Nepal SBI Bank Signs Agreement with Nepal Clearing House for Interbank Payment system

Nepal SBI Bank Limited and Nepal Clearing House Limited have signed an agreement for Interbank Payment system (NCHL-IPS).  Mr. V.K. Tyagi, Dy. Chief Executive Officer of Nepal SBI Bank and Mr. Nilesh Man Singh Pradhan, Chief Executive Officer of Nepal Clearing House exchanged the agreement amid a ceremony today.

Bank entered into NCHL-IPS agreement with a motive to providing modern banking services to the customers. As per the agreement, Clearing House will provide NCHL-IPS system to the Bank to facilitate interbank electronic payment service.

Banks and Financial Institutions associated with Clearing House can provide direct credit and direct debit facility to the customers through this system. Member Banks and financial institutions can provide services like Customer’s Cash Placement, Dividend Payment, IPO Refund, Bill Payment, Premium Payment, Allowance Payment and Remittance Services through this system. Transactions through the system are transparent wherein the large number of transactions can be easily conducted, risk is minimized and customers can avail international standard payment services.