Laxmi Capital News
E-payments extended

FinancialGeneral Comptroller Office of Nepal government has extended the NCHL-IPS basedelectronic payments being made to party/suppliers through all District TreasuryController Offices (DTCOs).

Earlier suchelectronic payments were being executed through Singha Durbar office atKathmandu and from Tuesday, it has been extended from Lalitpur offices, whichwill be further rolled out from all offices in Kathmandu, Bhaktapur and thenfrom all other offices across Nepal, as per a press statement.

Theparty/supplier bank account details will now have to be mandatorily provided toreceive such electronic payment. And based on payment order made by respectiveoffices, DTCO will execute payment transactions through its settlement bank.

The settlementbank will process such transactions through NCHL-IPS system for credit atbeneficiary’s account. Nepal Bank, Rastriya Banijya Bank, Everest Bank andAgriculture Development Bank are currently processing such government paymenttransactions.

Source:The Himalayan Times, 28th February 2018

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