KATHMANDU, Dec 9: A report prepared by Nepal Rastra Bank has pointed out the need for financial access for the economic development of Province-1.
The study report of NRB further showed that financial inclusion should be materialized by expanding financial access and awareness. The availability of financial tools is also imperative. Among 14 districts in Province-1, only Jhapa, Morang and Sunsari district had adequate physical infrastructures, road transport and other facilities.
Banks yet to extend access in three local levels
The facilities concentrated in three districts must be expanded, the report stated, adding that a balanced development of Province is necessary. Bringing in adequate investment is essential irrespective of diverse geography, according to the study.
The NRB study also pointed out the lack of well-managed information and statistics on agriculture, industry, service and infrastructures at the data providing bodies and organizations. Another challenge is the formulation of implementable policy based on credible data and statistics. There are limited capacity and sources of internal investment.
(RSS)
