Ten more financial institutions affiliated to RTGS system

KATHMANDU: Ten more financial institutions have joined the real time payment system (RTGS) system of Nepal Rastra Bank (NRB).

The NRB has issued a notice stating that eight development banks and two financial institutions have been added to the system. According to NRB, Jyoti Development Bank, Mahalaxmi Development Bank, Muktinath Development Bank, Kamana Seva Bank and Garima Development Bank, Sangrila Development Bank, Sign Resunga Development Bank and Lumbini Development Bank have joined RTGS system.

Similarly, Class C ICFC Finance and Manjushree Finance have also joined the system, according to Rastriya Bank. At the same time, the number of banks and financial institutions joining the RTGS system has reached 37. Earlier, 27 Class A commercial banks were affiliated to the system.

Through this system, cheques can be cashed and paid directly from one bank account to another. Immediate payment will be received from banks in real time.