9th March 2023, Kathmandu
The Banking and Financial Digital Expo is an event or exhibition that focuses on the latest technological advancements, and innovations. And trends in the banking and financial industry.
It is a platform where various financial institutions, fintech startups, technology providers, and industry experts come together to showcase their latest products, services, and solutions. And discuss the emerging trends and challenges in the industry.
The expo provides an opportunity for attendees to learn about the latest digital banking solutions. Such as mobile banking, online banking, blockchain, artificial intelligence, big data, and other emerging technologies that are transforming the financial landscape. It also offers networking opportunities, allowing attendees to connect with peers, experts, and potential business partners.
The Banking and Financial Digital Expo is an essential event for anyone interested in learning about the latest trends and developments in the financial industry and how technology is shaping its future.
Banking and Financial Digital Expo completed
Banking Khabar/Media International Nepal organized the ‘Banking and Financial Digital Expo Program’ organized on Friday at the National Auditorium in Kathmandu Bhrikutimanda.
In the program, Deputy Governor of Nepal Rastra Bank Bam Bahadur Mishra said that digital has taken a leap in Nepal after Covid. Deputy Governor Mishra, the chief guest, said that such programs will help to promote the digital medium.
He said, ‘Rashtra Bank is coordinating with the Ministry of Education to keep the digital literacy program in the school curriculum. Rashtra Bank is trying to hold digital financial programs right from school.
Deputy Governor Mishra said that the use of wallets has increased over the past three to four years and recently, even ‘D’ category microfinance institutions are working by making applications.
He said that although there are some risks in digital payment, such programs will help in information communication.
Additionally, He also said that the National Bank has announced March as the month of digital payments. He said that the National Bank is advancing the concept of digital banking. And legal amendments are being raised for this.
Similarly, targeting the recent demonstrations against banking institutions, he said, ‘It has come out that people commit suicide because of interest and microfinance. It has Rastra Bank concession. Who has been given a loan from bank finance? Can you campaign that you will not pay the loan now?
He said that many banks in the world have increased their interest rate. And as a result, the interest rate has also increased in Nepal. He said that because of the contraction in the rectangle, is also affecting the interest rate. Mishra also said that Nepal Rastra Bank has requested to take the borrower’s photo.
He says that things like putting black meat on banking and microfinance employees have created chaos in society. He said, “Loans and loans are not bank money. It is common people’s money. If you don’t pay, how can others get it?
He also said that we should not campaign and that we do not have to pay. He also asked not to participate in it. Mishra also requested to complain to Rashtra Bank if there is any complaint against the bank finance.
Prakashraj Sharma, president of the Microfinance Bankers Association, said that the importance of financial literacy has become clear now. He also said that due to the lack of financial literacy, this sector is pushed towards crisis.
Sharma said how many financial support providers there are in Nepal and there is a lack of regulation, operation, and service information. He says that even the teachers in the school have not reached this. He says that it is necessary to bring financial literacy to the villages.
Savings and Loan Cooperative Society Ltd. Paritosh Poudel, president of Nefkun, said that now is the era of opportunity. He said that the digital sector has taken a hit and it should be used properly and move forward. He says that the cooperative sector is also adopting digitization recently.
Amravati Maharjan, a senior cooperative worker, said that digitization has saved time and made it easier for many consumers. She said that there is a need for digitization in every sector.
Principal of Kathmandu Model College (KMC) Surendra Subedi stressed the need to connect educational institutions in financial literacy. He said that all educational institutions should be connected to it.
Madhav Bezok, president of the National Campaign for Financial Awareness, stated during the program that attention should be paid to how entrepreneurship can be advanced. He said that Media International has been promoting financial literacy programs for a long time.
In the second session of the program, Guru Prasad Poudel, Executive Director of Nepal Rastra Bank and Head of the Payment System Department, Sudyrumna Prasad Upadhyay, Executive Director of Nepal Insurance Association, Pravinaraman Parajuli from Life Insurance Association and Yamanath Aryal, Assistant Director of Nepal Securities Board, discussed the possibilities and challenges of digital Nepal as well as digital banking and opportunities. He presented a working paper on digital services in the insurance market, digitization in the stock market and digital market, and e-commerce possibilities and opportunities.
Similarly, the Secretary of the Ministry of Information and Communication Technology Dr. Baikunth Aryal presented a paper about the Ministry’s plans for digitization and Dr. Bhojraj Ghimire presented a paper about the digital and rural economy of the country as a whole. The program also included cultural dances.