Direct funds transfers are more common among individuals and small businesses, and in economies where financial markets and institutions are less developed

Direct fund transfers are feature which is more associated with individuals and businesses when there would be direct receipt of various kinds of payments and salaries to the the bank account of the individual and it is one of the feature of developing economy and it is not a feature of less developed economies.

Nepal is not a developed economy and is a developing economy so it is trying to growt through better adaptation of practices and enhancement of its financial system by adaptation of various types of banks which are differentiated as different classes in Nepal-

A. Class A commercial banks - there is a presence of total of 27 class A commercial banks in Nepal.

B. Class B Development bank and these are present at National and state levels to foster growth.

C. Finance Companies having C class trying to have better transparency and availability of credit to various sections of society

D.there are also microfinance companies which are involved in providing loans to those people who have no access to the loans or who are having a low access to the loans

E. There are infrastructure Development Bank along with insurance companies and merchant Bank in Nepal.

The overall monetary policy formulated by the central bank of the Nepal and they are the regulatory authority of controlling of the entire financial system in the Nepal and they will be trying to infuse all such a mechanism in order to enhance the level of credit and liquidity in the entire system.

Different types of Financial institutions will be in the form of commercial banks along with Central banks and microfinance companies along with the mutual fund and investment companies which will be fostering liquidity in the growth and credit in the entire economy

The impact of COVID 19 on most of the global indices has been significant and negative that is because due to the rise in infection of the COVID 19, most countries opted for complete lockdown and that resulted in halting of output in the economy, fall in the consumer demand and rise in unemployment. Because of all these economic factors most of the global financial market indices lost value, in many industries because of the complete lockdown the business activity was completely at halt like airlines and they suffered immensely because of that. Globally most of indices lost in between 20 % to 30 % of the value of their index’s comparative to the early January index value. The major impact of this has been that it has created fear among people and the fear is that it will further spread so people are cautious with their spending and because of that demand has fallen significantly and since demand has fallen the companies cannot continue to produce so they have to let goo off people which led to rise in unemployment rate. Almost all industries were affected negatively however some were affected more than the others like restaurant, tourism, Airlines. All these factors led to significant decline in the financial market indices value.