Sahara Bikas Bank also in Electronic Cheque Clearing service

Clearing House Ltd. (NCHL) has entered into agreement with Sahara Bikas Bank Limited for subscribing to Electronic Cheque Clearing System (NCHL-ECC) and Interbank Payment System (NCHL-IPS) services. The agreements were signed by Mr. Neelesh Man Singh Pradhan, CEO of NCHL and Mr. Binay Kumar Sah, CEO of Sahara Bikas Bank Limited. As per the arrangement, the bank will provide the NCHL-ECC and NCHL-IPS services phase wise to its customers. The bank started today with NCHL-ECC services for its customers.

Nepal Clearing House Ltd. (NCHL), promoted by Nepal Rastra Bank, Banks & Financial Institutions and Smart Choice Technologies Ltd, with an objective to implement multiple national payment and settlement systems in Nepal. It has been operating NCHL-ECC for processing of paper based financial instruments, NCHL-IPS for processing of instruction based direct credit/ direct debit instruments and connectIPS e-Payment system for processing of electronic payments through alternate channels.

NCHL-ECC has 80 BFIs as its members with over 4,478 branches within its network.