Kathmandu. Nepal Rastra Bank (NRB) has prepared a five-year strategic framework with the objective of increasing innovation and competition in the fintech sector along with expanding access and use of digital financial services.

The ‘Fintech Strategy for Digital Financial Services’ prepared by the Payment Systems Department of the Rastra Bank is proposed to be implemented from 2026/27 to 2030/31. The strategy prioritizes fintech-friendly regulation, secure and robust digital infrastructure, and collaboration among stakeholders.

The main objective of the strategy is to expand access to digital financial services, increase competition in financial sector, expand service options, minimize risks to financial stability and reduce the cost of financial services through the use of technology.

For the implementation of the strategy, three main pillars have been set: infrastructure development, policy-regulation and good governance, and the development of the fintech ecosystem. The NRB has put forward a plan to develop the necessary regulatory system to create an environment of equal competition among fintech service providers.

The strategy also prioritizes the development of a secure, reliable and robust digital system as well as the expansion of new digital financial products and services. The strategy also includes encouraging innovation in the financial sector, increasing digital financial literacy and making the use of technology more effective.

The NRB targets micro, small and medium enterprises (MSMEs), rural sector, youth, women, children and workers in the gig economy.

The NRB hopes that the implementation of the strategy will lead to the development of a secure, inclusive, innovative and interconnected digital financial system. In addition, the development of the fintech sector will increase access and use of digital financial services and create a more competitive environment in the financial sector.