• Wed. Aug 3rd, 2022

Mobile banking users on the rise – Khabarhub Khabarhub

Mobile banking users on the rise

Image for representation.

KATHMANDU: The widespread spread of the coronavirus in 2020 has caused a drastic change in people’s way of life. This has not only confined people of the world to their homes, but also forced people to update themselves with new technology.

According to data released by Nepal Rastra Bank, there were 159,441,535 mobile banking users till mid-December.

Mobile banking, which was not gaining momentum in Nepal despite frequent requests from banks and financial institutions, has become a constraint for everyone in the country.

The closure of banks and financial institutions and the fear of spreading the coronavirus have forced people to look for other ways to transact.

There are 159.41 million mobile banking users in Nepal.

In mid-November, there were 15.43 million mobile banking users 379. Compared to this, the number of mobile banking users increased by 500,000 in mid-December.

Lately, mobile banking has taken a leap forward in digital business. In December, 88.53 billion transactions were carried out via mobile banking. During this period, 13 million 54,000,684 transactions were made through mobile banking.

The transaction amount was also higher in December than in November. The turnover was Rs 78.15 billion over a period of one month from mid-October to mid-November. During this period, 12.6 million 15 thousand 637 transactions were carried out.