17th August 2022, Kathmandu
Chhimek Laghubitta Bittiya Sanstha Ltd. (CLBSL) has signed an agreement with Nepal Clearing House Ltd. (NCHL) for automating its various payment processes, including disbursements and collections through NCHL payment systems. The agreement was signed by Mr. Chola Raj Sharma Joshi, CEO of CLBSL, and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.
With this, CLBSL has been the first micro-finance company to automate its payments by directly integrating its systems with the National Payments Interface (NPI) of NCHL, enabling the company to access various digital instruments available under the National Payment Switch.
It will fully support automating various collection transactions such as saving deposits, EMI collections, and various disbursement transactions such as salary payments, vendor payments, loan disbursements, tax payments, SSF, CIT, etc. through NCHL-IPS and connect-IPS systems. Such transactions will be processed directly between the bank accounts of CLBSL and its beneficiary/ customers at any BFIs.
NPI is a consolidated interface for interconnection with multiple underlying payment systems of NCHL, which is now a part of the National Payment Switch. It has over 59 BFIs within the network and is being used by 74 non-bank institutions including PSPs/PSOs, insurance companies, remittances, merchant banks, Government, Semi-Govt institutions, large corporates, etc.
Incorporated in 2001, Chhimek Laghubitta Bittiya Sanstha Ltd (CLBSL) is an offshoot of the micro-finance operation implemented by Neighborhood Society Service Centre (NSSC) along with shareholding from leading commercial banks, NSSC, and individual shareholders.
It aims to improve access to financial services supporting micro-enterprises development with reach to more than 400,000 poor and marginalized women clients in 69 districts through 192 branches across Nepal.
It has been providing value-added services to its members since its inception and this engagement for automation of payment by CLBSL is expected to further improve its service delivery.
For more information, visit www.nchl.com.np.