4th August 2020, Kathmandu

Nepal Rastra Bank is planning to turn Nepal Clearing House Limited (NCHL) into a non-profit company and modify its working objectives.

The Government and NRB are working on a program for the last 7 years which is known as “National Switch”. Now, NRB plans to give this responsibility to NCHL.

NRB owns a 10% share in NCHL.

When Rastra Bank was handling Cheque Clearing, they were adopting traditional methods. Therefore, NCHL was set up with the initiative to move Cheque Clearing into a modern system. This was a joined initiative between NRB and the Banker’s Association.

Over time, NCHL has been involved in activities other than the purpose for which it was established. They are performing a “for-profit” business in the name of Nepal Rastra Bank. Once NCHL is considered as a non-profit, it can no longer take profit businesses in the name of Rastra Bank.

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