NCHL marks ts 16th anniversary

KATHMANDU, DECEMBER 25: Nepal Clearing House Ltd. (NCHL) celebrated its 16th Anniversary on Monday (Dec.23) with a formal program. The event was attended by Governor Maha Prasad Adhikari as the Chief Guest, along with Executive Directors of Nepal Rastra Bank, Presidents of Nepal Bankers Association, Development Bankers Association, and Nepal Financial Institution Association.

The program was also participated in by the Ex-Chairman and Directors of NCHL, senior officials of Nepal Rastra Bank, representatives from the Finance Ministry and its departments, the Department of National ID & Civil Registration, banks and financial institutions, payment service providers, payment system operators, and other dignitaries.

NCHL was established on December 23, 2008, under the leadership of Nepal Rastra Bank, banks, financial institutions, and Smart Choice Technologies Ltd., to develop multiple national payment, clearing, and settlement systems in Nepal.

Its journey began with the introduction of NCHL-ECC some 13 years back, a system that digitized manual cheque clearing. Over the last 16 years, NCHL has implemented and operated various digital payment systems, including, NCHL-IPS, Retail Payment Switch, connectIPS, CORPORATEPAY, connectRTGS, National Payments Interface (NPI), NEPALPAY QR, and Card Services. Currently, NCHL is working on the National Card Switch and Nepal’s domestic card scheme, the  NEPALPAY Card, as part of the National Payment Switch (NPS).

The anniversary program highlighted key milestones and recognized employees who have completed over 10 years of service with the company.  Similarly, during the occasion, awards were presented to member banks and financial institutions that contributed significantly to the growth of digital payment systems.