Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: The Social Security Fund (SSF) has decided to electronically refund the contributors’ funds directly to their bank accounts. From now onward the amount which used to be returned to the beneficiaries through cheque will be issued automatically through online system.
According to SSF, it will refund the payments of its various plans and programs by utilizing NCHL’s National Payments Interface through Rastriya Banijya Bank.
It has arranged to deposit the amounts related to subsidy as well as other schemes like fund of dependent family, accident and disability protection, medical treatment, health and maternity protection scheme through online system.
The amount linked with NPI will be deposited through Connect IPS e-payment in real time and through NCHL IPS in non-real time.
SSF will refund the amount as per the beneficiary’s claim request along with a submission of their bank account details.
Through this, the fund has collected a total amount of Rs 1.7 billion from more than 10,000 transactions.
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