Kathmandu: Governor of Nepal Rastra Bank (NRB), Maha Prasad Adhikari, announced that agreements with China and Sri Lanka on digital payment systems are in the final stages. Speaking at an interaction on the upcoming monetary policy organized by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) on Tuesday, Adhikari indicated that agreements with China's Ali Pay and Sri Lanka's Lanka Pay for digital payment transactions are expected soon.

Adhikari noted an increase in transaction volumes with India following the commencement of cross-border digital payments. He also mentioned ongoing discussions with the Indian Reserve Bank to facilitate transactions involving Indian notes in denominations of 500 and 1,000.

The Governor assured that the forthcoming fiscal year's monetary policy would be based on an objective analysis of facts, statistics, and current practices.

FNCCI President Chandra Prasad Dhakal urged the Governor to formulate a monetary policy that would encourage industries to enhance their production capacity and stimulate market demand. He highlighted that despite sufficient liquidity in banks and financial institutions, loan expansion remains lackluster.

Dhakal also called for provisions in the monetary policy to implement the announced reduction in interest rates for the industrial sector. He emphasized that the reduced repayment capacity of industries due to a decline in demand needs to be addressed, advocating for policies that promote investment.