Kathmandu. KATHMANDU: Nepal Clearing House Ltd. (NCHL) has concluded its 14th Annual General Meeting (AGM) for the fiscal year 2081/82 in Kathmandu. The meeting also approved the balance sheet, profit or loss account and cash flow statement along with audit report and decided to distribute 15% bonus shares and 0.789% cash dividend for tax purposes
.
Yes.
After this, NCHL’s paid-up capital was Rs. It will be worth Rs 1,45,85,11,500. The company will use the capital increase to develop a national payment switch, additional payment systems for national and cross-border transactions, strengthen risk management and upgrade the existing infrastructure.
In the FY 2081/82, NCHL had cleared 21.12 crore payment transactions worth Rs. 186 trillion. During the fiscal year, the company’s net profit increased by 4% with the number of transactions increasing by 67%.
The meeting has unanimously elected two directors to the board of directors of the company. Umesh Singh Bhandari, Deputy Chief Executive Officer, Shangrila Development Bank Ltd. and ICFC Bank Ltd. are the members of the Board of Directors of NCHL. Laxman Prasad Jaishi has been elected as the Deputy General Manager of the Finance Limited.
The board members of NCHL include 1 from Nepal Rastra Bank, 3 from commercial banks, 1 each from development banks, finance companies and independents. Nepal Rastra Bank holds 9.45% stake in NCHL and 90.55% of BFIs.
The Annual General Meeting (AGM) also announced the Closed User Group (CUG) Commercial Go-Live of the NepalPay card. The announcement was made under the various resolutions of the Assembly. The NepalPay card, which was launched under the National Card Scheme, is currently being issued through two banks and is being acquired from 12 BFIs.
NCHL, in line with its reinvestment approach, has been playing an unparalleled role in digital payments space by establishing and operating various national level payment systems in Nepal. NCHL currently has 54 member banks and financial institutions and over 100 non-banking institutions as Indirect/Technical Members.
