68 percent deposit and 55 percent credit only in Bagmati
KATHMANDU, APRIL 9: Promoting fiscal decentralisation in line with the adoption of federalism is a prime goal of the state. However, there clearly seems a gross lack of adequate efforts to achieve the same. This is revealed by a study report on the economic activities of the first six months of the current fiscal year released by the Nepal Rastra Bank.
According to the report, 68 percent of the total deposit and 55 percent of the total credit of Banks and Financial Institutions (BFIs) are concentrated only in the Bagmari Province.
According to the study report, till the last Nepali month of Poush (December 17 2022 to January 14, 2023), they collected despositing amounting to Rs 3 trillion 709 billion 580 million, up by 10 percent compared to the same period last year.
Similarly, during the review period this year, such institutions floated credit worth Rs 2 trillion 678 billion 800 million which is 3 percent more compared to the corresponding period last year.
There is a total of 3,025 branches of BFIs in the province. Of them, commercial banks account for 1810 branch offices, development banks 330, finance companies 108, and microfinance institutes 108.
In the Bagmari province, the Kathmandu district has the highest number of branches at 1184, while, at 50, the Rasuwa district has the lowest.
