RTGS Fund Transfer in Nepal

RTGS Fund Transfer in Nepal

Nepal Rastra Bank (NRB) has started Real Time Gross Settlement (RTGS) system enrolling (28 then) Class A Commercial Banks from 22nd Nov, 2019.

As per the RTGS System Rules, 2019,  one of the guiding policy for RTGS based transaction in Nepal

Appendix - 7: Parameters and Limits ​

Parameter Value
Threshold for mandatory RTGS transaction (high value transactions) NPR 2 Million or above(or Equivalent currency)
Minimum limit for value of Credit Transfers in RTGS NPR 200,000 (or Equivalent currency)
Maximum number of days in advance of value date that a transaction can be submitted 10 days

Fund transfer via RTGS get settled instantly so it's most preferred choice of payment when the transaction amount is above NPR 2,00,000/-

Currencies Transacted

  1. Nepali Rupees (NPR)
  2. United States Dollar (USD)
  3. Great Britain Pound (GBP)
  4. Euro (EUR)
  5. Japanese Yen (JPY)

Normal Business Day

For Sunday – Thursday

Period Name Start Time End Time
Start of Day 10:00 10:15
Account House keeping 10:15  10:30
Morning Exchange period for Customer and Interbank payments 10:30 13:30
Afternoon Exchange period for Customer and Interbank payments 13:30 15:00
Evening Exchange period for Interbank payments 15:00 15:40
ILF Returns 15:40 16:10
Payment Cut-off 16:10 16:15
Report Generation and Reconciliation Period 16:15 16:45
Archiving 16:45 16:55
System stop 17:00

Summarized Business day

For Friday

Period Name Start Time End Time
Start of Day 10:00 10:15
Account House keeping 10:15 10:30
Morning Exchange period for Customer and Interbank payments 10:30 13:00
ILF Returns 13:00 13:30
Payment Cut-off 13:30 13:35
Report Generation and Reconciliation Period 13:35 14:00
Archiving 14:00 14:10
System stop 14:15

Fee and Charges

Transactions performed via RTGS are charged based on timing of transaction. So, it's indepenedent of amount you are performing transaction.

Time Schedule during Normal Business Day Fee (NPR)
For transaction settled in Morning Exchange 10
For transaction settled in Afternoon Exchange 20
For transaction settled in Evening Exchange 100
Special Membership for Clearing House/DNS Mechanism/Central Securities Depository/Organisation appointed by NRB 0

To promote digital transaction currenlty NRB has waived all transaction fees for RTGS transactions until further notice.

Source:

RTGS System Rules, 2019