Under the aegis of its India-Nepal Centre and in association with Visa Inc and Banking, Finance and Insurance Institute of Nepal (BFIN), the PHD Chamber of Commerce and Industry (PHDCCI) organised “India-Nepal Fintech Summit 2025” on 30 June at New Delhi. Participated by the leading policymakers and industry leaders from both India and Nepal, the Summit hosted meaningful dialogues to come forward for further enhancing India-Nepal bilateral cooperation in the financial technology (fintech) domain. This also paves the way of recognising Community Engagement, Social/Financial/Digital Inclusion & Diversity and Social Impact as major transformational attributes of payment innovation drive.
Speaking on the occasion, Amb Dr Shankar Prasad Sharma, Ambassador of Nepal to India, said: “Nepal has made impressive progress in FinTech, driven by the growing need for mobile banking and digital services. There's strong momentum, but to move forward, we must act quickly-beyond signing MOUs-to implementation. Coordination between ministries is crucial, and improving systems for digital service exports, taxation, and international payments will help us unlock our full potential.”
Amb Munu Mahawar, Additional Secretary (North), Ministry of External Affairs, Government of India, said: “India and Nepal share a very special relationship, rooted in history, culture, and a unique treaty framework. We deeply appreciate PHDCCI India-Nepal Centre for its constant support in promoting India-Nepal economic ties. With Nepal's special access to the Indian market and our shared commitment, I'm confident our partnership will continue to grow and flourish in the years ahead.”
Anand Jha, Vice President (Head of Government Engagement: India & South Asia), Visa Inc, said: “The idea for this seminar stemmed from my visit to Nepal, where I saw a real need for guidance and mentorship. Startups don't need rocket science-they need the right mentor and direction. Nepal, especially in the digital payments space, has a huge untapped market for fintech innovation. India has walked a similar path, and thanks to bold private initiatives and institutional support like Startup India.”
Vaibhav Taranekar, Vice President (Client Services), Visa Inc, said: “Fintech is now an integral part of the financial ecosystem across South Asia. While many initially believed they could operate alone, today, everyone wants to be part of the fintech experience. The biggest transformation has been in empowering merchants optimizing their digital footprint, made possible only through fintech. Its success lies in the spirit of collaboration that has turned fintech into a true support system.”
The “India-Nepal Fintech Summit 2025” was chaired by Amb Manjeev Singh Puri, Chair, India-Nepal Centre, PHDCCI & India’s Former Ambassador to Nepal and moderated by Atul K Thakur, Secretary, India-Nepal Centre, PHDCCI. Among others, it was addressed by: Md. Alam Ansari, Deputy Director (Startup India), Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India; Dr Jatinder Singh, Deputy Secretary General, PHDCCI; Anukool Bhatnagar, Adviser, India-Nepal Centre, PHDCCI & Former MD & CEO, Nepal SBI Bank Ltd (NSBL); Jyoti Prakash Gadia, Co-Chair, BFSI Committee & Managing Director, Resurgent India Ltd; Diwas Sapkota, CEO, Fonepay; Pranaya Rajbhandari, CEO, FOCUSONE Payment Solutions (MOCO – Digital Wallet); Dr Binod Atreya, Managing Director, Banking, Finance and Insurance Institute of Nepal (BFIN); Dushyant Thakor, Deputy Executive Director, World Association of Investment Promotion Agencies (WAIPA); Dr Seema Sharma, Professor (Economics), Department of Management Studies, IIT Delhi; Dr Jayanthi Ranjan, Vice Chancellor, Sharda University (Agra); Dr Deepak Tandon, Senior Professor (Finance), Jaipuria School of Business; Shishir Sinha, Associate Editor, The Hindu Business Line; Shashvat Singh, Senior Fellow, India Foundation; Aniruddha Shanbhag, Director, Koan Advisory Group; Mahesh Kumar Agrawal, Bihar State Coordinator, Seema Jagran Manch; Atul Koirala, Board Member, BP Koirala India-Nepal Foundation & Techno-Entrepreneur; Bikas Rauniar, Executive Director, Interstate Multi Modal Transport (P) Ltd
India and Nepal have made significant strides in fintech collaboration, particularly through the integration of India's Unified Payments Interface (UPI) with Nepal's payment systems. This partnership aims to enhance cross-border digital transactions, promote financial inclusion, and strengthen economic ties between the two nations. In June 2023, the National Payments Corporation of India’s international arm (NIPL) and Nepal Clearing House Limited (NCHL) signed a Memorandum of Understanding (MoU) to integrate India's UPI with Nepal's National Payments Interface (NPI). This has eased the cross-border fund transfers and merchant payments between the two countries, however, recognising the challenges are important for broader fintech collaboration. Nepal lacks a comprehensive regulatory framework and a strong investor network to fully support fintech growth. Still, the nation has laid important groundwork that could enable fintech innovations to play a pivotal role in driving broader economic progress in the years ahead. Beyond digital payments, India and Nepal should explore collaborations in other fintech areas with focus on expertise and scale for payment innovations including Electronic Real-Time Payments, Investment Banking and Fintech Ecosystem Development.
The policy recommendations of the Summit shall support the ongoing efforts to make the payment systems between India and Nepal smooth and thus making the businesses and lives reaping their benefits for greater common good.
