A recent report revealed that Nepal's 43 per cent population has access to banking services. This figure is based on the number of deposit accounts in commercial banks, development banks and finance companies compared to the population size. The figure may increase further if the deposit accounts with cooperatives, micro-finance and other financial intermediates are taken into account. In 2006, only 26 percent population had access to banking services.
The number of deposit accounts in A, B and C class banks and financial institutions (BFIs) stands at 11.40 million, according to the Nepal Rastra Bank (NRB). The number is 43 percent of the total population of 26.49 million as per Census 2012.
As the number of branches of A, B and C class financial institutions has reached 2469 (Mid-August), number of people opt for formal financial channel to economic transactions. The central bank has been encouraging BFIs to reach non-banked areas by issuing a directive which says banks can open their branch in the Kathmandu valley only after opening three branches outside the Kathmandu valley.
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