28th April 2024, Kathmandu
National Laghubitta Bittiya Sanstha Limited (NLBSL) has signed an agreement with Nepal Clearing House Ltd. (NCHL) to automate its various payment processes, including disbursements and collections through NCHL payment systems.
The agreement was signed by Mr. Ram Bahadur Yadav, CEO of NLBSL, and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.
With this, National Laghubitta will automate its payments by directly integrating its systems with the National Payments Interface (NPI) of NCHL, enabling NLBSL to access various digital instruments.
It will support fully automating its collections such as saving deposits, EMI collections, and disbursements such as salary payments, vendor payments, loan disbursements, tax payments, SSF, CIT, etc. via NCHL-IPS or RPS. Such transactions will be processed directly between the bank accounts of NLBSL and its beneficiary/ customers at any of the 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 53 BFIs within the network and is being used by more than 100 non-bank institutions including PSPs/PSOs, microfinance, insurance companies, remittances, merchant banks, Government, Semi-Govt institutions, large corporates, etc.
National Laghubitta Bittiya Partners: Click Here
NLBSL has been providing its services since 11th June 2014 as a national-level microfinance institution. It provides services such as microfinance loans, deposits, micro-insurance, and remittance services through a wide network of 90 branches all over Nepal.
This engagement with NCHL is expected to support NLBSL in its drive toward digitization.
