nchl operations

15th May 2022, Kathmandu

Electronic cheque clearing and interbank payment system transactions are possible on the same day

Transactions and deadlines for Nepal Clearing House’s electronic cheque clearing and interbank payment system have been modified. After the government decided to provide public holidays two days a week on Saturday and Sunday beginning May 15, the clearinghouse modified the deadline to further encourage and promote electronic transactions.

It is also said that the system would be fully operating on Friday, even though Saturday and Sunday are public holidays. This restriction will become effective on May 17, 2017. Furthermore, NCHL has updated the existing sessions and scheduled additional sessions from Monday to Friday. According to the new arrangement, if the payment order of cheques filed until 4 p.m. is received by 5 p.m., it will be sold that day.

A total of four express clearing sessions have been scheduled, allowing cheques to be filed until 4:00 p.m. Similarly, a high-value cheque clearing session has been created for clearing cheques of Rs. 200 to 300 million, and cheques can be filed till 3:00 pm.

Similarly, payment orders received before 5:00 p.m. through the NHCL IPS system would be cleared the same day.

Payment orders submitted between 9:00 a.m. and 5:00 p.m. are cleared every 2–2 hours, thanks to the addition of short-term sessions.

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