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New record in mobile banking business, growth of 291 percent year-on-year

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New record in mobile banking business, growth of 291 percent year-on-year

While transactions from internet banking are declining, payments from mobile banking are on the rise. Mobile banking business has increased by 291 percent in the last fiscal year.

According to the financial statement of the last fiscal year made public by Nepal Rastra Bank, the mobile banking business has reached Rs. 73.72 billion in the last month of July. In the corresponding period of the previous year, mobile banking turnover was Rs. 18.83 billion.

In this regard, the mobile banking business has increased by 291 percent in a year. Mobile banking transactions have been on the rise as the corona infection has led to lockdowns and banks have reduced their physical presence as much as possible. Mobile banking business has grown rapidly every month of the last fiscal year.

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Rabins Sharma Lamichhane

Rabins Sharma Lamichhane is the owner of RabinsXP who is constantly working for increasing the Internet of Things (IoT) in Nepal. He also builds android apps and crafts beautiful websites. He is also working with various social services. The main aim of Lamichhane is to digitally empower the citizens of Nepal and make the world spiritually sound better both in terms of technology and personal development. Rabins is also the first initiator of Digital Nepal.

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