‘Only 40 percent population has access to finance’

Only 40 percent country’s population have access to financial services.According to Information Officer at Nepal Rastra Bank (NRB) Shambhunath Dhungana, financial literacy has been limited to 18 percent across the nation as most of the financial institutions are centered on urban areas.
Similarly, Director of Insurance Board Raju Raman Poudel, on the occasion, said that although the insurance companies have a vital role to reduce risk at financial and non-financial sectors, homework is on to introduce ‘One house, one insurance’ policy to expand general people’s financial access.
According to President of Development Bankers’ Association of Nepal, Bharat Raj Dhakal, there is the economic depression in rural areas as the ratio of consumption is higher than production.
Likewise, Chief Executive Officer of Reliance Life Insurance, Pravin Raman Parajuli, and Chief Executive Officer of Prabhu Bank, Ashok Sherchan, pointed out the need of creating public awareness regarding saving and investment, saying financial activities like collection of capital issuing loan make country’s economy movable.
On the occasion, it is shared that ‘Banking Expo’ is going to be organized on February 2 and 3.