By Our Correspondent
Bajura, Mar. 16: Khaptad Chhededaha Rural Municipality of Bajura has successfully completed its ‘One Household, One Bank Account’ initiative.
It was launched to increase financial awareness and promote the habit of saving in banks to make locals self-reliant through a balanced economic activity.
The cooperation of the rural municipality with Himalayan Bank division successfully had all the villagers open their bank accounts. The project was completed on March 12.
The programme was brought into action when the locals had expressed their concerns over saving their increased income.
A local trader, Lal Bahadur Rawat, said, “Before the programme, we had to walk for a day to receive banking service at the district headquarters. Now that we have a bank in our village, banking has become much easier.” The programme has proved effective not only for business people, but it has also helped enhance the living standard of poor single women.
A local woman of the village, Paru Nepali, remarked, “Earlier, when someone would fall sink, we used to borrow money from the local moneylenders at a very high interest.
However, with the establishment of the bank, we can take loans at a reasonable interest for various purposes.”
This scheme has made living better for poor and deprived, Nepali said. Chairman of the rural municipality Nara Bahadur Rawat reported that among the 22,135 people living in 3,234 houses in the area, 9,476 individuals had opened their bank accounts.
Supervisor of Sudurpaschim provincial office of Nepal Rastra Bank, Subash Chandra Ghimire, said, “Only with financial involvement comes economic prosperity.”
Supervisor Ghimire remarked that the programme was a unique and inspirational one in the entire financial literacy history. He also praised the villagers for their financial awareness.
Rawat’s happiness knew no bounds when a rural municipality of their district that was once listed at the bottom of Human Development Index was evolving to become a model for financial literacy. Banking service had begun in Nepal 86 years ago.