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KATHMANDU: Cooperatives and microfinance institutions also have to go for electronic payment system. The central bank has made public the monetary policy for the current fiscal year today and mentioned that electronic payment will also be encouraged in cooperatives and microfinance.
The monetary policy states that electronic payment services will be extended to the customers of microfinance financial institutions and cooperatives by expanding the scope of business of payment service providers and payment system operators.
In addition, necessary coordination will be made to effectively implement the existing limit of cash transactions in savings and credit cooperatives as well.
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