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    Nepal Breaking NewsEconomy | FinanceMonetary policy made electornic payments mandatory for cooperatives and microfinance institutions

    Monetary policy made electornic payments mandatory for cooperatives and microfinance institutions

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    Electronic payment systems are also required for cooperatives microfinance institutions. Today, the central bank its monetary policy for the current fiscal year, stating that electronic payments will be favoured in cooperatives and microfinance.

    According to the monetary policy, electronic payment services will be extended to consumers microfinance financial institutions cooperatives by broadening the scope payment service providers’ and payment system operators’ businesses.

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    Furthermore, essential coordination will be undertaken to efficiently execute the existing cash transaction limit in savings credit cooperatives.


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