March 26: National Banking Institute (NBI) has signed an agreement with NMB Bank Limited to promote financial literacy program to reach out to the larger masses through the bank’s network spread across the country and NBI App, a recently developed financial literacy application. Sanjib Subba, chief executive officer of NBI, and Sunil KC, chief executive officer of NMB Bank Limited signed the agreement on behalf of their respective organisations amid a function on Monday, March 25.

In line with the MoU signed, NBI said it will provide all the information about NBI App in regards to its structure and features to the designated staff members of NMB. The bank shall educate its entire staff and disseminate information about NBI App to their customers to support the financial literacy awareness program and spread further at a greater pace than would have been possible, reads a statement issued by NBI.

“Further, the bank shall use NBI App to facilitate execution of financial literacy program to women’s group, farmers, families dependent on inward remittance for livelihood and students. If required, NBI shall manage all the logistics of the bank's financial literacy awareness program at a nominal amount,” the statement added.

This association to promote financial literacy awareness is expected to create synergy in raising awareness about the importance of savings and channelizing of savings towards entrepreneurial activities, the statement said.