted that the mechanism has already led to fruitful initiatives in currency management, facilitation of foreign trade and payments, and promotion of financial inclusion. He expressed confidence that mutual cooperation will continue to grow stronger.

NRB’s Commitment: Rajan Bikram Thapa, newly promoted Executive Director and JTCC Coordinator from NRB, welcomed the delegates and stressed the need to make the platform even more meaningful and result-oriented to promote bilateral interests. Governor Paudel added that this mechanism will further strengthen institutional relations and technical cooperation in the future.

High-Level Participation and Knowledge Sharing

The meeting saw significant representation from the top ranks of both central banks, facilitating substantive discussions and knowledge exchange.

Central Bank Leadership

The opening session was attended by NRB Governor Prof. Dr. Biswo Nath Poudel and Deputy Governor Bam Bahadur Mishra, underscoring the importance the central bank places on this bilateral relationship.

Key officials present from NRB included Executive Directors Revati Prasad Nepal, Vishrut Thapa, Guru Prasad Paudel, Kiran Pandit, Dr. Ram Sharan Kharel, Dr. Dilli Ram Pokhrel, and Nischal Adhikari.

The RBI delegation was led by Executive Director Arnab Kumar Chowdhury, accompanied by General Managers Latha Radhakrishnan and Saswat Kumar Mahapatra, and Manager Aparna Vakil.

Technical Presentations

Following the core discussions, the RBI delegation conducted two informational presentations to share best practices from India’s experience:

• Economic Overview: RBI Executive Director Choudhary provided an update on the overall status of the Indian economy.
• Payment System Development: RBI General Manager Mahapatra presented on the rapid and successful development of India’s payment system, an area of particular interest to NRB as it modernizes Nepal’s digital infrastructure.

The successful conclusion of the ninth JTCC meeting reaffirms the commitment of both central banks to a coordinated approach on economic and financial sector matters, which is vital for the stability and growth of the India-Nepal economic corridor.

For More: NRB RBI Meeting Concludes