Transaction Worth NRs. 41.2 Kharba Processed Through NCHL Systems in First Quarter

Tue, Oct 26, 2021 1:19 PM on Latest, Economy, National,

Through various payment systems operated by NCHL in the first quarter of FY 2078/79, more than 1.71 crore transactions worth Rs 41.2 kharba have been processed. This is an increase of 107% based on the number of transactions compared to the corresponding quarter of the previous fiscal year.

In the first quarter, more than 41.53 lakhs checks worth Rs. 28.9 kharba were transacted in ECC.

Transactions to IPS from Bank Branches and NPIs is worth Rs. 5.5 kharba, brought about by more than 32.86 lakhs transactions. Similarly, there have been more than 97.47 lakhs transactions in the connect IPS from BFIs' alternative medium totalling 6.9 kharba.

There has been a significant increase in transactions from IPS and ConnectIPS using NPIs. With increasing acceptance and use, Nepal's digital transactions have been increasing in recent times. With the support of various guidelines of Nepal Rastra Bank, NCHL has been developing and expanding the necessary infrastructure to bring its member banks / financial institutions, PSPs, PSOs and other institutions into electronic payment.

In this context, by reusing and adding to the existing infrastructure, NCHL has also taken forward the work of National Payment Switch, the first phase of which has been completed and is on course of being implemented.