Kathmandu : Karnali Development Bank Limited (KRBL). has joined Nepal Clearing House Ltd. (NCHL) for Interbank Payment System (NCHL-IPS), connectIPS and connectRTGS systems. The agreement for the same was signed by Mr. Neelesh Man Singh Pradhan, CEO of NCHL and Mr. Dinesh Kumar Rawat, CEO of Karnali Development Bank Ltd.
With this, the bank will be able to process incoming & outgoing interbank payments using NCHL-IPS system and high value transaction using connectRTGS system within the network of member banks and financial institutions. Similarly, the customers of bank will be able to initiate online payments from www.connectips.com and its mobile application, with all transactions processed directly from the bank accounts using connectIPS e-Payment system. Prior to this the bank was using NCHL-ECC system of NCHL.
Karnali Development Bank is the first development bank in Mid & Far Western region of Nepal, incorporated with the objective of extending banking approach to rural and urban developing sectors of the society. And with the onboarding of the development for NCHL is expected to help extend digital channels at the remote regions also.
NCHL has been operating NCHL-ECC, NCHL-IPS, connectIPS e-payment, connectRTGS National Payments Interface (NPI) and CORPORATEPAY as part of the national payments infrastructure with participation of almost all BFIs, insurance companies, remittance, merchant banks, PSPs, PSOs, Government & Semi-Government entities and others as indirect/ technical members.