Sana Kisan Bikas Laghubitta Bittiya Sanstha also joins NPS to automate its payment system

Sana Kisan Bikas Laghubitta Bittiya Sanstha Ltd. (SKBBL) 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 Dr. Nav Raj Simkhada, Deputy CEO of SKBBL and Mr. Neelesh Man Singh Pradhan, CEO of NCHL.

With this, SKBBL 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 58 BFIs within the network and is being used by 74 non-bank institutions including PSPs/PSOs, insurance companies, remittances, merchant banks, Government, Semi-Govt institutions, large corporates etc.

Incorporated in 2001, Sana Kisan Bikas Laghubitta Bittiya Sanstha Ltd (SKBBL) provides wholesale credit and technical support services to Small Farmers Cooperatives (SFACL's) and other Microfinance Institutions (MFIs). It aims to mitigate poverty by creating and supporting community-based sustainable cooperatives owned and managed by smallholder farmers themselves at the local level. It has undertaken to offer quality financial services along with technical support to various stakeholders.