Nepal Moves Closer to Digital Rupee as NRB Completes CBDC Feasibility Study
Nepal Rastra Bank has completed its feasibility study on a Central Bank Digital Currency (CBDC), or Digital Rupee, highlighting its potential to strengthen payment security, expand financial access, reduce cash-management costs, and support Nepal’s transition toward a digital economy.
Nepal Rastra Bank has completed its feasibility study on a Central Bank Digital Currency (CBDC), or Digital Rupee, marking an important step toward modernizing Nepal’s financial and payment system. The study identifies improving payment security, reliability, and accessibility as the key objectives of a potential CBDC. It also highlights the possibility of expanding financial inclusion by making digital transactions more accessible to people in rural and remote areas. In addition, a Digital Rupee could help reduce the costs associated with printing and managing physical currency. However, the NRB has emphasized that its implementation would require amendments to the Nepal Rastra Bank Act, along with a comprehensive legal framework to protect users’ financial data and privacy.