. KATHMANDU: The ninth meeting of the Joint Coordination Mechanism (TAG_CLOSE_span_12 JTCC) of Nepal Rastra Bank (NRB) and Reserve Bank of India (RBI) was held in Kathmandu on Monday.

Inaugurating the meeting, Governor Prof. Dr. Also speaking on the occasion, Dr Bishwanath Poudel said that the mechanism was effective to facilitate result-oriented dialogues on matters of inter-country concern and to resolve them in a technical way.

He said the JTCC has been established as an important forum in terms of the exchange of best practices in monetary policy, foreign exchange management, regulation, supervision and payment system, technical capacity building and effectiveness of policy making.

Governor Poudel expressed the belief that the exchange of institutional relations and technical support between the two central banks would be further strengthened through the forum in the coming days.

On the occasion, Executive Director of the Reserve Bank of India and Coordinator of JTCC Arnab Kumar Chaudhary said fruitful practices have been implemented since the establishment of the mechanism in terms of currency management, facilitation of foreign trade and payment transactions, and promotion of financial inclusion.

He expressed the belief that the mutual cooperation and coordination between the two central banks through the JTCC would be further strengthened in the days to come. In the meeting, Executive Director of the Office of the Governor and coordinator of the JTCC on behalf of the Rastra Bank, Rajan Bikram Thapa, pointed out the need to make the mechanism meaningful and result-oriented in the coming days to promote bilateral interests. During the second session of the meeting, officials of JTCC from both central banks discussed various agendas of bilateral concern.

On the occasion, issues related to facilitation of transboundary e-payment transaction and other contemporary issues were discussed between Nepal and India. Similarly, the possibility of adopting the good policy practices adopted by the RBI on monetary policy, liquidity management, foreign exchange management, among other matters was discussed.