May 18: Sakchyam Access to Finance, a project run by Department for International Development (DFID), has supported 14 Commercial Banks to establish 57 new branches in some of the most remote locations of Karnali Province, Province No 5 and 7.

Sakchyam Access to Finance said in a statement that it signed an agreement in this regard with the banks amid a function in Kathmandu on May 17.

Governor of Nepal Rastra Bank (NRB) Dr Chiranjibi Nepal was the chief guest for the event which also saw the presence of Uttar Kumar Khatri, joint secretary at the Ministry of Finance (MoF), Chinta Mani Shiwakoti, deputy governor of NRB, Gyanendra Dhungana, president of Nepal Bankers’ Association (NBA), Baljit Vohra, team leader of Sakchyam along with other senior officials from MoF, NRB and Sakchyam. CEOs and senior officials of the 14 commercial banks were also present during the event. 

A stakeholders’ discussion on “Banking in the New Federal Structure: Challenges and Way Forward” also took place during the event.