Agreement between Laxmi bank and Nepal Clearing House for interbank payment system

Kathmandu January 22- Laxmi bank also entered into the list of signing agreement with Nepal Clearing House for interbank electrical payment system. Chief Executive Officer of Nepal clearing house Nilesh Man Singh Pradhan and Chief Executive Officer of Laxmi Bank Buwal Rai signed the agreement on behalf of their respective companies.

As per the agreement, Nepal Clearing House will provide NCHL-IPS system to Laxmi Bank to carry out the interbank electronic payment system. Customers of banks and finance companies affiliated with NCHL-IPS system may get direct credit and direct debit from any accounts maintained at these financial institutions. Also, customers can get services of amount transfer, dividend payment, IPO refund, bill payment, premium payment, social service allowance, pension/salary payment, remittance etc from any of the associated banks and financial institutions. Banking transactions carried out through NCHL-IPS system are considered transparent, efficient and with minimum of risk.

Nepal clearing house has finalize agreement with 27 banks and financial institutions for set up of NCHL-IPS system as direct member while with 1 remit company as indirect member. After the latest agreement, the number of members affiliated with the company has reached 29.

According to Nepal Clearing house, it is providing clearing services to 2,636 branches through NCHL-ECC service of 125 member banks and financial institutions which the company aimed to expand further in near future.