It’s time for digitization, digital literacy is invaluable

‘Financial Digitization Literacy’ has been launched to bring awareness about digital payments through digital media. Governor of Nepal Rastra Bank Maha Prasad Adhikari lunched the program on Sunday. Inaugurating the ‘Financial Digitization Literacy’ organized by Media International and promoted by Nepal Rastra Bank Governor of Nepal Rastra Bank Maha Prasad Adhikari said digital payment has become a big part of the economy in itself.

He said that digitization is one of the importances in Nepal’s economy. He said that Nepal Rastra Bank had a big dream of how to take digitalization forward and hoped that ‘Financial Digitization Literacy’ would be a part of that dream.

Stating that banks and financial institutions should provide services as per the demand of the time, Governor Adhikari said that digital services should be increased in the financial sector. Governor Adhikari said that QR codes are now being used from tea shops to e-rickshaws.

Stating that financial literacy should be taken digitally, he said that it is necessary to do marketing. He said that banks and financial institutions and digital service providers should join hands to advance financial digitization literacy. Governor Adhikari said that the Government of Nepal has brought digital framework forward and this campaign will also help in realized.

Governor also said that the financial sector has moved ahead through the core banking sector while conducting electronic transactions. He said that Nepal Rastra Bank is ready for digitization. Governor Adhikari said that Nepal Rastra Bank was currently preparing monetary policy and urged the entire sector to provide suggestions.

Speaking on the occasion, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Senior Vice President Chandra Prasad Dhakal said that the ‘Financial Digitization Literacy’ program would play an important role in the financial access of the villagers.He said that financial access was not available in some parts of the village in Nepal.

Madhav Nirdosh, coordinator of the Financial Digitization Literacy Program, said that the Financial Digitization Literacy would be implemented at all district and local levels. Last 6 years, Media International has been conducting financial literacy and banking expo programs through the Financial Awareness National Campaign, promoted by Nepal Rastra Bank. Financial Digitization Literacy is a modified program of the same program. The program will be started from the remote district of Bajhang.

Chairperson of Forward Microfinance and former Minister Bhagwati Chaudhary expressed confidence that the ‘Financial Digitization Literacy’ campaign would play an important role in the digitalization sector.
She said that it would be very good to impart financial literacy in the villages through technology.

Pawan Golyan, president of the Confederation of Banks and Financial Institutions, said that advancing financial digitalization would help the rural economy and the agricultural sector.

Speaking on the occasion, Bankers’ Association President Bhuvan Dahal said that it was important to explain the issue of digitization to the customers. He understands that even in this centuary, if you are involved in physical business, you will be a dinosaur. He said that banks should provide services through digital rather than physical services.
Former president of Nepal Bankers Association and president of Navil Bank Upendra Poudyal said that everything should be done to keep financial literacy in school-college levels. He said that the financial literacy introduced through digitalization would take another in the days to come.

Speaking on the occasion, Pradyuman Pokharel, president of the Development Bankers’ Association, said that arrangements could be made not only for customers to open accounts but also to take loans digitally. He made it necessary to move forward by creating a new framework for this.

Chairman of the Microfinance Bankers’ Association, Basanta Lamsal, said that the campaign would play an important role in developing entrepreneurship among the villagers.

Treasurer of the Life Insurance Association, Pravin Raman Parajuli, said that the entire financial sector needs to move forward in the form of digitization.

Similarly, Prabhu Technology Chairman Kusum Lama said that his company has been doing important work for digitalization. He said that there is an urgent need for digitalization in banks and financial services.

Speaking on the occasion, Suman Pokharel, CEO of IME, said that attention should be paid n how to bring financial services to the village as a package. He hoped that digital business would grow through financial digitization.

Acting Chief Executive Officer of SCT Company, Deepesh Maskey, said that access to internet, mobile and access to technology is now at hand.

Speaking on the occasion, Janardan Dev Pant, Chief Executive Officer of Nirdhan Utthan MFI, said that the need for digital has increased due to Covid. The event was attended by heads of various banking, digital systems, and remittance and insurance companies.

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