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Electronic Payments of the Government extended through NCHL-IPS

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Electronic Payments of the Government extended through NCHL-IPS
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February 27: Financial General Comptroller Office (FCGO) of the Government of Nepal has extended the NCHL-IPS based electronic payments being made to party/suppliers through all District Treasury Controller Offices (DTCO).

Earlier such electronic payments used to be executed through Singha Durbar office at Kathmandu. Issuing a press statement, Nepal Clearing House Limited (NCHL) informed that the payments have been extended from Lalitpur offices from February 27 and will be further rolled out from all offices of Kathmandu, Bhaktapur and then from other offices across Nepal.

The party/suppliers’ bank account details will now have to be mandatorily provided to receive such electronic payment. And based on the payment order made by the respective offices, DTCO will execute the payment transactions through its settlement bank.

The settlement bank will process such transactions through NCHL-IPS system for credit at the beneficiary’s account. Nepal Bank Ltd, Rastriya Banijya Bank Ltd, Everest Bank Ltd and Agriculture Development Bank Ltd are currently processing such Government payment transactions.

With the extension of the electronic payments services, NCHL said it firmly believes that it will help improve the financial governance and transparency by supporting Government’s policies towards promoting electronic payments in Nepal.

 

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