Nepal Rastra Bank Introduces SIPS to Secure and Regulate Digital Payment Systems
Nepal Rastra Bank has unveiled the SIPS framework to identify and regulate systemically important payment systems, ensuring security and stability.
Nepal Rastra Bank (NRB) has launched the Framework for Identifying Systemically Important Payment Systems (SIPS) to strengthen oversight and safeguard the country’s fast-growing digital payment ecosystem.
The central bank noted that in recent years, electronic transactions have expanded rapidly, increasing both opportunities and systemic risks. The newly introduced framework aims to set clear standards for identifying, operating, and managing systemically important payment systems, which handle high-value and sensitive transactions crucial to financial stability.
SIPS, highlighted in the monetary policy for FY 2082/83, provides a regulatory structure designed to ensure safety, resilience, and risk management in the digital payment sector. By bringing these critical platforms under enhanced monitoring, NRB intends to minimize disruptions and maintain stability in the financial system.
According to NRB, systemically important payment systems are core components of the financial infrastructure. Strengthening their governance and operational reliability will support long-term confidence in digital finance and help sustain the overall stability of Nepal’s financial ecosystem.