With just days left in the current Fiscal Year 2024/25, electronic payments in Nepal have surged dramatically, continuing a pattern of year-end financial activity fueled by government disbursements, public payments, and development-related transactions.
According to the latest 11-month report released by the Nepal Rastra Bank (NRB), electronic transactions across all major platforms totaled a staggering Rs 864 trillion from Shrawan to the end of Jestha (mid-July to mid-May). Of that, Rs 83.24 trillion worth of payments were made in Jestha alone, making it the busiest month for digital payments in the entire fiscal year.
In comparison, Rs 81.76 trillion in payments were recorded in Baisakh, while Chaitra saw Rs 67.98 trillion—indicating a sharp upward trajectory leading into the fiscal year’s final month.
The Real-Time Gross Settlement (RTGS) system continued to dominate, processing Rs 62.49 trillion in Jestha, a Rs 1.4 trillion increase over Baisakh. Over the 11-month period, total RTGS transactions reached Rs 656.90 trillion.
Other high-volume platforms also posted strong figures. Electronic Cheque Clearance (ECC) processed Rs 520 billion in Jestha and Rs 5.5 trillion overall. The Faster Payment System handled Rs 472 billion, while Mobile Banking facilitated Rs 456 billion. Meanwhile, Interbank Payment System (IPS) contributed Rs 257 billion, and QR code-based payments reached Rs 93 billion.
Interestingly, while large-value systems like RTGS, ECC, and IPS witnessed a notable rise, smaller transaction platforms showed a decline compared to the previous month of Baisakh.
This digital payment surge coincides with a race against time for public expenditure. Out of the Rs 1.86 trillion allocated for the fiscal year, only Rs 1.466 trillion (78.84%) had been spent by the end of Jestha. With Rs 400 billion left to disburse in just five remaining days, the pressure to meet the target is driving record-level digital transaction volumes.
The data not only underscores the growing reliance on digital financial systems but also reflects the urgency and scale of year-end spending within Nepal’s public financial system.
