Kumari Capital Limited has signed an MoU with Nepal Clearing House Ltd. (NCHL) which will help with automating its transactions. Now, the bank’s various payments such as disbursements and collections will be carried out through NCHL payment systems.
Mr. Puspa Sharma, CEO of Kumari Capital Limited, and Mr. Neelesh Man Singh Pradhan, CEO of NCHL signed the agreement papers at a signing ceremony in Kathmandu.
The agreement automates Kumari Capital’s payments integrating its systems with NCHL’s National Payment Switch (NPS). It enables KCL to access multiple digital instruments available with NPS.
Kumari Capital Joins NPS
The payment switch supports automating payments, such as dividend payouts, DP fee collection, trade payments, mutual fund-related payments, etc. Thanks to NPS, such transactions will now be directly processed between the bank accounts of Kumari Capital and its customers/beneficiaries at any banks and financial institutions (BF/Is).
NPI is part of the National Payment Switch which boasts a network of 55 BF/Is and 100 non-bank institutions including PSPs/PSOs, merchants banks, government and semi-government institutions, etc. It’s an interface designed for multiple payment systems of NCHL.
You may also like to read: NCHL introduces NFC payment through ConnectIPS Nepal Pay
Kumari Capital Limited is a subsidiary of Kumari Bank Limited providing innovative financial services since 2017. Its services range from merchant banking, corporate advisory, and asset management services to depository participant functions. The institution has been routinely adopting various digital channels to improve its service delivery.