Connect IPS first year turnover of Rs 205 billion
"Connect IPS first year turnover of Rs 205 billion"
Nepal Clearing House Limited (NCHL) has managed to transact a total of Rs. 97 trillion in the just concluded fiscal year 2076/77. The company has done the transaction through check, IPS and Connect IPS.
The total number of transactions during this period alone was 26 million times, said NCHL Chief Executive Officer (CEO) Nilesh Man Singh Pradhan. "The number of transactions has increased by 22.5 percent compared to the previous year," he said, "but the amount of transactions has increased by five percent."
According to CEO Pradhan, there were 2.5 million transactions in Connect IPS alone in the fiscal year 2076/77. Of which, a total of Rs 205 billion has been transacted online. Only towards the end of the Fiscal Year 2075/76, NCHL launched the Connect IPS service so that online transactions can be done directly from a bank account.
Before the coronavirus epidemic and lockdown, the daily turnover of Connect IPS was up to Rs 1 billion, while during the lockdown period, the daily turnover was between Rs 2.5 billion, said Pradhan. He said, "On the last day of mid-July, 31 July, such transactions have increased to Rs 3 billion."
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