1st May 2021, Kathmandu
Nepal Infrastructure Bank (NIFRA) has begun conducting transactions by joining Nepal Rastra Bank’s Real Time Gross Settlement (RTGS) system.
Nepal Infrastructure Bank has been added to the Connect RTGS system by Nepal Clearing House.
In the process of expanding the RTGS system of Nepal Rastra Bank. NIFRA has also been added to the system used by over 35 banks and financial institutions, as per the media release.
NIFRA will now be able to initiate and process high-value and immediate transactions exceeding Rs 200,000 through RTGS.
It is expected to make NIFRA’S fund management more convenient, according to the bank.