Kathmandu. In the first six months of the current fiscal year, transactions based on the Quick Response (QR) code have increased by about 90 percent. In particular, transactions through QR codes, which are considered convenient for small and retail payments, have increased significantly in recent times. The NRB, which has adopted a policy of discouraging cash transactions, has given priority to QR-based transactions this year.

Large sums of money are not always traded. But people have to keep doing business to meet their basic needs from making a living. Most of these transactions are small.

NRB is also making efforts for the development and expansion of QR cord based business. Accordingly, it is not only urging banks and financial institutions to start transactions based on QR code, but also facilitating them. Meanwhile, NRB Governor Maha Prasad Adhikari has launched QR code transactions in more than half a dozen places in the Kathmandu Valley.

Initially, Sanima Bank had started trading from Naxal-based vegetable market through QR code last December. Then on January 7, Prabhu Bank started trading in Kalimati Vegetable Bazaar, on January 9, Global IME Bank started trading in Nakhu Vegetable Bazaar in Lalitpur, on January 4, Nabil Bank started trading in Kuleshwor Vegetable Bazaar and NMB Bank started trading in Balkhu Vegetable Bazaar. Machhapuchhrer Bank has started trading in the vegetable market at Tinkune in Kathmandu on January 7, Civil Bank in Sindhuli Bazaar on January 12 and Bangladesh Bank in Chabahil Vegetable Market on February 7.