Government Achieves Full Banking Coverage: Everest Bank Opens Branch in Bajhang's Saipal

Kathmandu: The government has successfully reached its milestone of expanding banking services to all 753 local levels after six years of effort. Everest Bank's newly opened branch in Saipal, Bajhang, marks the final step in achieving nationwide banking access.

The goal, first set in 2016 (2073 BS) under the federal structure, aimed to provide banking services to all local levels. In 2017 (2074 BS), Nepal Rastra Bank directed commercial banks to expand branches to every local level by the fiscal year-end.

Despite the commitment, banks faced delays due to the lack of essential infrastructure, such as roads, electricity, and internet, in many areas. These delays, particularly in remote locations, made it difficult to meet the original deadline.

By the end of fiscal year 2080 (2023), banking services had reached 752 local levels. Saipal, Bajhang, one of the most remote regions in the country, was the last remaining local level without a bank branch. Everest Bank stepped in to fulfill this gap, making the final expansion.

This expansion officially concludes the government's mission to bring banking services to every corner of the country.