Nepalgunj banks and financial institutions start electronic cheque clearance

Nepal Clearing House Ltd (NCHL) has completely replaced manual cheque clearing in Nepalgunj with its' electronic cheque clearing (NCHL-ECC) system from today.

With this, electronic cheque clearing has come into full operation from all the branches of the member banks and financial institutions located at Nepalgunj, unlime earlier system of manual cheque clearing through Nepal Rastra Bank (NRB) for the member banks and financial institutions.

After migration of manual clearing to NCHL-ECC and successful operation in Kathmandu, Birgunj and Biratnagar, Nepalgunj is the fourth region to fully rollout electronic cheque clearance.

"It is now possible for the customers to realise their cheqeus presented at any of the member banks and financial institutions in Nepalgunj on the same day," informed chief executive of NCHL Neelesh Pradhan.

"Having been observed the benefits of the electronic cheque clearing, many of the member banks and financial institutions have already started using it from their branches across the country, he said, adding that NCHL plans to replace manual clearing operated by NRB at Bhairawa, Pokhara, Dhangadi and Janakpur within the current fiscal year 2013-14.

NCHL currently has 118 banks and financial institutions including the central bank as its member and few more are in the pipe line.