August 18: Nepal Clearing House has officially launched Interbank Payment System (NCHL-IPS) on August 17. NCHL has  so far made an agreement with 58 banks and financial institutions regarding the interbank payment system. BFIs that are members of NCHL can easily transfer customers’ funds between accounts maintained at various BFIs. 

NCHL has informed that in the initial phase it has made required arrangement for customer transfer, treasury payment and government payment. It will gradually increase the facilities including salary, pension, social security, dividend, IPO refunds, premiums, installments, fees in upcoming future.