Kathmandu — Nepali citizens travelling to India are expected to benefit from easier QR code–based digital payments, following discussions between the central banks of Nepal and India.

The issue was raised during a meeting between Nepal Rastra Bank Governor Biswanath Paudel and Reserve Bank of India (RBI) Governor Sanjay Malhotra at the RBI headquarters in Mumbai last week.

According to Nepal Rastra Bank, the talks focused on enhancing cross-border electronic payment systems between the two neighbouring countries, with particular emphasis on simplifying QR code payments for Nepali visitors in India.

The meeting also covered broader areas of financial cooperation, including monetary policy, liquidity management, foreign exchange regulation, and technology-driven supervision, including the use of artificial intelligence in financial oversight. Indian authorities shared their policy experiences and best practices in these areas.

Discussions further addressed emerging issues in the financial sector and avenues for strengthening bilateral cooperation between the two central banks.

Senior officials from Nepal Rastra Bank, including executive directors from the Foreign Exchange Management, Payment Systems, and Bank Supervision departments, participated in the visit. They expressed interest in expanding technical collaboration with their Indian counterparts.

During the same visit, Governor Paudel also met senior officials of the International Financial Services Centres Authority (IFSCA) in Ahmedabad, Gujarat. The discussions included the development of Gujarat International Finance Tec-City (GIFT City), its regulatory framework, investment promotion policies, and potential areas of cooperation with Nepal Rastra Bank.

The move is seen as part of ongoing efforts to improve cross-border financial connectivity between Nepal and India, where millions of citizens travel each year for work, trade, and tourism.