Nepal and India to Ease QR Code Payments for Nepali Citizens Visiting India

Kathmandu. Further facilitation will be provided for QR code-based payments by Nepali citizens during their visits to India. This matter was discussed during a meeting between Nepal Rastra Bank Governor Vishwa Nath Poudel and Reserve Bank of India (RBI) Governor Sanjay Malhotra.

The meeting between the governors of the central banks took place last week at the RBI headquarters in Mumbai. Nepal Rastra Bank stated that the discussions focused on cross-border electronic payment transactions between Nepal and India, as well as bilateral interests. The discussions during the meeting were centered on facilitating QR code payments for Nepali citizens while traveling in India.

Furthermore, discussions were held regarding monetary policy, liquidity management, foreign exchange management, AI-based supervision, and the RBI's best policy practices in the field of information technology.

The meeting also covered emerging and contemporary issues in the financial sector, along with matters of bilateral cooperation and exchange.

Executive Director of the Foreign Exchange Management Department of Nepal Rastra Bank, Kiran Pandit, Executive Director of the Payment Systems Department, Satyendra Timilsina, and Executive Director of the Bank Supervision Department, Dirgha Bahadur Rawal, expressed views on potential collaboration with the RBI on various issues related to their respective departments' operations.

During his visit to India, Governor Poudel also held meetings with senior officials of the 'International Financial Services Centres Authority' in Gandhinagar, Gujarat.