Namrata Khatri

Women have been significantly contributing to the banking sector globally. But the case is different in Nepal.
With that said, the role of women is in a changing phase in Nepalese society and the Nepalese economy. Women have been actively participating in sectors like finance, medicine, law, aviation, etc., which were considered the major barony of men. The banking sector has been emerging as an attractive sector for many women in Nepal.
Historically, office work was a sole platter for men, but as per changing times and the growing literacy rate of females in Nepal, most women choose banking as the best career option. No doubt some competitive females have been catering enough of success in this field. Women successfully perform the role of the primary breadwinner and diligent worker.

Nevertheless, good family support is a must that would outcast all the constraints, including social norms. Currently, Nepal's banking sector is welcoming gender diversity. But now, there are few women in this space in comparison to men. The banking industry, which males predominated, is witnessing growth in female participation. No doubt most women dominate the bank's clerical and officer roles; however, no more make it up to the top level. In a society where duties of raising children, domestic chores, and looking after the household are for females, their involvement in competitive sectors like banking is a big challenge.
The banking sector has been taking many measures in recent years to introduce gender equality in the workplace. However, an argument may still arise that a handful of women in senior-level positions cannot be utterly sufficient to bring genuine equality to a traditionally male-dominated industry.

Current Scenario
As per the study, women drive more than 50% of the banking sector globally. The case of Nepal is slightly different as banks have realised that gender diversity is a must in the workplace. As per the latest data, there are 993 females out of 2504 total employees in Nepal Bank Limited. The Central Bank of Nepal (NRB) has 256 females out of 1063 employees. Similarly, there are 906 female staff out of 2106 total employees at Rastra Banijya Bank. (Source: NRB)
The data reveals a positive sign of gender mix, which is in a growing phase. Some of the prominent women in the sector include
Anupama Khunjeli, CEO of Mega Bank, who is also the first female CEO,
Samata Pant, Deputy CEO of Nepal Bank
Rabina Deshraj Shrestha, Deputy CEO of Mega Bank
Aarati Rana, Deputy CEO of Sunrise Bank, and there are a few other names to mention.
They aren’t just women bankers but role models and leaders. The number of women on the top level is still lesser in comparison to males. However, many men can make it up to top-level faster than women do due to different factors.
As per the Company Act mandate, commercial banks should include at least one woman in their Board of Directors. Most commercial banks have been following this provision, and some are in the process. Therefore, the legal requirement of Nepal has been slightly inclined towards the support of the outgrowing of women in the banking sector.

Closing the Gap
Workforce diversity paves the route for innovative and effective banking performance. Apart from addressing the issue of gender inequality, the inclusion of women in financial services would also narrow the gender gap. Globally, experts have said that financial stability can only be there if we reduce the gender gap. However, the sobering findings of GLOBAL GENDER Gap 2020 reveal that gender parity would take almost a century to get applied in every sector.
One cannot deny that the gender gap still exists in the banking sector like any other field and needs more to be done to eradicate the gap. The good news is from the dual side of government, and commercial banks themselves are aware of provisions that could offer equal opportunities to women as of men.
The gap is shrinking through the active participation of qualified and competitive females in the banking sector. The gap shouldn’t discourage capable women from further career growth and contribute to entire financial development.

Bottom Line
As a famous saying by Cher goes, "Women are the real architects of society." They are the true essence of society, and we should provide them with the best platform to obtain actual change. But still, change should start from barriers on people's minds, which is a complex undertaking. Changes have been taking place slowly in every sector, including banking. Banks offer a promising career for hardworking and best women talents.
Despite the formidable social barriers, women are trying their level best to escalate through opportunities available in banks. From the legal to social aspects, the focus should be on the development and inclusion of females.

Access to facilities such as transportation, flexible duty hours, daycare centres and accessible transfer policies, among others, can ease the work barriers women face in the banking sector. Similarly, the arrangement of training and motivational programmes can prevent sexual harassment and establish equality.
Gender equality isn't a hasty fix and to change a solely male-driven society overnight is somehow impossible. However, the banking sector in Nepal is providing equal opportunities to women who are keen to work and reach a good height of success. Moreover, banking proves to be a better place for the female to ascend to the top.

(Khatri is assistant manager at Nepal Bank Limited)