Banking Exam Question - What is Universal Banking? Describe Concept of Universal Banking in Nepal?

Introduction - Concept of Universal Banking in Nepal

The opening of universal banking business starts after 2004, and is the period of the present. After the time of 2004, the concept of open banking business is applied. The bank and the financial institutions are enforced and all financial institutions are found in the same form. Depending on the ability, the 'A', 'b', 'c' and 'd' are classified as classified. Also, every bank has autonomy and the role of the Nepalese National Bank has been strengthened. During the period 2004-2016, the emphasis on the establishment of private sector banks was given.

Thus, Nepal is found in the long term of banking business. On the present occasion, the number of Commerce Banks in the category has reached 28. The sequence is rising. Establishment of banking and financial institutions is increasing. There has been a number of private sector bars in the city to the rural areas. Increasing operating banking in the paper system is increasingly increasing in the field of technology in the modern banking, ABBS, E-banking, Mobile banking, ATM etc. Remittance, Fax, Draft etc. is increasing the trend. So, in the present time, the development of banking sector has been transformed into a new dimension.