Introduce the Bank and Briefly Discuss the Developments in the Banking Sector in the Coming Days will be discussed here in details. Keep reading till the end to know in comprehensive about this topic.
Introduce the Bank :
A bank is a financial institution that accepts deposits from the public and creates loans. Apart from this, the bank provides other financial services, agency services and modern banking facilities.
Banks and financial institutions in Nepal are divided into A, B, C and D categories. For the regulation and operation of this sector, Banks and Financial Institutions Act 2073 and Nepal Rastra Bank has been established for institutional management.
Although the development of the banking sector of Nepal predates the Rana period, the formal banking history started after the establishment of Nepal Bank Limited in 1994 BS.
Development in the Banking Sector in the Coming Days :
The following developments may occur in the coming days.
- Automated banking service flow – high level IT can be used,
- Corporate governance – maintaining good governance through regulatory capacity building,
- Entry of Foreign Bank – Policy and Structural Reforms to Increase Competition,
- Debt flow prioritization credit flow to increase productivity and productivity,
- Mergers and acquisitions – reduce the number of banks and increase capacity,
- Effective regulation – drastic improvement in the regulatory capacity of NRB,
Conclusion :
Nepal’s development is not far from the world’s banking development. Changes in capital, technology and methods of service have led to rapid development of this sector. The development of this sector has contributed to sustainable development.
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