After the Rastra Bank allowed an open policy to encourage financial institutions, Pokhara has also emerged as a banking centre. The early days brought Machapuchre Bank, six finance companies to Pokhara, after which six more development banks also came up. Sudeep Acharya has been closely involved in the board of Kaski Finance Ltd as well as the Chair of Kamana Bikash Bank. “Some of the banks moved their headquarters to Kathmandu, but they showed that Pokhrelis have a strong trading tradition and a keen business sense with which they have contributed to Nepal’s prosperity,” says Acharya.
The following are financial institutions based in Pokhara: Pokhara Finance Ltd, Om Finance Ltd. (Later merged with NMB Bank), Annapurna Finance (Later merged with Prime Commercial Bank), Machapuchre Bank, Citi Finance (Merged with NIBL), Shangrila Develepment Bank, Garima Development Bank, Fewa Finance (Merged with Mega Bank), Kaski Finance (Merged with Kamana Sewa Bikash Bank), Biswo Bikash Bank (Merged with NMB), Kamana Bikash Bank (Merged to Kaman Sewa Bikash Bank), Api Finance (Merged to form Apex Development Bank which merged with NCC Bank) and Gandaki Bikash Bank (merged with Mega Bank).