Interesting facts about banking history of Nepal

Interesting facts about banking history of Nepal

Nepali banking sector are grooming and they are introducing advance technologies in Nepal. In an ancient time Nepalese bank are working in traditional way. Nepal Bank Ltd was the first bank in Nepal which was established in Kartik 30, 1994(November 15, 1937). Establishment of Nepal Bank Ltd was the milestone of modern banking in Nepal.  Nepal used to believe in barter system and Sahu Mahajan used to provide banking services (deposit and loan) and it was not systematic service and people were exploited by those Sahu Mahajan’s and they also used to change loan deed amount ( Rs.20,000.00) instead of Rs.2,000.00.  Nepal Bank Ltd has to play the role of central bank and operate the function of central bank as Nepal Rastra Bank (Central Bank of Nepal) was established in 1956 AD after some 19 years.  A sound banking system is important for smooth development of banking system and traditional bank was much dependent on human resource and now a days Nepalese banking are using modern technologies and todays banking is not all about deposit and loan now modern banking are providing much more facilities like ATM, E- Banking, SMS Banking, Utility bill payment, interbank and intra bank transaction.

Today we are going to provide some interesting facts about banking history

• Nepal Bank Ltd is the first bank of Nepal
• Nabil Bank Ltd is the first private commercial bank of Nepal( Nepal Arab Bank) established on July 12, 1984
• Nabil Bank Ltd is the first bank to introduce credit card in Nepal during 1990
• Himalayan Bank Ltd is the first bank to introduce ATM in 1995
• Himalayan Samsher Jung Bahadur Rana is the first governor of Nepal Rastra Bank
• Maha Prasad Adhikari is the 17^th governor of Nepal Rastra Bank.( Current governor)
• Kumari Bank Ltd is the first bank to introduce Internet Banking in Nepal during 2002
• Laxmi Bank Ltd is the first bank to introduce Mobile Banking in Nepal during 2004             
• Everest Bank Ltd is the first bank to install ATM Machine at Tribhuwan International Airport
• There are 27 commercial bank in Nepal
• Everest Bank Ltd is the first bank to introduce ABBS
• Century commercial Bank Ltd is the first bank in Nepal to introduce multi-currency  card
• Nabil Bank Ltd is the first bank to introduce viber banking in Nepal
• Global IME Bank is the first bank to introduce QR code in Nepal
• Electronic Cheque Clearing(ECC) started on December 28, 2011
• Inter Bank Payment System(IPS) started Bhadra 1, 2073
• First merger in banking history was between Laxmi Bank Ltd and Hisef Finance Ltd in 2004
• Nabil Bank Ltd and Bangladesh Bank Ltd are the latest big merger in Nepali Banking.
• Rajinama clause  = 1 year 35 days
• Bakaspatra clause = 2 year 35 days