Central Bank Digital CurrencyCBDC

A CBDC differs from money in a bank account or wallet, which is a liability of a bank or PSP, because it is a claim on the central bank itself, like physical notes. It also differs from cryptocurrencies, which are issued privately and are not legal tender.

There are two main types:

• Retail CBDC: available to households and businesses for everyday payments, a digital equivalent of cash.
• Wholesale CBDC: restricted to banks and financial institutions for interbank settlement, similar to central bank reserves.

Design choices include account-based versus token-based models, direct versus intermediated distribution through banks, offline capability, privacy and whether the CBDC pays interest.

In Nepal, NRB studied CBDC following the monetary policy of 2021/22 and published a concept report in 2022, prepared under a steering committee, examining motivations, issues and design options. Because the Nepal Rastra Bank Act, 2058 recognises only physical notes and coins as legal tender, legal amendments are needed before a CBDC can be issued; NRB has indicated a cautious, phased approach.

बैंक खाता वा वालेटको रकम बैंक वा PSP को दायित्व हो भने CBDC नोटजस्तै सिधै केन्द्रीय बैंकको दायित्व हो। यो निजी रूपमा जारी हुने र वैध मुद्रा नभएको क्रिप्टोकरेन्सीभन्दा फरक हो।

• खुद्रा CBDC: आमजनता र व्यवसायका दैनिक भुक्तानीका लागि, नगदको डिजिटल रूप।
• थोक CBDC: बैंक तथा वित्तीय संस्थाबीचको फर्छ्यौटका लागि।

खातामा आधारित वा टोकनमा आधारित, प्रत्यक्ष वा बैंकमार्फत वितरण, अफलाइन क्षमता र गोपनीयता यसका डिजाइन विकल्प हुन्।

नेपाल राष्ट्र बैंकले आर्थिक वर्ष २०७८/७९ को मौद्रिक नीतिअनुसार अध्ययन गरी सन् २०२२ मा अवधारणा प्रतिवेदन सार्वजनिक गर्‍यो। नेपाल राष्ट्र बैंक ऐन, २०५८ ले भौतिक नोट र सिक्कालाई मात्र वैध मुद्रा मानेकाले CBDC जारी गर्न कानुन संशोधन आवश्यक छ।