Nepal, Aug. 26 -- Nepal carried out electronic transactions worth over Rs 98.43 trillion in the last fiscal year (FY), which was 71 percent more than the amount recorded in the previous FY.

The records with Nepal Rastra Bank (NRB) show that digital transactions have been soaring heavily in the past few years. In FY 2023/24, the amount was recorded at Rs 57.47 trillion. Considering the figure of Rs 34.42 trillion in FY 2020/21, the amount grew almost three-fold in the past five years.

Related story Two-day Huawei Digital Nepal Conclave 2022

According to the NRB officials, people have been switching to digital transactions from cash-based systems mainly due to an ease in trading mode along with safety concerns. In the FY 2024/25, people ...