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Enhancing E-Banking Skills in Nepal: Challenges and Solutions

Learn about the formation of skilled users in E-banking in Nepal, historical overview, ways of E-banking, policy provisions, challenges, and proposed solutions for promoting digital literacy and financial awareness.

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Enhancing E-Banking Skills in Nepal: Challenges and Solutions

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  1. Formation of skilled users in E-banking Group – 5 Bikash Thapa, BishwasRegmi, Nikita Shrestha, Niraj Shrestha, Surendra tiwari

  2. Introduction • E-banking is a service provided by a Bank or other financial institutions that allows its customers to conduct financial transaction/services through internet. • E-banking has changed the traditional banking method.

  3. Ways of e-banking • Automated Teller Machines (ATM) • Point of Sales (PoS) • Telephone Banking (Tele Banking) • Internet Banking • Mobile Banking (SMS Banking) • Smart Cards

  4. History • NABIL was the first bank to start Credit Card in early 1990( JV). • Himalayan Bank introduced Automated Teller machine (ATM) in 1995 and tele banking which Started from 1997. • Kumari Bank first introduced SMS banking in 2002 and Internet banking was first introduced by Laxmi bank in 2004.

  5. Total Number of BFIs in Nepal • Commercial Banks 28 • Development Banks 33 • Finance Companies 24 • Micro Credits 57 Total157

  6. NUMBER OF BANK ACCOUNTS IN THE COUNTRY • Class A 20978261 • Class B 4127818 • Class C 552308 Total 25658387 *as of Push 2075

  7. Policy Provision 1. Directives no. 20/075 : About Electronic Banking Services. Branchless Banking : Terms, Conditions, Minimum Requirements, Contract between Bank and Customers, Reporting 2. Directives no. 21/075 : Provision related to Protection of Financial Customer and Financial Literacy - Should give information about accounts, Fees, Procedure, Procedure on different kinds of electronic Cards………

  8. 3Directives no. 5/075 : Limit on Electronic Transactions Prepaid Card : 1 lakh (Nepal 25 Thousand-Day, 50 Thousand – Month) David Card: 25 Thousand- Per Transaction, 1 lakh-Day Mobile Banking : 5000- Per Transaction, 15 Thousand- Day, 50 Thousand- Month Internet Banking : 1 Lakh - Day, 10 Lakh- Month E- Wallet : 5000- Per Transaction, 15 Thousand- Day, 25 Thousand- Month

  9. Number of mobile banking customer in Nepal

  10. Number of internet banking customer in nepal

  11. Internet users in Nepal

  12. Who IS left OUT ? • Out of total, 71.74% person people having bank accounts still don’t take e banking service. • Out of total, 53.26% person using broadband internet don’t use e banking.

  13. Challenges - skilled users in E-Banking

  14. solutionS • Digital Literacy • ICT awareness Campaigns • Financial Literacy • Policy Amendment • Simple and easily usable UI • Academic Syllabus reformation

  15. outcomes • Paperless Operation • Cashless Transaction • Minimizing operation cost • Time saving • Quality in Service

  16. email us on bishwasregmi51@gmail.com nirajshrestha315@gmail.com nikshres522@gmail.com lex.suren@gmail.com advocatebikashthapa@gmail.com

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