24th December 2024, Kathmandu
Nepal Clearing House Ltd. (NCHL) celebrated its 16 th Anniversary on 8th Poush, 2081 organizing a formal program in the presence of Respected Governor Mr. Maha Prasad Adhikari as the Chief Guest, Executive Directors of Nepal Rastra Bank, Presidents of Nepal Bankers Association, Development Bankers Association, Nepal Financial Institution Association, Ex-Chairman & Directors of NCHL.
NCHL Celebrates 16 Years of Digital Payments in Nepal
Senior officials of NRB, officials from the Finance Ministry & its Departments, the Department of National ID & Civil Registration, representatives from banks & financial institutions, payment service providers, payment system operators, and other dignitaries.
NCHL was incorporated on 8th Poush, 2065 under the leadership of Nepal Rastra Bank, banks & financial institutions, and Smart Choice Technologies Ltd. to establish multiple national payments, clearing, and settlement systems in Nepal. It started its journey with the introduction of NCHL-ECC as its 1st payment system for digitizing manual cheque clearing in 2068 and later introduced multiple modern digital payment systems in line with the strategic direction of NRB.
In the last 16 years of its operation, it has implemented and operated NCHL-ECC, NCHL-IPS, Retail Payment Switch, connectIPS, CORPORATEPAY, connectRTGS, National Payments Interface (NPI), NEPALPAY QR and EFT Card Services.
It is currently implementing the National Card Switch and Nepal’s own domestic card scheme, the NEPALPAY Card as part of the National Payment Switch (NPS).
The anniversary program focused on recognizing long-serving employees who have completed over 10 years of service with the company this year including Ms. Munni Rajbhandari-COO, Mr. Bishnu Dhital- Product Lead, and Ms. Bandana Luitel- In charge of Card Operations.
During the program, member banks & financial institutions who have contributed immensely to the growth of digital payment systems through NCHL were also awarded under various categories. NIC Asia Bank Ltd., Garima Bikas Bank Ltd., and ICFC Finance Ltd. were awarded ‘Excellence in NEPALPAY QR Transactions’. categories “Excellence in EFT Card Services” and “Excellence in Mobile Banking and Alternate Channels” were awarded to Global IME Bank Ltd.
Similarly. Nabil Bank Ltd. received the “Excellence in Digitizing Businesses with CORPORATEPAY” award. Meanwhile, Rastriya Banijya Bank earned the “Special Recognition for Digitizing Government Transactions” and the Department of National ID and Civil Registration (DONIDCR) was presented with ‘Special Recognition’ for its initiatives in digitalizing government transactions in the last fiscal year.
Global IME Bank Ltd., Jyoti Bikas Bank Ltd., Goodwill Finance Ltd., and Khalti Private Limited received “Excellence in Digital Transactions” for the highest total incoming and outgoing transactions excluding government-related transactions in the last fiscal year in their selected
categories.
The program also felicitated the Ex-Chairman of the Board of NCHL, Mr. Suman Joshi for his leadership and visionary role in establishing and rolling out NCHL, due to which the company has achieved where it stands today. He has led NCHL from 11th Magh, 2066 to 8th Mangsir, 2068. He was honored by the Respected Governor during the program.
NCHL is licensed as a payment system operator by NRB. It has over 53 BFIs as its direct members and over 100 non-bank institutions as indirect or technical members within its network.
It processes on average over 600,000 transactions daily with a settlement value of NRs. 55 Billion. The total transaction count during the fiscal year 2080/81 was 126 Million equivalent to NRs. 15,575 Billion, a growth of close to 54% in terms of transaction count.
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