Kathmandu, Sept. 3 -- Nepal's central bank has introduced a new framework for identifying Systemically Important Payment Systems (SIPS), a move aimed at strengthening oversight of the country's payment ecosystem and ensuring that it meets international best practices while contributing to financial stability and economic growth.

According to the framework issued on Monday, designating certain payment systems as SIPS and reinforcing regulatory supervision will help enhance the resilience of Nepal's payment infrastructure. This, the central bank says, will enable the systems to withstand potential disruptions while at the same time promoting innovation, financial inclusion, and sustainable development.

The framework has been designed to s...