Kathmandu, December 17
Continuing the process of expanding the Real Time Gross Settlement (RTGS) system of Nepal Rastra Bank, one development bank and six finance companies have been included in the RTGS system operated by Nepal Rastra Bank. These organizations will now be able to transact on RTGS system using Connect RTGS provided by Nepal Clearing House Limited. Saptakoshi Development Bank, Best Finance, Gurkhaj Finance, Guheshwari Merchant Banking and Finance, Goodwill Finance, Progressive Finance and Reliance Finance have
recently been added to the system. Earlier, RTGS system has come into operation in 27 commercial banks, 8 development banks and 2 finance companies. Out of the banks / financial institutions in the RTGS system, 42 institutions are connected to the system through Connect RTGS operated by NCHL.
Payments above Rs. 200,000 and instant payments through RTGS system can be used for customers of Abayi Development Bank and finance companies or for interbank payments. Customers can use RTGS system by contacting their bank and financial institution and avail the service by filling up the available form.
To provide additional facilities to banks and financial institutions, NHCL has provided an integrated system to integrate with the core banking system of banks and financial institutions to connect with the RTGS system implemented by Nepal Rastra Bank. With the access of RTGS system, the size of e-commerce is also expected to increase significantly.
(Karuna Thapa)
