Nepal Clearing House Ltd. (NCHL) marked its 15th Anniversary on the 8th of Poush, 2080, commemorating the milestone with a formal celebration at Hotel Aloft Kathmandu. The event was graced by the esteemed presence of Mr. Maha Prasad Adhikari, the Respected Governor, serving as the Chief Guest. Also in attendance were Deputy Governor Neelam Dhungana Timisina, Presidents of Nepal Bankers Association, Development Bankers Association, Nepal Financial Institution Association, senior officials of NRB, various government entities, BFIs, PSPs, PSOs, past Chairman & past Directors, current Chairman & Directors of the board of NCHL, and its dedicated employees.
Established on the 8th of Poush, 2065, under the guidance of NRB and BFIs, NCHL was envisioned to create national payments, clearing, and settlement systems in Nepal. Initially funded with less than 9 Cr capital from NRB, BFIs, and SCT, following a public-private partnership model, NCHL commenced its journey by introducing NCHL-ECC to digitize manual cheque clearing. Over the years, it evolved by introducing several modern digital payment systems aligned with NRB's strategic direction. Notable implementations include NCHL-ECC, NCHL-IPS, Retail Payment Switch, connectIPS, CORPORATEPAY, connectRTGS, National Payments Interface (NPI), and NEPALPAY QR. Presently, it is actively working on the National Card Switch and NEPALPAY domestic card scheme under National Payment Switch (NPS).
As part of the anniversary celebrations, NCHL honored seven employees with the "Long Service Award" for their unwavering dedication and loyalty, with the awards presented by Respected Governor Mr. Maha Prasad Adhikari and NCHL Chairman Mr. Ramu Poudel.
Additionally, NCHL recognized Rastriya Banijya Bank Ltd., Muktinath Bikas Bank Ltd., Goodwill Finance Ltd., and Khalti Private Ltd. with the 'Highest Digital Transactions' award. This accolade was bestowed upon them for processing the highest digital transactions in the last three fiscal years, representing commercial banks, development banks, finance companies, and technical members. FCGO received special recognition for its pioneering efforts in digitizing government transactions processed through NCHL systems.
A major announcement during the program included the merger and acquisition of NCHL and Nepal Electronic Payment System Ltd. (NePS). The Memorandum of Understanding (MoU) formalizing this strategic move was exchanged between the companies in the presence of the board of directors and the CEOs.
NCHL, licensed as a payment system operator by Nepal Rastra Bank, boasts over 53 BFIs as direct members and over 95 non-bank institutions as indirect or technical members within its extensive network. Remarkably, it processes over 85 percent of the retail non-cash transactions in Nepal, cementing its pivotal role in the country's financial ecosystem.
