Demonetised notes reduced by Rs 5.25 billion in a month due to increase in digital payments
लगानी न्यूज
Kathmandu. According to Nepal Rastra Bank( NRB), the currency notes have decreased since mid-July compared to mid-July. According to the data released by the Rastra Bank, the number of currency notes in circulation has decreased by Rs 5.28 billion in a month.
The TAG_OPEN_div_10 notes in circulation have come down from Rs 750.11 billion to Rs 744.82 billion by mid-July this year. Digital payments have been on the rise lately. As a result, the circulation of digital notes has come down.
The rapid expansion of the digital payment system in recent times has played a major role in reducing the use of cash. Mobile banking, QR code payments, internet banking and card usage have increased rapidly, which has reduced dependence on cash. Nepal Rastra Bank (NRB) is also continuously promoting the payment system to make it safe and fast. This shows that with the expansion of financial access, the trend of doing business through digital means is getting stronger.
The decline in currency notes is also seen by economists as a positive sign in the economy. This is expected to reduce informal sector transactions, make transactions transparent and increase the flow of savings and investment through financial institutions. However, since the tradition of cash transactions in rural areas is still strong, experts suggest that infrastructure development and public awareness should be increased to make digital payments accessible.
प्रतिक्रिया दिनुहोस्