March 25: Janata Bank and UKAID Sakchyam-Access to finance have signed an agreement to provide branchless banking services to rural area of Dang, Kailali, Acham and Darchula. Kumar Lamsal, CEO of Janata Bank and Baljit Bohara, team leader of Sakchyam signed the agreement on behalf of their respective organization.

“Access to finance is now recognised as a human right throughout the world but only 50% youth have access to banking globally,” noted Chintamani Shivakoti, Deputy Governor of Nepal Rastra Bank, who was the chief guest in the program. He added that the branchless banking has proved a great help in Nepal in providing access to finance and this can also assist the government to achieve the target of ‘one home one bank account’ as declared the budget speech for the current fiscal year.  

Uday Nepali Shrestha, Chairman of Janata Bank , who is also an MP, viewed that these programs ease access to finance to rural community of Nepal. “Presently, we are providing financial services at Darchula and Gokuleshwor in Darchula district. With this agreement, we will further expand our presence also in other areas of the region,” he said. 

As per the agreement, Janata Bank will provide branchless banking services from 50 locations within next three years. Bank also targets to open 75 such locations in the subsequent two-year time beyond the agreement period. NRB data shows at present there are 500 locations in the country where the banks are providing branchless banking services. Meanwhile, the number of users of mobile banking service has crossed 913 thousand.