Karnali Province the most overlooked even by commercial banks; licences of 118 BFIs revoked till Chaitra end

The data released by Nepal Rastra Bank has shown that 271 local units of the country are still out of the reach of commercial banks as the 28 commercial banks have so far established their branches to 424 local units out of 753 local units by the end of Chaitra, 2074.

As per the central bank, the situation is worst at Karnali Province where only 30 local units have seen commercial banks out of 79 such local units leaving a big portion of them still waiting desperately for the banks at their doorsteps. On the other hand, Province 1 seems to be in slightly comfortable position where there are more number of commercial banks in 82 local units.

In addition, the apex bank has also informed that it has diluted the licence of 118 BFIs till the end of Chaitra 2074 as 158 BFIs had undergone the process of merger/acquisition during the review period thereby reducing the number to 40 institutions.