In the financial year 2080/81, 13 banks and financial institutions of Nepal have provided loans worth almost 3 billion rupees (2.98 billion) through digital means. According to the report on 'Major Works and Achievements from 2077 to 2081' issued by Nepal Rastra Bank, there has been a significant increase in access to credit with the expansion of the digital lending system.
Through the maximum use of information technology, "Guidelines for Electronic Lending (Digital Lending), 2078" were issued to provide loans to customers in a fast, efficient and transparent manner. According to this guidance, currently 13 banks and financial institutions are conducting the entire process from loan application to loan recovery using digital technology.
The National Bank has stated that the aim of providing loans through digital lending is to provide simple and convenient services to the customers as well as to increase the attraction towards the formal loan system. In addition, the bank believes that this will increase financial access, reduce credit costs and effectively address the customer's credit needs. According to the
guidelines, customers with salary accounts can take digital loans up to a maximum of 5 lakhs and others up to 3 lakhs . The term of this loan is maximum three years and the option to pay in installments or lump sum is given. The guidance also mentions the provision that banks and financial institutions can appoint payment service providers as agents for the facilitation of digital loans.
Meanwhile, the National Bank's report mentions that financial inclusion has also had a positive impact due to the increasing access of the general public to electronic payment infrastructure and equipment. "Compared to 2077/78, the number of electronic payment transactions has doubled in 2080/81 and the payment amount has almost doubled," the report said, "Even in international payments, payments can be made through electronic means."
