10 facts you should know about Bank and banking in Nepal!

1) Bank of Venice is consider as first bank in the world, established in 1157 AD in Italy. But the first established central bank in the world is Bank of England established on 1694AD.

2) In Nepal although Tejjarath Adaa (1933BS) and Taskar adaa (1989 BS) were providing banking facility to public, Nepal Bank Ltd (1994 kartik 30) is considered as first bank of Nepal.

3) Nepal Rastra Bank(NRB) is the central bank of Nepal established on BS 2013 baisakh 14.

4) According to BFIA Act 2063 article 47: Bank and finacial institution are those who do accept deposite with or without interest, make payment on those deposite and provide credit facilities as per the NRB guidelines.

5) largest commercial bank with reference to branches and paid up capital is Agriculture Development Bank.

6) According to NRB unified directive there are four category of loan those are: (A) Pass Loan ( Non overdue and overdue within 3 months). (B) Substandard Loan ( Overdue 3 – 6 months). (C) Doubtful Loan (Overdue 6 months to 1 year). (D) Loss Loan ( Overdue  more than 1 year)

7) As off 2073 Asad there are 29 commercial Bank (Grade A), 71 development bank ( Grade B), 46 finance company(Grade C) and 41 microfinance institution (Grade D) in Nepal.

8) Investment in world bank by Nepal is 0.05%.

9) Bank of the year – 2016: Global IME
Bank ; 2015: Standard Chartered Bank.

10) As per the recent monetary policy published by NRB, CRR is 6%, 5%, 4% for commercial bank, development bank and finance company respectively. Like wise SLR is 12%, 9%, 8% for Commercial Bank, development bank and finance company. Bank rate is 8% spread rate is 5%.