Machhapuchchhre Bank and Nepal Investment Bank become first banks to test new RTGS platform of Rastra Bank; no more hassles now for cheque clearance during big financial transactions

Machhapuchchhre Bank and Nepal Investment bank have together conducted the first transfer of Rs 20 crore to inaugurate the Real Time Gross Payment Settlement (RTGS) payment gateway of Nepal Rastra Bank. CEO of Machhapuchchhre Bank Mr. Suman Shrestha and CEO of Nepal Investment Bank Mr. Jyoti Prakash Pandey jointly inaugurated the new system by disbursing Rs 20 crore from MBL a/c to the NIBL a/c amid an inaugural program held on Bhadra 29, 2076.

After the implementation of this new system, transaction above Rs 2 lakh need not go through the cumbersome cheque clearance process as earlier since one can dispatch Rs 2 lakh and even more easily from the new RTGS channel, as per the media statement.