The leadership of the Governor on the Vision Path of Digital Economy: Facilitating Digital Payments

Nepal Rastra Bank has published its annual report of the Fiscal Year 2077/78. Highlighting the milestones it has reached in the 66 years of operation as the Central Bank of Nepal, the document this year was quite impressive as it portrayed the surge of digital payments in the country along with the financial inclusion.

The 24th point of executive summary highlights that the financial access of people towards banks and financial institutions (BFIs) has increased to a larger extent. It is noteworthy that today 747 out of 753 local level governmental units are endowed with the commercial banking services. Data speaks, till the end of FY 2077, there has been a total of 4436 branches of “A” class BFIS (Commercial Banks), 1029 branches of “B” class BFIs (Development Banks), 243 branches of “C” class BFIs (Finance Companies) and 4057 branches of “D” class BFIs (Microfinance Companies) across the country. Similarly, the number of branchless banking has reached 1574.