Nepal Rastra Bank introduces NCHL-IPS system to ease the deposit of money
Tue, Jan 23, 2018 7:00 AM on Latest, Featured, Others, Stock Market,
Nepal Rastra Bank (NRB) has published circular issuing directives to ‘A’ ‘B’ and ‘C’ class Bank and Financial institutions (BFIs).
- Interest rate on the fixed deposit collected through bidding from the Institutions can be increased upto 2 percent but the interest rate so increased cannot be changed upto 3 months.
- For making the banking transaction efficient and effective NCHL-IPS system can be used while depositing the money. The following directions are to be followed by the BAFI’s
- The cash transaction threshold has to be followed as per the directives.
- The directives issued for customer identification is to be followed duly. Also, for a customer involving with transactions exceeding more than Rs 1 lakh, identification documents along with the purpose of such deposit is to be obtained.
- Bank should provide vouchers with the other bank’s name, account number, account holders name and depositor’s name.
- In case of failure to deposit the amount on a bank or financial institution, such information should be provided to the depositor on the same day itself.
- The amount to be charged for using such facility should be provided to the customer beforehand.
