NCHL celebrates 15th Anniversary


NCHL celebrates 15th Anniversary

Nepal Clearing House Ltd. (NCHL) celebrated its 15th Anniversary on 8th Poush, 2080 by organizing a formal program held at Hotel Aloft Kathmandu in presence of Respected Governor Mr. Maha Prasad Adhikari as the Chief Guest, Deputy Governor Neelam Dhungana Timisina, Presidents of Nepal Bankers Association, Development Bankers Association, Nepal Financial Institution Association, senior officials of NRB, various entities of Government, BFIs, PSPs, PSOs, past Chairman & past Directors, current Chairman & Directors of the board of NCHL and its employees. 

NCHL was incorporated on 8th Poush, 2065 under the leadership of NRB and the BFIs to establish multiple national payments, clearing and settlement systems in Nepal. Initially started with capital of less than 9 Cr with investment from NRB, BFIs and SCT under the concept of public private partnership model. It started its journey with the introduction of NCHL-ECC for digitizing the manual cheque clearing and later introduced multiple modern digital payment systems in line with the strategic direction of NRB. In the last 15 years of its existence, it has implemented and operated NCHL-ECC, NCHL-IPS, Retail Payment Switch, connectIPS, CORPORATEPAY, connectRTGS, National Payments Interface (NPI) and NEPALPAY QR. It is currently implementing National Card Switch and NEPALPAY domestic card scheme, under National Payment Switch (NPS).

In the anniversary program, NCHL recognized seven of its employees who have been with the company for over 10 years with “Long Service Award” for their dedication and loyalty. The award was handed over by Respected Governor Mr. Maha Prasad Adhikari and the Chairman of NCHL Mr. Ramu Poudel.

NCHL also handed over ‘Highest Digital Transactions’ award to Rastriya Banijya Bank Ltd., Muktinath Bikas Bank Ltd, Goodwill Finance Ltd and Khalti Private Ltd selected from the commercial banks, development banks, finance companies and technical members for processing highest digital transactions in last three fiscal years. Similarly, FCGO was provided with special recognition on its initiatives in digitizing government transactions, which are being processed through NCHL systems.

During the program, announcement was made for merger and acquisition of NCHL and Nepal Electronic Payment System Ltd. (NePS), corresponding to which the MoU was exchanged between the companies in presence of the board of directors and the CEOs of the respective companies.

NCHL is licensed as payment system operator by Nepal Rastra Bank. It has over 53 BFIs as its direct members and over 95 non-bank institutions as indirect or technical members within its network. It processes over 85 percent of the retail non-cash transactions in Nepal.