NMB Bank Rolls Out Real-Time Indo-Nepal P2P Remittance Service

Kathmandu; NMB Bank Limited has officially rolled out its real-time Indo-Nepal Person-to-Person (P2P) cross-border payment and remittance service. Operating as a key participating member bank, NMB Bank has introduced this facility in strategic partnership with Nepal Clearing House Limited (NCHL) to streamline instant retail fund transfers between Nepal and India.

The newly established cross-border linkage enables customers to perform immediate and direct electronic fund transfers from India straight into eligible personal accounts at NMB Bank and vice versa. By linking the clearing networks of both nations, the digital platform effectively eliminates the processing delays typical of traditional banking channels. 

To enhance user experience and lower cybersecurity barriers, the service introduces seamless digital deposits utilizing personalized Virtual Payment Addresses (VPAs). This eliminates the administrative burden of sharing lengthy bank routing or account numbers, mitigating manual transmission errors.

The infrastructure offers complete omnichannel convenience. Customers can manage and track cross-border receipts via active digital banking applications or opt for assisted physical support at any brick-and-mortar branch. The retail facility is designed to support household remittances and everyday personal fund transfers, backed by continuous, automated safety monitoring handled by NMB's backend systems.

At present, NMB Bank provides commercial financial services across the country through an expansive physical network consisting of 198 branches, 176 ATMs, and 9 extended counters.

The P2P network, structurally supported by the technical integration between Nepal Clearing House Limited (NCHL) and the National Payments Corporation of India (NPCI), links Nepal’s National Payments Interface (NPI) with India’s Unified Payments Interface (UPI) to formalize banking channels and curb informal financial networks.