August 15: Nabil Bank has signed Interbank Payment System (NCHL-IPS) with Nepal Clearing House Limited amid a program held on August 14. According to the agreement, Nepal Clearing House will provide NCHL-IPS service for interbank payment system to Nabil Bank.

Nilesman Singh Pradhan, CEO of Nepal Clearing House and Binaya Kumar Regmi, Chief Operating officer of Nabil bank signed the agreement on behalf of their respective companies. Customers of member banks and financial institutions under NCHL-IPS system can receive and withdraw payment through any member banks. Banks and financial institutions associated with NCHL-IPS system can also transfer customers’ fund in any other banks and financial institutions. Through the system various other services including dividend payment, IPO refund, bill payment, premium payment, allowance payment and remittance services can be made, as per the press release.