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While access to savings accounts has become widespread among the general public in Nepal’s banks and financial institutions, access to credit remains significantly lower. 

A latest study of the Nepal Rastra Bank (NRB) shows banks and financial institutions (BFIs) have 51.17m deposit accounts, while the number of credit accounts is significantly lower at around 1.84m. This shows that 71.83 percent of the population remains outside the banking system for credit transactions. A survey on the financial literacy situation conducted by the central bank reveals that while 46.34 percent of adults use loans, only 17.6 percent utilize bank loans. The survey reveals significant variations in the usage of different financial services among the adult population. The highest utilization is in savings, investment, or retirement instruments, with 86.64 percent of adults using these services.

Payment instruments follow closely, used by 73.78 percent of the population. However, other financial services have lower adoption rates. Credit instruments are used by 46.34 percent of adults, while insurance services have the lowest penetration at just 30.02 percent.  Similar survey conducted in 2021 showed that 67.3 percent of the population had an account with a bank or financial institution. The central bank last week unveiled its Financial Inclusion Policy, 2024 to promote financial inclusion through expanded financial services, enhanced literacy and consumer protection. The policy prioritizes extending financial access, boosting entrepreneurship, promoting financial literacy, protecting consumer interests and data collection. 

Among others, the policy aims at presenting a draft National Financial Inclusion Strategy to the government this year, incorporating its objectives into monetary policies and budgets and issuing directives to support institutions in its implementation. The policy builds on past plans, programs and practices, focusing on inclusive financial access, digital innovation, gender and eco-friendly banking, sustainable financial system development, infrastructure development, regulatory roles, partnerships and accountability. Likewise, it aims to promote micro, small, and medium enterprises/businesses by developing entrepreneurship, developing business capacity, developing infrastructure and technology, creating an investment-friendly environment and providing appropriate types of loans and low interest rates. Similarly, making services from various agencies technology-friendly to increase the access of target customers to the banking system and encouraging micro, small and medium-level industries, trade  and businesses by simplifying processes is the other objective of the policy.

Furthermore, the policy aims to make services from various agencies more digitally accessible thereby widening the banking system's reach to targeted demographics. 

Commercial banks are present in all 753 local units across the country, except in Saipal of Bajhang, with the total branch network reaching 11,589. Likewise, there are 18.94m digital wallet users, while mobile banking clients number 21.36m, 1.85m use internet banking and ConnectIPS has 1.1m users. Additionally, there are 4,855 ATMs across the country.

The Nepal Stock Exchange (NEPSE) gained 6.22 points to close at 2,085.30 points on Tuesday.

Similarly, the sensitive index surged by 1.95 points to close at 372. 02 points.

A total of 8,305,786-unit shares of 315 companies were traded for Rs 4. 08 billion.

Meanwhile, Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) was the top gainer today, with its price surging by 10. 00 percent. Likewise, Buddha Bhumi Nepal Hydropower Company Limited (BNHC) was the top loser as its price fell by 5.51 percent.

At the end of the day, total market capitalization stood at Rs 3. 30 trillion.

The price of gold has increased by Rs 2, 700 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 142, 700 per tola today. It was traded at Rs 141, 000 per tola on Monday.

Similarly, tejabi gold is being traded at Rs 142, 000 per tola.

Meanwhile, the price of silver has increased by Rs 25 and is being traded at Rs 1,860 per tola today.

In a move to promote menstrual hygiene and create inclusive economic growth opportunities, USAID Nepal and the USAID Water, Sanitation, and Hygiene Partnership and Learning for Sustainability #2 (WASHPaLS#2) Dignified Workplace Program convened around 100 Nepali business leaders to celebrate Menstrual Hygiene Day 2024 in Kathmandu.

The event underscored the commitment of Nepal’s industrial and private sector leaders to fostering menstruation-friendly workplaces, highlighting the positive impact on working women and businesses. This initiative aims to create inclusive economic growth opportunities for all Nepali people.

Two major pledges marked the event: Dignified Workplace Advisory Board members and directors of the Annapurna Media Network, Sachan Thapa and Subha Khanal, committed Rs 1m worth of media spotlight to the Dignified Workplace Program in Nepal. Additionally, Executive Director of Jasmine Hygiene, Punit Sarda, pledged NPR one million worth of sanitary pads to the program.

USAID Nepal Health Office Director Patricia Mengech attended the event and stated, “The United States Government, through the US Agency for International Development (USAID), is proud of our partnership with the private sector to dignify menstruation across the country and improve the sexual and reproductive health of women workers in Nepal. This support is part of a long-standing partnership—dating back over 70 years—between the US Government and Nepal to improve the health care and wellbeing of Nepalis. By helping remove another obstacle to the advancement of women, together we are contributing to our joint responsibility to make sure economic growth is inclusive of the vulnerable, poor, and marginalized populations (which so often include women), and to promote gender equality and inclusion.”

Dignified Workplace Advisory Board member Gaurav Agarwal, Director of Everest Hospitality and Chairman of the Shikhar Insurance Board, expressed his gratitude in a vote of thanks, stating, “A Dignified Workplace where women are respected and taken care of, including their menstrual hygiene needs, is a human right.” Agarwal also thanked the client companies pioneering the Dignified Workplace Program in Nepal, including Kathmandu Marriott, Fairfield by Marriott, Shikhar General Insurance, Hotel Tibet in Lazimpat, The Wonderland, ECOORB, Hulas Remittance, Om Gold House, Sunita Foundation, and Simrik Air.

The event saw the presence of several other distinguished Nepali business leaders, including Tsering Dolkar Lama and Tsewang Sadutshang from Hotel Tibet, Sashikant Agarwal from MS Group and Reliance Spinning, Saurav Jyoti from the Jyoti Group, Ram Sharan Ji Bhandari from Hams Hospital, Shikhar Garg from Om Gold House and The Wonderland, and Sahara Joshi from NYEF, among others.

Menstruation often brings shame, embarrassment, and physical discomfort for women in Nepal and globally. The Dignified Workplace program in Nepal, a two-year incubation action research project by USAID Nepal and USAID WASHPaLS#2, aims to improve menstrual health and hygiene (MHH) and sexual and reproductive health (SRH) for women workers. It supports the local Dignified Workplace Network in Nepal to deliver integrated workplace-based advisory services.

USAID/WASHPaLS #2, a five-year (2021–2026) task order funded by the Bureau for Global Health, identifies and shares best practices for achieving sustainability, scale, and impact of evidence-based environmental health and WASH interventions.