Banking Exam Question - What are the NRB Directives for Provision of Opening Branchless Banking in Nepal? Explain

Introduction - Branchless Banking

A branchless banking is a bank without any branch network that offers its services remotely via online banking and telephone banking and may also provide access via ATMs, mail and mobile. Branchless Banking (BLB) represents a significantly cheaper alternative to conventional branch-based banking that allows financial institutions and other commercial actors to offer financial services outside traditional bank premises by using delivery channels like retail agents, mobile phone etc. BLB can be used to increase the access of financial services to the un-banked communities. 

Elements of Branchless Banking (BLB)

• Use of technology, for example, installment cards to distinguish clients and record exchanges electronically 
• Use of (exclusive or nonexclusive) third-party outlets, for example, post workplaces and little retailers, that go about as operators for money related administrations suppliers and that empower clients to perform capacities that require their physical nearness, for example, money dealing with and client due persistence for account opening 
• Offer of at any rate essential trade store and withdrawal out expansion to value-based or installment administrations 
• Backing of a government-recognized, store taking establishment, for example, a formally authorized bank 
• Structuring of the above so that customers can utilize these keeping money benefits all the time (accessible amid ordinary business hours) and without expecting to go to bank offices by any means, if that what they pick