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Number of Deposit Accounts Exceeds Total Population of Nepal

NRB Study Shows there are 36.3 Million Deposit Accounts in Nepal

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Number of Deposit Accounts Exceeds Total Population of Nepal
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August 22: The number of deposit accounts in Nepal is more than the total population of Nepal. However, the financial access of Nepalis is just 67.34 percent, according to a study conducted by Nepal Rastra Bank (NRB).

A report prepared by NRB shows that there are currently 36.3 million deposit accounts in Nepal.  The study conducted by NRB on the status of financial access in Nepal showed there were 36.3 million deposit accounts in Nepal as of mid-June 2020.    

According to the report, the financial access of Nepalis has expanded to 67.34 per cent with people having at least one deposit account.    
Among the total deposit accounts, 67.7 per cent are active while the remaining ones are dormant. Similarly, out of the total deposit accounts, saving accounts constitute 90.6 per cent.    
Among the total 753 local levels, people in 750 local units have financial access through commercial banks. Dhading district’s Rubi Valley, Jajarkot’s Junichande and Bajhang’s Saipal have no commercial bank, according to the report.     
Among those having access to banking service in the country, the number of mobile banking users stands at 32 per cent, the report further states.

The report further states that there are altogether 5,978 banks and financial institutions (BFIs) of various classes (A, B and C) in Nepal.    

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