Financial Survey to Measure Financial Depth in Nepal's Banking and Financial Sector

Nepal Rastra Bank (NRB) is set to conduct a comprehensive financial survey aimed at gauging the financial depth of the nation. The survey will encompass both banks and financial institutions, as well as non-banking financial institutions. This significant announcement was made as part of the monetary policy for the financial year 2080-81.

The financial survey will not only encompass the balance sheets of banks and financial institutions but will also include other non-banking financial entities, such as microfinance financial institutions, insurance companies, citizen investment funds, and employee savings funds. The data collected from the survey will play a crucial role in evaluating the financial depth of the country.

The measurement of financial depth involves calculating the contribution made by banks, financial institutions, and non-banking financial entities to the overall economic growth of the nation. Specifically, the study will focus on analyzing the impact of loans provided to the private sector on economic production.

Recognizing the significance of a robust banking system, NRB emphasized the need to strengthen the management and performance of skilled manpower within the sector. To this end, the banking sector will undergo a study to assess and enhance overall manpower development and management.

The Rastra Bank, in collaboration with organizations like the National Banking Institute, is also planning to prioritize candidates who have completed entrance exams and certification courses for career development to facilitate their entry into the banking service.

The financial survey and subsequent analysis will provide crucial insights into Nepal's financial landscape, helping policymakers and stakeholders make informed decisions to further strengthen the country's economic prospects.