Development banks select NCHL as RTGS Integration partner

In continuation to supporting Nepal Rastra Bank (NRB)’s initiative of extending Real Time Gross Settlement (RTGS) system, Nepal Clearing House (NCHL) will now be facilitating development banks for integrating them with RTGS system operated by NRB. In this regards, NCHL has separately signed agreements with Muktinath Bikash Bank, Jyoti Bikash Bank, Garima Bikash Bank, Kamana Sewa Bikas Bank and Lumbini Bikas Bank as Integration Partner, corresponding to which NCHL will provide them with its connectRTGS system for integrating its core banking system with RTGS.

The integration is one of the key components for the successful rollout of RTGS system and maintains the service delivery. In addition, with partnership with the development banks on January 19 and once it is rolled out, it is expected to further increase the effectiveness of NRB’s RTGS system. connectRTGS is already implemented and live at 23 commercial banks and is now being extended to the development banks and finance companies, reads the press statement.

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