Number of Mobile Banking Users in Kathmandu Increases by 368,764 in Chaitra
Kathmandu, Nepal - The number of mobile banking users in Kathmandu has increased by 368,764 in Chaitra compared to the previous month, according to Nepal Rastra Bank. By the end of Falgun, there were 2 crore 65 lakh 267 mobile banking users, but by the end of Falgun, this number had risen to 2 crore 4 lakh 34 thousand and 31.
The increase in mobile banking users is being attributed to the convenience and ease of use of the service. Mobile banking allows users to perform a variety of financial transactions, such as transferring money, paying bills, and checking account balances, from their mobile phones. The service is also relatively inexpensive, with most banks charging a flat fee for each transaction.
The rise in mobile banking usage is a positive development for the financial sector in Nepal. It is helping to make financial services more accessible to people in rural and remote areas, who may not have access to traditional banking services. Mobile banking is also helping to promote financial inclusion, as it is making it easier for people to save and invest their money.
The Nepal government is also encouraging the use of mobile banking. In 2018, the government launched a campaign called "Digital Nepal" with the aim of making Nepal a cashless society by 2025. The campaign is promoting the use of digital payments, such as mobile banking, in order to reduce the use of cash and improve efficiency in the economy.
The increase in mobile banking usage is a sign of the growing popularity of digital payments in Nepal. As the country continues to develop, it is likely that the use of mobile banking will continue to grow.
Published by Nepal Rastra Bank on 2080-1-31
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