Banking activities on rise in mid, far west
Nepalgunj: With a favourable environment for investment and improvement in trade and commerce activities, banking transactions have also witnessed a significant rise in Nepalgunj as well as other districts and towns in mid and far west Nepal.
Even in hilly and mountainous districts, where banking activities were near zero during the conflict, commercial banks have expanded their services. According to the Nepalgunj office of Nepal Rastra Bank (NRB), commercial banks, development banks and financial institutions have intensified opening of their branches in 18 districts of mid and far west Nepal. There are 130 branches of different financial institutions in these districts.
In Nepalgunj alone, 14 commercial banks, five development banks and six finance companies are providing their services while a few more banks are gearing up to open their branches.
Due to the rise in banking activities, banks’ deposit base rose by 32 per cent and investment by 18 per cent this year as compared to the deposit collection and investment during the previous fiscal year.
The deposit base of all banks rose to Rs 9.35 billion by mid-January. They have invested Rs 5.5 billion during the same period.