Kathmandu, 10 March, 2015 :Â Mega Bank Limited in partnership with Sakchyam access to Finance Programme rolled out Megha Arthik Sakchyam project with introduction of TAB banking today.
The Bank, which has the vision to be ‘Banker of every Nepali from Plough to Power – Halo to Hydro’ and with the support of Sakchyam access to finance programmee has launched the unique and affordable product—’Tab banking’ along with the establishment of four new branches and 30 new BLB and Tablet Banking Agents in the Mid and far western regions in the country. The programme will cover six districts-Achham, Baitadi, Dadeldhura, Dang, Kailali and Salyan.
The tablet has the added advantage of being used for financial literacy purposes as well.
In a press release informing about the programme here today, Mega Bank states that while poverty levels have fallen since the end of the conflict in Nepal in 2006, they remain particularly high in Nepal’s rural west where the poverty incidence is as high as 45.6 per cent compared to the national average of 25.16 per cent. These high poverty rates are closely associated with lack of economic opportunities for the poor. One reason for this is low level of financial access in rural areas which is limited by high delivery costs and risks.
Sakchyam focuses on the constraints faced by formal and semi-formal financial institutions (e.g. banks, MFIs and cooperatives) in expanding the reach of financial services. By filling this gap in the sector, it directly increases SMEs’ and poor households’ access to financial services in underserved regions, increasing private sector activity and the rate of poverty reduction in Nepal.
On the occasion, Anil Shah, Chief Executive Officer, Mega Bank Nepal Limited said, “The signing of this agreement is a milestone towards the delivery of pour vision to be Banker of every Nepali from Halo to Hydro. We are excited to enhance our footprint in far western Nepal through its implementation.”
Talking about Sakchyam’s partnership with Mega Bank, Sakchyam Access to Finance Prioogramme, Team Leader, Mr Baljit Vohra said, “Through this partnership, we are now moving quickly to rollout micro-banking products and services using innovative delivery channels that will bring banking a step closer to the rural communities.”
The Sakchyam Access to Finance Programme is an initiative funded with UK aid from the British Government as part of the bilateral agreement between the Governments of Nepal and the UK. It is implemented by Louis Berger for the Department of International Development (DFID Nepal) in partnership with local and international institutions.
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