Mobile banking users reach 29.4 million as digital transactions surge

Nepal's digital financial landscape is rapidly expanding, with mobile banking users now numbering 29.4 million and internet banking users at 2.374 million as of mid-March, according to the Economic Survey for the current fiscal year. This surge in digital activity is highlighted by QR code-based transactions alone surpassing Rs125 billion.

The growth is underpinned by significant advancements in digital connectivity. Mobile telephone penetration has reached 103.2 percent, and internet penetration stands at 145.7 percent. Furthermore, 4G coverage now extends to 89.6 percent of the population, and digital television services reach 82 percent of households, facilitating greater access to online services.

In governance, 135 land revenue offices have implemented online systems, allowing citizens to complete land transaction documentation remotely. Physical infrastructure also saw development, with 456 kilometers of new blacktopped roads added in the first nine months of the fiscal year, bringing the total to 20,456 kilometers. The overall road network now spans 36,806 kilometers.

However, the expansion of local infrastructure has slowed, with only 7 kilometers of new road extension recorded during the same period. The ambitious new cities project, initially planned for 10 cities along the Pushpalal (Mid-Hill) Highway, has expanded to 54 cities but faces budget constraints, with work concentrated in only 12 locations. Over the past decade and a half, only 34 kilometers of blacktopped roads have been constructed under this project.