26th July 2023, Kathmandu
Kumari Capital Limited 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. Puspa Sharma, CEO of Kumari Capital Limited, and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.
With this, Kumari Capital will automate its payments by directly integrating its systems with the National Payments Interface (NPI) of NCHL, enabling Kumari Capital to access various digital instruments available under National Payment Switch.
It will fully support automating its payments including various disbursement and collection like dividend payouts, DP fee collection, trade payments, mutual fund-related payments, etc.
Such transactions will be processed directly between the bank accounts of Kumari Capital and its beneficiary/ customers at any of the BFIs.
NPI, a part of the National Payment Switch, is a consolidated interface for interconnection with multiple underlying payment systems of NCHL.
It has over 55 BFIs within the network and is being used by more than 100 non-bank institutions including PSPs/PSOs, insurance companies, remittances, merchant banks, Government, Semi-Government institutions, large corporates, etc.
Kumari Capital Limited is a wholly-owned subsidiary of Kumari Bank Limited. Since 2017, it has been providing innovative and integrated financial services ranging from merchant banking, corporate advisory, and asset management services to depository participant functions.
It has been improving its services and customer experience by adopting digital channels and this engagement of Kumari Capital is expected to further improve its service delivery.
