Agreement Between NSBL and NCHL to Facilitate Cross-Border Payments

KATHMANDU:Nepal SBI Bank Ltd. (NSBL) has entered into an agreement with Nepal Clearing House Ltd. (NCHL) to facilitate cross-border payments between Nepal and India. 

This agreement will enable Indian citizens residing in Nepal to directly transfer funds from National Payments Interface (NPI) handle-linked accounts in Nepal SBI Bank Ltd. to their accounts in India, subject to limits set by the Nepal Rastra Bank. Similarly, Nepali citizens residing in India can also transfer funds directly from their Unified Payments Interface (UPI) handle-linked accounts, to accounts maintained with NSBL.

The agreement was signed by Mr. Rajesh Kumar Panda, Dy. CEO & Chief Financial Officer, NSBL and Mr. Neelesh Man Singh Pradhan, Chief Executive Officer, NCHL in presence of Mr. Dipak Kumar De, Managing Director & CEO, NSBL. The event was also attended by Ms. Munni Rajbhandari, Chief Operating Officer & Mr. Manish Kumar Patel, Business Development Officer from NCHL, Mr. Sunand Malhotra, Chief Technology Officer, Mr. Ritesh Aryal, Chief Business Development Officer, Mr. Suraj Manandhar, Chief Manager, NSBL and other senior officials of the Bank.

The Bank is providing its banking services through its 97 branches, 22 extension counters, 7 province offices and 1 corporate office along with 121 ATMs.