KATHMANDU, APRIL 30
Nepal Infrastructure Bank Ltd (NIFRA) has been enrolled in and started processing its transaction in real time gross settlement (RTGS) system, corresponding to which Nepal Clearing House Ltd (NCHL) has enabled NIFRA into connectRTGS system.
In continuation to supporting Nepal Rastra Bank's initiative of extending RTGS system, NI- FRA has used connectRTGS, which is already being used by over 35 banks and financial institutions, as per a media release.
NIFRA will now be able to initiate and process high value and urgent transactions above Rs 200,000 through RTGS and is expected to largely help NIFRA in its fund management.
A version of this article appears in the print on May 1, 2021, of The Himalayan Times.