KATHMANDU: The first bank of Nepal — Nepal Bank Ltd (NBL) — has at last launched its ATM service from on Friday. It started its ATM services at three places — Lazimpat, Kantipath and the head office. The first ATM was inaugurated by deputy governor of Nepal Rastra Bank (NRB), Bir Bikram Rayamajhi, at the NBL head office in New Road.

“The transformation of Nepal Bank from a token bank to a modern technology ATM bank is an important step in competing with private banks in the country,” Rayamajhi said adding that there is need for new equity injection to develop the bank.

In the second phase, the bank

aims to start its ATM services at Narayangarh, Biratnagar and 20 other places

across the country. “The bank also aims to computerise all of its branches within a year,” said bank CEO Dr Binod Atreya. Along with this, branches in Dungre, Suruga will also be opened soon as announced during the programme.

The bank is planning to distribute ATM cards free of cost in the begining and has a target of one lakh cards. The ATM cards can be used in all the SCT network — 1,400 Points of Sale (PoS) and 247 ATMs affiliated to the SCT network in Nepal apart from 1,200 ATMs in India, Dr Atreya added.

Narahari Dhakal, co-ordinator of NBL’s management committee, said on the occasion that to compete with the modern private banks NBL has to focus on cash handling and cash management as well as modern technology. He added that the bank will not be limited to ATM banking but expand its horizon by initiating the service of credit cards very soon.