The investment in the nation's recovering financial sector is part of a wider SME strategy, which aims to help spur a greater range of financial products and services such as psychometric scoring solutions and payment systems reforms.
The credit aims to strengthen financial sector stability, diversify financial solutions, and increase access to financial services in support of Nepal's green, resilient, and inclusive development.
NPCI International, Gateway Payment Service, and Manam Infotech Join Hands to Deploy UPI Solution in Nepal
This collaboration will enable the last-mile consumers in Nepal to reap the benefits of an open interoperable payments system driving immediate payment transfers between bank accounts and merchant payments in real-time.
At a time when the world economy was hard hit by the ongoing pandemic, improvement in Nepal’s remittances inflow has made it easier for the government to operate.
As per revised unified directives, banks and financial institutions can also contribute the fund to protect and treat their employees.
Survey Reveals Extent of the Fallout From the Pandemic on Micro, Small and Medium Enterprises in Nepal
Based on a sample of more than 540 representatives from MSMEs across all provinces, the survey revealed that over 80 percent of businesses have suffered from a slump in sales.
All the government repatriation schemes had excluded undocumented migrant workers, leaving them to languish in COVID-19 hit labor destination countries.
Despite dire predictions about a drastic drop in remittances that Nepal gets from its workers abroad due to the COVID-19 induced economic downturn, money transfers have remained steady.
In response to COVID-19, the new SCBF product upscaling project supports a local insurtech company to implement a first-of-its-kind e-health value added service product with two core features: e-health tele-consultation bundled with COVID-19 insurance.
Nepali missions abroad are verifying applicants’ status before recommending their names to the government to provide them airfare from Migrant Workers Welfare Fund.