Nepal Rastra Bank, the central bank of Nepal has informed that commercial banks have reached to 703 local levels , increasing the access to banking in Nepal. There are a total of 753 local levels (municipalities and rural municipalities) in Nepal. It means, only 50 local levels do not have the presence of commercial banks.
The highest banking access in Nepal is in Province 2, where commercial banks have reached to 133 out of the total of 136 local level units. Whereas, the least banking access in Nepal is in Karnali province, where commercial banks have reached to only 63 out of the total of 79 local level units.
While the setting up of new banks and innovations in banking technology may help raise access to banking in Nepal in the years ahead, current NRB data shows that Nepal has a long way to go in meeting basic financial inclusion goals.
As per Global Findex database 2017, only 45 percent of adult population in Nepal have a bank account. However, the government in its latest budget has announced to open a special campaign to open a bank account of all Nepalis within a year. It is expected to bring financial inclusion to the unbanked population. Furthermore, to promote banking habit, the government has already started distributing social security allowance and all other government to citizen payments through banks.
Access To Banking In Nepal
As per the latest data of Nepal Rastra Bank, there are a total of 28 Commercial Banks, 33 Development Banks, 24 Finance Companies, and 72 Micro Credit Development Banks in Nepal. (List of Banks in Nepal)
|Province||No. of Local Levels||No. of local levels having commercial bank branches|
(This table shows the spread of commercial banks across provinces and local levels in Nepal, and the level of access to banking in Nepal)