News & Events
Regular Cheque Clearing

 

Electronic Cheque Clearing (NCHL-ECC) is an image-based, cost-effective, MICR cheque processing and settlement solution where an original paper cheque is converted into an image for electronic processing of the financial transactions between participating member Banks/FIs. The physical movement of the cheques are truncated or stopped at the level of the presenting bank in the NCHL-ECC System. The cheque does not physically travel to the clearing house or to the paying branch as it used to do in manual clearing process, resulting in a faster and easier processing of the cheque transactions.

 

Regular electronic cheque clearing supports clearing of cheques of up to NPR 200 million in case of NPR cheques and up to 2 million in case of USD, GBP and EUR cheques from Sunday to Thursday. The session timings of regular electronic cheque clearing sessions are as follows:

 

 

Presentment Start Time

Presentment Cut-Off Time

Reply  Cut-Off Time

Settlement Start Time

Regular Clearing

14:00 (T-1)

14:00 (T)

15:00 (T)

15:10 (T)