KATHMANDU: Janata Bank Ltd has signed an agreement with Nepal Clearing House Ltd (NCHL) for the interbank payment system (IPS). Issuing a statement, the commercial bank said that the agreement signed between the two companies on Thursday will provide the bank the access to the interbank payment system of the NCHL. Janata Bank CEO Kumar Lamsal and NCHL CEO Nilesh Man Singh Pradhan signed the agreement on behalf of their respective companies, according to the statement.
IPS facilitates non-paper and non-card based electronic transactions and supports both payment (direct credit) and collection (direct debit) based transactions between NCHL’s member banks and financial institutions.
