January 15, 2020 | Investopaper
Nepal Rastra Bank and Muktinath Bikas Bank along with Deva Bikas Bank have signed an agreement regarding the RTGS system. Mr. Bam Bahadur Mishra, Executive Director of Nepal Rastra Bank, Mr. Pradhyuman Pokharel, Chief Executive Officer of Muktinath Bikas Bank and Mr. Vijay Bahadur Shrestha, CEO of Deva Bikas Bank jointly signed the agreement.
RTGS refers to Real Time Gross Settlement which offers instant transfer of funds from one bank to the another without any waiting period. Customers can transfer the funds with the use of RTGS without issuing the cheques. They can fill the form in their respective banks permitting the bank to transfer to recipient.
Nepal Rastra Bank launched RTGS in September, 2019.
Muktinath Bikas Bank is currently operating in 42 districts and providing full banking services through its 134 branches. Likewise, the bank offers Mobile Banking QR Payment, ATM, Online Banking and other services, as informed by Mr. Til Bahadur Gurung, Chief Information Officer of Muktinath Bikas Bank.