Thursday, February 15, 2018

Latest statistics of Financial Institutions in Nepal

By the end of mid – July 2015, altogether 241 banks and non- bank financial institutions licensed by NRB are in operation. Out of them,
Nepal Rastra Bank

  • 30 are “A” class commercial banks, 
  • 76 “B” class development banks, 
  • 47 “C” class finance companies, 
  • 38 “D” class micro-credit development banks, 
  • 15 saving and credit co-operatives and 
  • 27 NGOs and 8 other institutions. 
In mid- July 2015, the total banks' branches reached 3,838 with the population of seven thousand two hundred and six per branch. The present development of financial institutions in Nepal is reflected in the table below

Additional Notes:
  • Nepal Bank Ltd. (1994 Kartik 30) is the first commercial bank of Nepal with the joint ownership of government and general public (with the cooperation of Imperial Bank of India). 
  • Nepal Rastra Bank was established in 2013 Baishak 14 as a Central Bank of Nepal.
  • Rastriya Banijya Bank, a commercial bank under the ownership of Government Nepal was established in 2022 Magh 22
  • The first joint venture of the foreign bank in Nepal is Nabil Bank (Nepal Arab Bank) 2040 BS.
  • First Bank to introduce ATM in Nepal is Everest Bank Limited.
  • First Bank to introduce Credit Card in Nepal is Himalayan Bank Limited.
  • First Bank to introduce Multi-Currency Card Service in Nepal is Century Commercial Bank.
  • Himalayan Bank is the first Bank to introduce Tele-Banking (Telephone Banking) in Nepal.
  • Kumari Bank is the first Bank to introduce e-Banking (Internet Banking) in Nepal.
  • Laxmi Bank is the first Bank to introduce SMS Banking (Mobile Banking) in Nepal.
  • First Governor of NRB is Mr. Himalayan Samser JBR (2013 Baishak 13 to 2017 Magh 25)
  • First Modern Bank in the world is Bank of Venice.
  • Maximum number of Shareholders to form Private Company is 7.
  • According to NRB, Unified Directives Loan Loss Provisioning is: For Good Loan (up to 3 months) is 1%, For Substandard Loan (3 month to 6 months) is 25%, For Doubtful Loan (6 to 12 months) is 50%. For Bad Loan (12 months and above) is 100%
  • First Development Bank of Nepal is NIDC.
  • Deposit is a component of the liability side of the Commercial Bank.
  • Monetary Policy formulates in Nepal by Nepal Rastra Bank.

Introduction of Paper Note in Nepal

  • Rs. 5, Rs.10 and Rs. 100 in Aswin 2002 by Sadar Muluki Khana
  • Rs. 2 in Aswin 2009 by Sadar Muluki Khana
  • Rs.1 Rs.5 Rs.10 Rs. 100 in 7 Falgun 2016 by NRB
  • Rs. 1000 in 14 Baishak 2026
  • Rs. 500 in 30 Jesth 2027
  • Rs. 50 in 14 Baishak 2034
  • Rs. 2 in 14 Baishak 2038
  • Rs. 20 in 22 Kartik 2039 
  • Rs. 250 in 28 Chaitra 2052
  • Rs. 25 in 29 Chaitra 2052
  • Polymer Note Rs. 10 in 14 Aswin 2059

Important Notes: 

  • SBA, SAF, ESAF, PRGF, RCF are related to IMF.
  • The latest Industrial Policy of Nepal is 2067.
  • Nepal is the 147th member of WTO.
  • Millennium Development Goals (MDGs) is the designation of United Nations.
  • IMF was established in 1945.
Keywords: Commercial Banks in Nepal, Development Banks in Nepal, Financial Institutions, Paper Notes

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Hi, I’m Chakra, the man behind GITAB | Knowledge Hub, from Lumbini (Born place of Lord Buddha) Nepal. I am a student of Microbiology. Feel free to say hello via Fb, Twitter & Chakra's Blog.

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