V.No. After the political change of 2046, an encouraging situation was created in the banking sector due to the effect of economic liberalization adopted by the government. The government's goal was that the loans provided by banks and financial institutions would establish small and large industries and not only generate revenue for the country, but also create jobs.

The government was operating the Rashtriya Banijya Bank and the semi-government Nepal Bank Limited under its full ownership. In the absence of competition among banks, the government had initiated the policy of economic liberalization. Accordingly, after the political change of 2046, by November 2051, 9 commercial banks were operational. At that time, investors were of the opinion that banks should compete without government intervention.

After economic liberalization, four commercial banks were added in Nepal in the last four years till October 2051. Everest Bank, which came into operation on November 2, 2051, was the ninth commercial bank in Nepal. Which bank also had Indian investment . While inaugurating Everest Bank, Governor of Nepal Rastra Bank Harishankar Tripathi also informed that four more financial institutions and two commercial banks will be operational within a month.

He said, "Before the liberalization policy came, investors were not attracted even though they could open a bank with a capital of 60 million. During the last four years, according to the policy implemented in the 1950s, 250 million rupees capital has to be shown, but investors are preparing to open a bank in competition.

United Bank of India had 20 percent investment and technical support in Everest Bank, which has 12 million issued and paid-up capital of 6 million. Everest's investors included Mitradev Pathak, Krishnaman Sherchan, Kulveer Singh Tuladhar, Nepalkrishna Shrestha, Bhagwanlal Shrestha, Hotel Snow Light and BK Shrestha. 

Everest had launched a plan to open two branches in Kathmandu Valley within a year and distribute 30 percent shares to the general public. Until then, many people appreciated the issue of common people getting shares. Because, like now, there were very few private companies distributing shares to the general public. The subject of all ordinary people getting shares was new for many. 

At that time, Nepal's commercial banks had 54 billion deposits and 42 billion loans. Investors believed that if commercial banks were to be opened, there would be competition in interest and investment. But the National Bank at that time asked it to focus on exports as banking transactions were focused on import trade. 

The then Governor Tripathi was of the opinion that commercial banks should focus on investment in export trade as well . Governor Tripathi was dissatisfied that the banks established in joint investment could not work as expected in the field of capital market, deposit collection and investment.