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A 'Digital Currency' model will be prepared
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Nepal Rastra Bank is also going to take further initiatives to introduce electronic currency, which is being tested by the central banks of various countries, as an alternative to paper money or coins that are currently in circulation. In the monetary policy of the financial year 2081/82, it is mentioned that CBDC will be prepared.
Based on the study report recently published by the National Bank of Central Bank Digital Currency (CBDC), it is being tried to use 'Wholesale CBDC' in the first phase. It is stated in the monetary policy that the format (design characteristics) of the wholesale CBDC used in transactions between banks and financial institutions will be prepared.
"The central bank will proceed with the preparation of the model of wholesale CBDC based on the study on electronic currency," said the monetary policy. Rastra Bank has been continuously including various plans about CBDC in its monetary policy for the last few years. From July 2023, it has also established and put into operation a separate unit related to CBDC under its Payment System Department.
National Bank also mentioned in its fourth strategic plan that the pilot test of wholesale CBDC will be held in August 2026. It is said that the retail CBDC used by the general public will be decided from June 2027 and for the cross-border CBDC in December 2026.
प्रकाशित : श्रावण ११, २०८१ १३:३८
