Commercial banks yet to reach 76 levels
Kathmandu, Dec 3: Despite the government mandatory provision to open a commercial bank at every local level, no commercial bank has yet reached at 76 levels.
According to the latest details published by the Nepal Rastra Bank, the central bank of Nepal, commercial banks have reached with their services to only 677 levels, out of 753.
The NRB said that commercial banks have been established at 119 local levels, out of 137, in Province 1; and 132, out of 136, in Province 2.
Eight local units in Province 3 have not witnessed the establishment of commercial banks. The province has 119 local levels altogether. In case of Gandaki province, branches of commercial banks have been set up at 82 levels out of 85.
The central bank states that two levels in province 5 are yet to avail of the bank facilities locally while 62 out of 79 levels in Karnali have commercial banks.
A total of 65 units out of 88, in the Far Western province have no commercial banks.
Till October 17 this year, the number of banks and financial institutions getting permission from the central bank for operational autonomy has reached 154 and of them, the number of commercial banks is 28 while 33 are development banks; 24 are finance companies and 69 micro finances.