'Open Bank Account' achievable

Kathmandu, Apr. 14: Commercial banks have said that the national campaign ‘Open Bank Account’ was achievable if the government offered incentives to them.

Speaking at the ‘Gorkhapatra Dialogue’ organised by the Gorkhapatra Corporation on Sunday, bankers expressed solidarity with the new drive saying that it will benefit all three stakeholders – government, banks and people.

Chief Executive Officer of Rastriya Banijya Bank Kiran Kumar Shrestha said that with the announcement of the national campaign ‘Open Bank Account’, the government had started to walk with the private sector banks which had increased trust between them.

However, he said that the government should provide incentives such as discount in tax and capital adequacy in order to motivate them to go to the rural areas.

“It is difficult to keep human resources there, operation cost is high and there are problems in networking and security. Therefore, If security and incentives are provided, we are ready even to provide mobile banking services to the remote villages,” he said.

He also suggested promoting access to the BFIs, support of the local bodies and greater digitalisation to make the campaign a successful one.

Chairman of Mega Bank Bhoj Bahadur Shah said that the campaign would help bring financial transactions in to the banking system.

However, he maintained that openning bank accounts of all Nepali citizens by the banks alone was not possible, and the government should also facilitate banks in opening accounts by motivating people into the campaign.

“To attract people to the banking transactions, the government authorities should first be ready to accept banking instruments, including cheque in its transaction and gradually should promote the cashless transaction,” he said.

Similarly, Chairman of Janata Bank Keshav Raj Rayamajhi said that the government decision to involve private banks in the campaign had exited them.

He suggested encouraging cashless economic transactions and promoting banking transactions in every business and economic activity to meet the targets of the campaign.

“The government offices should be ready to receive cheque, not cash. This will motivate people to use the banking channel,” he said.

However, he warned that opening account alone would not work if people did not use the bank account.

According to him, about 30, 000 bank accounts which were opened earlier are now in dormant in Rasuwa district. The local levels must encourage and motivate the citizens for the use of cheque for transaction.

Published in The Rising Nepal daily on 15 April 2019.