Kathmandu, Nepal – In a historic milestone, Nepal has achieved full banking coverage across all 753 local levels, ensuring that even the most remote areas now have access to formal banking services. This achievement marks a significant step forward in promoting financial inclusion and economic development, as Saipal Rural Municipality in Bajhang District has just become the latest—and final—locality to receive banking services.

Saipal, located in the rugged, mountainous terrain of the Far Western region, has long been isolated from the country’s financial network. The introduction of banking services in this area represents the commitment of Nepal’s banking sector to reaching underserved populations. With this latest expansion, residents of Saipal and other remote regions now have access to critical financial services, such as deposits, loans, remittances, and digital transactions, paving the way for improved livelihoods and economic opportunities.

The government and the Nepal Rastra Bank (NRB) have spearheaded this initiative, partnering with banks and financial institutions to open branches and extend mobile banking services in remote areas. The project aims to not only provide local access to financial services but also to enhance financial literacy and encourage entrepreneurship, especially in rural communities.

Governor Maha Prasad Adhikari of NRB highlighted this accomplishment as a major step toward achieving financial inclusion and supporting Nepal’s digital economy goals. “By reaching Saipal Rural Municipality, we have ensured that every Nepali citizen has access to the financial system, regardless of their geographic location,” he said.

The banking sector has faced numerous logistical challenges in extending services to remote and mountainous areas. However, through innovation and strong government partnerships, banking services have reached even the most isolated communities. Local leaders in Saipal expressed optimism that banking access will catalyze positive changes in the region, including increased trade, improved remittance services, and financial security for residents.

As Nepal continues its journey toward economic inclusion, the government and financial institutions are optimistic that this landmark achievement will encourage other initiatives that improve connectivity, digital infrastructure, and socio-economic development in rural Nepal.