NCHL extends clearance time for NCHL-ECC and NCHL-IPS service; cheques to be received till 4 pm and IPS settlement till 5 pm everyday

Nepal Clearing House has extended the clearance time for the NCHL-ECC / NCHL-IPS service where the cheques submitted till 4 pm and settlements submitted till 5 pm will now be cleared on the same day.

As per the latest revision, cheques received under regular session till 3 pm and under expressed session till 4 pm will be cleared after 5:15 pm on the very day. Likewise, the high value cheque clearing amounting to Rs 20 -30 crore will now be cleared till 3 pm, as per the media statement.

Likewise, the IPS settlement submitted between 9 pm till 5 pm will be settled on the very day where the settlement sessions of two hours each will be in place for prompt settlement of such transactions. In addition, the treasury funding settlements of the banks received till 5.30 pm will also be settled on the same day. The newly revised settlement timing will be reduced by one hour during the winter days i.e. from Kartik 16 to Magh 15, as per the media statement.