KATHMANDU, Feb 2: Nepal has witnessed a significant improvement in financial service in terms of access, use and quality.
A Financial Inclusion Index released by Nepal Rastra Bank (NRB) on Sunday, showed that Nepal's financial inclusion index rose from 0.47 to 0.53 in the fiscal year, 2024/25.
Nepal Financial Inclusion Portal launched
The report has mentioned people's rising access to finance, use of digital medium and enhancement of quality service. These have contributed to a stable and broader improvement in financial inclusion.
The index was prepared by following the methods like that of the Human Development Index. Setting the notches from 0 to 1, higher the index, higher the financial inclusion. Total 55 indicators were set under three broad categories of access, use and quality.
As per the latest report, the access index is at 0.53, indicating expansion of banking and financial institutions and the rise of digital transactions. Similarly, the use stands at 0.54, while quality at 0.50.
NRB's policy initiatives, adoption of digital financial innovation and proper oversight have been credited to the improvement in the index, the report argued.
