NCHL completes 17 years of establishment
NCHL was incorporated on 8th Poush, 2065, under the leadership of NRB and BFIs to establish multiple national payments, clearing, and settlement systems in Nepal.
KATHMANDU: Nepal Clearing House Ltd. (NCHL) celebrated its 17 th Anniversary on 8 th Poush, 2082 organizing a formal program in presence of Respected Deputy Governor Mr. Bam Bahadur Mishra as the Chief Guest, Executive Directors of Nepal Rastra Bank, Presidents of Nepal Bankers Association, Development Bankers Association of Nepal, Nepal Financial Institution Association, Ex-Chairman & Directors of NCHL, senior officials of NRB, officials from Finance Ministry & its Departments, Department of Immigration, CEOs & representatives from banks & financial institutions, payment service provider, payment system operators, international partners and other dignitaries.
NCHL was incorporated on 8th Poush, 2065, under the leadership of NRB and BFIs to establish multiple national payments, clearing, and settlement systems in Nepal.
It started its journey with the introduction of NCHL-ECC as its 1 st payment system for digitising the manual cheque clearing in 2068, and later introduced multiple modern digital payment systems in line with the strategic direction of NRB.
In the last 17 years of its operation, it has implemented and operated NCHL-ECC, NCHL-IPS, Retail Payment Switch, connectIPS, CORPORATEPAY, connectRTGS, National Payments Interface (NPI), NEPALPAY QR, NPIx, and EFT Card Switch.
It has recently gone commercial live with National Card Switch and Nepal’s own national card scheme, NEPALPAY Card, as part of the National Payment Switch (NPS).
The anniversary program focused on recognizing long serving employees who have completed over 10 years of service with the company this year, includingMr. Chhabi Sapkota, Head- Payment System of NCHL. The company also felicitated two Ex-Chairmen of the Board, Mr Anil Keshari Shah and MMrAshok SBJ. Rana for their leadership and visionary role in establishing and rolling out NCHL. MrMrhah was the founding Chairman of NCHL, andMr. Ashok SBJ Rana was the third Chairman of NCHL.
During the event, NCHL also introduced innovative digital products and solutions, including Digital Mobile Banking Solution,n whichwas soft-launchedd with Siddhartha Bank Ltd., CORPORATEPAY 2.0, which was rolled out with Nabil Bank Ltd., Cards Central System, which went live with Machhapuchchhre Bank Ltd. and Third Parties Net Settlement instrument, which went live with Smart Choice Technologies Ltd.
Moreover, member banks and financial institutions, PSPsP and otherindirect membersr, who have contributed immenseto in the growth of digital payment systems during FY 2081/82, were recognised and awarded under various categories of Excellence in Digital Transactions. Special recognition awards were presented to Rastriya Banijya Bank for digitising government transactions and to the Department of Immigration, Home Affairs, for its initiatives in enabling an International card payment gateway for online payment of Electronic Travel Authorisation (ETA/e-visa).
NCHL is licensed as a payment system operator by NRB. It has over 54 BFIs as its direct members and over 100 non-bank institutions as indirect or technical members within its network.
The total transaction count during the fiscal year 2081/82 was 211 Million equivalents to NRs. 18.60 trillion with growth of close to 67% in terms of transaction count and 19% in terms of transaction value.
