8th June 2024, Kathmandu
Vishrut Thapa, Executive Director of Banking Department, Nepal Rastra Bank, has been appointed as the Chairman of Nepal Clearing House Ltd. (NCHL), corresponding to the oath taken by the Deputy Governor, Mr. Bam Bahadur Mishra, on June 7, 2024.
Vishrut Thapa, Chairman (#NCHL)
Mr. Thapa holds Chartered Accountancy degree and has rich experience at various departments at Nepal Rastra Bank for over 21 years. Prior to Mr. Thapa, the Executive Director of Bank Supervision Department, Mr. Ramu Poudel, was representing NRB on the Board of NCHL
The NCHL board includes representation from the NRB, commercial banks, development banks, finance companies, and an independent director.
NCHL is a public limited company promoted by NRB and majority of the banks & financial institutions for establishing multiple national payment and settlement systems in Nepal.
About NCHL
Nepal Clearing House Ltd. (NCHL) is a public limited company established on December 23, 2008 (8 Poush 2065) under the leadership and guidance of Nepal Rastra Bank (the Central Bank of Nepal). It has equity participation from Nepal Rastra Bank, commercial banks, development banks and finance companies. NCHL recognizes banking & financial technology-oriented services as one of the key ingredients for banks and Financial Institutions (BFIs) to improve their efficiency, and productivity and also provide innovative financial solutions to their customers. And NCHL intends to help them realize these by providing various technology-based payment-related services without having to invest heavily into infrastructure by the BFIs.
NCHL as per its strategic objectives to establish multiple payments, clearing and settlement systems in Nepal is currently operating Electronic Cheque Clearing (NCHL-ECC), Interbank Payment System (NCHL-IPS), Retail Payment Switch (RPS), connectIPS, CORPORATEPAY, connectRTGS and National Payment Interface (NPI).
With the mandate and approval from Nepal Rastra Bank (NRB), NCHL is currently implementing the NPS project. The first phase of the project, the Retail Payment Switch (RPS) has already been rolled out which enables non-card-based transaction interoperability for routing and settlement of transactions along with the establishment of NEPALPAY QR scheme. Whereas the second phase of NPS which is still in under implementation phase shall implement interoperability of card-based transactions through the rollout of the Interoperable Card Switch and Domestic Card Scheme for Nepal.
BFIs are enrolled in NCHL systems as participating members and are responsible for their payment transactions and clearing operations. Non-bank institutions are enrolled as Indirect or Technical members for initiating their payment transactions through their respective banks from various underlying payment systems of NCHL.
