January 21: Nepal Clearing House Ltd (NHCL) hasdecided to facilitate the development banks of the country in adopting the Real Time Gross Settlement (RTGS) system operated by Nepal Rastra Bank (NRB). NCHL has also signed separate agreements with Muktinath Bikash Bank, Jyoti Bikash Bank, Garima Bikash Bank, Kamana Sewa Bikas Bank and Lumbini Bikas Bank in this regards.
Such integration is considered to be one of the key components for the successful rollout of the RTGS system. The company said in a press statement that its partnerships with various development banks is expected to further increase the effectiveness of this system.
NHCL has already supported the integration of 23 commercial banks in the system and is now expanding its services to development banks and finance companies.
RTGS system is meant for processing of high value transactions between the participating banks financial institutions and for settlement of net clearing positions of national payment systems.