Kathmandu. Out of the total 753 local levels, branches of commercial banks have been expanded in 752 levels till February 2079. By February 2078, 750 branches of commercial banks had been expanded at the local level. The number of banks and financial institutions licensed by this bank is 120 at the end of February 2079.

Out of these, 21 commercial banks, 17 development banks, 17 finance companies, 64 microfinance financial institutions and 1 infrastructure development bank are operating. The number of branches of banks and financial institutions was 11,528 at the end of June 2079 and reached 11,629 at the end of February 2079.

Nepal Rastra Bank has released today the current economic and financial situation of the country. The bank has published the economic and financial status based on the statistics of the last financial year 2079-80. Inflation based on consumer price index on annual point basis is 7.44 percent. Imports decreased by 19.1 percent, exports decreased by 29.1 percent, and total merchandise trade deficit decreased by 17.9 percent.

In addition, the remittance inflow has increased by 25.3 percent in Nepali rupees and 14.8 percent in US dollars, while the foreign exchange position is in surplus by Rs. 148 billion 11 million. According to statistics, the total foreign exchange reserves are Rs. 1401 billion 21 million and 10 billion 69 million in US dollars. The expenditure of the federal government is Rs. 779 billion 23 billion and the revenue mobilization is Rs. 582 billion 77 billion.