Nepal is classified as a Least Developed Country (LDC) and has both low levels of per capita income and a sizable population classified as poor. Farming is a key component of livelihoods management for many households in Nepal as well as a key income generating activity. Nepal has just experienced a catastrophic earthquake, with devastating effects on infrastructure and its people. These effects will be felt for many years, mainly by the poor. Nepal Rastra Bank (NRB) embarked on a strategic five-year action plan (2012-2016) to undertake a major program to reform the financial sector, highlighting financial inclusion as a strategic priority.
The objectives of the FinScope Consumer Survey Nepal 2014:
- To describe the levels of financial inclusion (i.e. levels of access to financial products and services – both formal and informal)
- To describe the landscape of access (i.e. the type of products and services used by financially included individuals)
- To identify the drivers of, and barriers to financial access
- To stimulate evidence-based dialogue that will ultimately lead to effective public and private sector interventions that will increase and deepen financial inclusion