February 17, Kalikot – Sanima Bank Limited, with support from the UKaid funded Sakchyam Access to Finance Programme (Sakchyam), has successfully opened a new branch office in Kalikot. The branch was inaugurated by Sanima Bank’s Brand Ambassador Mr. Hari Bansha Acharya where the bank’s CEO Mr. Bhuvan K. Dahal, Member of Board of Directors Mr Bharat K. Pokharel and Sakchyam’s Team Leader Mr. Baljit Vohra were also present.
Sanima Bank Limited and Sakchyam launched its partnership in September 2016 to strengthen Deprived Sector Lending in 13 mid and far-western districts of the country. The new Sanima branch in Kalikot aims to cater to its deprived sector as the demand of Micro, Agriculture loan and Small and Medium Enterprise (SME) loan is growing in the district. The branch will work as a delivery channel to offer a wide range of products and services of the bank including several deposits, savings and loan products.
Speaking at the event, Mr. Bhuvan Kumar Dahal, CEO, Sanima Bank said, “As the demand for micro, agriculture loan and SME loan is high in Kalikot, through this branch opening we look forward to serving more underserved segments of the society.” Dahal further informed that lack of financial linkages with small scale farmers, value chain actors of different agriculture businesses, small scale enterprises and entrepreneurs is a major hurdle for the development of rural Nepal. “Therefore, to address these challenges, Sanima Bank is introducing financial products and services that are most appropriate and suitable for the underbanked/unbanked, deprived and marginalized people in these communities,” he added.
Mr. Baljit Vohra, Team Leader, Sakchyam said, “UKaid Sakchyam’s support to Sanima Bank is aligned with and will strengthen the Government of Nepal’s policy to improve deprived sector lending through Banks and Financial Institutions (BFIs) to the remotest regions of the country. We are excited about this physical branch opening in Kalikot – which is one of the most financially underserved districts in Nepal. Through this partnership, we aim to support Sanima to cater to the needs of people who are not traditionally targeted by commercial banks.
Sakchyam has been supporting BFIs in its objective of taking financial services to communities that need it the most. Sakchyam is also playing a crucial role in supporting Government of Nepal’s objective to expand financial inclusion through alternative delivery channels such as Branchless Banking (BLB) touch points for government-to-persons (G2P) Payments.
Sakchyam is a UKaid-funded access to finance programme. It is being implemented by Louis Berger for DFID Nepal, in partnership with local and international institutions.