Global IME Refunds through NCHL-IPS

October 3: Global IME Capital has refunded the unsubscribed money of Citizens Bank International’s right share auction bidding issue directly to the respective bank accounts of the investors. The money has been refunded through interbank electronic payment system (NCHL-IPS)’s IPO Refund Product (IPOR) on Friday, September 30.

However, The Capital has made payments with cheques to those investors, who have accounts with NCHL-IPS non-member bank and financial institutions (BFIs). Meanwhile, Nepal Clearing House said that the direct payment to investors’ bank account will reduce the hardship of investors of getting the cheque and deposit to their bank accounts. Along with it, it also said that the mechanism has helped to save time of the investors.