I am confused about the number of banks and credit union (sahakari) we have. Do we really need these many financial institutions, in compared to developed nations where few big banks, local and state banks operate?
I want to buy a new phone but not sure if I should actually buy it. I can wait for a year an buy a brand new iPhone or get a second hand now. Right now I am using the Redmi Note 10S which I bought in 2021. So compared to this it will be […]
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I dont have my number register with my own citizenship so had to Filled up my form online ird.gov.np ma and the issue is i am not being able to get my OTP code . so when i visited the office they said they cant do anything cause its same procedure for them as well […]
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Due to the death of Subaschandra Nemwang the ilam-2 HoR seat is empty and the by elections are going to be held on Baisakh 15 next year who do you prefer? View Poll View on r/Nepal by folknepalisocialist Tags: prefer, Byelections, Ilam2, wins, Politics/राजनीति Related: 🇳🇵 Nepal – Prime Minister Prachanda Addresses United Nations General […]
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There exists this many banks, because the country requires credit, whilst there are large foreign capital flows into the countries, waiting to be deposited.
This is what happens to every developing economy, and even leads to growth of shadow banking, as the official banks cannot even handle the volume of credits that is required by the economy.
But I do agree that the country needs to desparately rein in its financial sector now, as we are creating a massive credit bubble over land, which will definitely pop in the future, if remittances ever become disrupted or simply decline due to an ageing population.