Progress on electronic banking in Nepal


Banks in Nepal
Bank of Kathmandu
Siddhartha bank limited
Nic bank - life savings account
NIC Life savings account for ensuring of your savings, high return & your financial & personal security
Standard Chartered
Nepal Investment Bank
Laxmi bank
Lumbini bank
Machha Puchchhre bank
Nepal credit & commerce bank
Nepal merchant bank & fin.
Development credit bank


News item 1-1-2007

Nepal has moved a step further in the information and communication technology (ICT) as the government has promulgated Electronic Transaction Act-2063 and Regulations, legalising all electronic transactions and digital signatures. The House of Representatives (HoR) approved the Electronic Transaction Act-2063 on December 4 and the Ministry of environment, science and technology (MoEST) formulated the Regulations. “The new legislation has not only legalised all forms of electronic transactions and digital signatures but has also clearly spelled out ways to regulate various computer-based activities and punish cyber crimes,” said Purushottam Ghimire, under secretary at the MoEST. Making a presentation on Cyber Law at a programme organised here by Nepal Chamber of Commerce (NCC) and IT Professional Forum (ITPF) today, Ghimire stated that the new legislation has clearly set forth legal framework, administrative and application mechanism for electronic transaction and digital signature. Besides legal validity of electronic records and digital signature, the new Act has made a provision of Regulator and certification authority. The Act is divided into 12 sections and 80 clauses with detailed information on role and rights of regulator, certification authority, customer, government and all the concerned stakeholders. It has also envisaged a separate judicial body -IT Tribunal and Appellate Tribunal, to look into all cases related to computer and cyber crimes. The 3-member tribunal will be headed by the district court judge or legal officer of equivalent status. The tribunal will be responsible for preliminary cases, while the appellate tribunal will look into major cases.

More about electronic/internet banking in Nepal


Other banking news and articles:

Nepal Bangladesh Bank & Nepal Sri Lanka Merchant Bank seeking approval for their merger (2-11-2010)

Nabil bank receives Best Presented Award (24-07-2010)

IDBL´s branch in New Baneshwar (18-04-2010)

Nepal banks rush into consumer lending

Banks to far away from clients

Indian currency reserve of central bank of Nepal is declining

Housing & auto loans dominate consumer financing


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