19th May 2022, Kathmandu
In continuation to supporting Nepal Rastra Bank (NRB) in its initiative of extending the Real Time Gross Settlement (RTGS) system, Nepal Clearing House Ltd.
NCHL has further enabled 1 development bank and 3 finance companies into the connect-RTGS system, through which they will now be able to initiate and process RTGS transactions.
Miteri Development Bank Ltd., Nepal Finance Ltd., Samriddhi Finance Company Ltd., and Shree Investment & Finance Co. Ltd. are the recently added BFIs to the system.
Prior to this 24 commercial banks, 9 development banks and 8 finance companies have already been using the RTGS system. Out of the total BFIs using RTGS, a total of 46 BFIs are accessing RTGS through connectRTGS, which is an additional platform provided by NCHL to its member BFIs for them to initiate and process RTGS transactions.
RTGS issued for processing high-value and urgent transactions above 2 lakhs by these BFIs on the behalf of their customers or their own institutional transfers.
The customers will have to request the BFIs for the RTGS transactions by filling out a transfer form available at the bank.
As per NRB’s data, it has already processed a total of 65,376 transactions equivalent to NRs 4.3 Trillion, in the current fiscal year until the end of Chaitra 2078.
For more information, visit www.nchl.com.np.