KATHMANDU, DECEMBER 14
Stakeholders have stated that the 24-hour operation of Real Time Gross Settlement System (RTGS) in India is going to benefit the Nepali market.
India has started 24-hour service of RTGS starting from today. As Nepal and India have very close financial relations, this service will definitely support Nepali businesses, said Bhuvan Kumar Dahal, president of Nepal Bankers’ Association (NBA).
“Round-the-clock RTGS service in India will support late-hour processing of fund transfers from Nepal,” he said, adding, “People will now not have to wait for another day if they miss office hours.
One can transfer money as per their convenience.” Any person from India can also process their fund transfer at any time, thus, this will benefit service-seekers in both Nepal and India. “This could help increase the use of RTGS for fund transfers between the two neighbours,” Dahal added.
Meanwhile, Narayan Pokharel, deputy spokesperson for Nepal Rastra Bank (NRB), said that 24-hour RTGS service in India might not have an impact immediately during this crisis but it is surely going to be beneficial in the long-term. “Curren
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