NRB governor stresses on financial literacy

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Nepal Rastra Bank (NRB) governor Maha Prasad Adhikari has said with a surge in the use of technology, it has been necessary to make people aware of financial literacy.

Launching the Financial Literacy Television Programme to be broadcast by the Nepal Television at 7:25 pm each Friday, the NRB governor said the use of digital payment (via computer and mobile) has proliferated in the recent time and in this situation the citizens should be aware of financial literacy for the safe use of such facility.

With the development of technology, banks and financial institutions have launched new digital facilities and the financial facility is a tool to make the mass aware of features of such services, according to the NRB governor.

As he said, the NRB has prepared and implemented new guidelines for promoting financial literacy.

Federation of Nepalese Chambers of Commerce and Industry, Chandra Prasad Dhakal, also spoke on the need of making citizens aware of financial literacy. “The rise in revenue inflow and in the arrival of foreign tourists, and a reduced bank interest rates are positive aspects of the economy,” he said.

Nepal Bankers Association chair Sunil KC said the rise in financial literacy would obviously be of help in the development of banks and the industrial sector. As he said, banking and the financial sector pay revenue of Rs 40 billion to the government each year and they provide jobs to 100 thousand people.