Nirdhan Utthan Laghubitta Bittiya Sanstha Limited (NULBSL) has signed an agreement with Nepal Clearing House Ltd. (NCHL) for automating its various payment processes, including disbursements and collections through NCHL payment systems. The agreement was signed by Mr. Janardan Dev Pant, CEO of NUBL and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.
With this, NUBL has become one of the early adopters to automate its payments by directly integrating its systems with National Payments Interface (NPI) of NCHL, enabling the company to access various digital instruments available under National Payment Switch. It will fully support automating various collection transactions such as saving deposits, EMI collections and various disbursement transactions such as salary payments, vendor payments, loan disbursements, tax payments, SSF, CIT, etc. Such transactions will be processed directly between the bank accounts of SKBBL and its beneficiary/ customers at any BFIs.
NPI is a consolidated interface for interconnection with multiple underlying payment systems of NCHL, which is now a part of National Payment Switch. It has over 55 BFIs within the network and is being used by more than 80 non-bank institutions including PSPs/PSOs, insurance companies, remittances, merchant banks, Government, Semi-Govt institutions, large corporates etc.
Nirdhan Utthan Laghubitta Bittiya Sanstha Limited (NULBSL) started its formal operation from July 1999. It has been providing micro-finance services such as Loans, Deposits, Micro-Insurance and Remittance services to low income families of Nepal. NULBSL follows group lending model through a network of 185 branch offices and has covered 402,414 households over all 77 districts of Nepal.