May 22: Nepal Stock Exchange (Nepse) is preparing to integrate banks for online share transactions from Thursday. Nepse had been offering online share transaction since November 6, 2018 and had been preparing to integrate the banks for this service since the last two months.
Executive chief of Nepse Chandra Singh Saud confirmed that they will begin the banking integration from Thursday as all preparations for this has been completed. According to him, this service will be fully implemented from Sunday onward.
Nepse said that the banking integration is being implemented for all the banks affiliated to Nepal Clearing House Limited (NCHL) in order to make the online service more effective and to reduce the risk factors. CEO of NCHL Nilesh Man Singh Pradhan said that the company has completed all the processes required for the banking integration. According to him, 48 banks and financial institutions affiliated to NCHL can benefit from the banking integration of online transaction of shares.
President of the brokers’ association Bharat Ranabhat said that the banking integration is being initiated upon the request of the brokers to make online share transactions more effective.
Once the banks get integrated for the online share transaction, it is expected that the share transactions will become easy and effective.