Banking History of Nepal

 The banking history of Nepal dates back to early 20th century. The first commercial bank, Nepal Bank Limited, was established in 1937 with support from the British government. After the establishment of Nepal Rastra Bank (NRB) in 1956, the central bank of Nepal, the banking sector in Nepal grew at a faster pace.

In 1966, Rastriya Banijya Bank, a government-owned commercial bank, was established with the aim of providing banking services to rural areas. In the following decades, several other commercial banks were established, including Nepal Investment Bank, Everest Bank, Standard Chartered Bank, and Nepal SBI Bank, among others.

In the 1990s, the Nepalese government introduced various reforms in the financial sector, including the liberalization of the sector and the establishment of Nepal Stock Exchange to promote investment in the country. In recent years, the banking sector in Nepal has grown significantly with the establishment of several new banks and financial institutions.

Today, the banking sector in Nepal comprises of various commercial banks, development banks, finance companies, and microfinance institutions. The sector is regulated by the Nepal Rastra Bank and plays a significant role in the country's economy.