The company was forced to suspend services on December 30 after the Commission of Investigation of Abuse of Authority (CIAA) issued an order asking it to halt all its work following a complaint that said the NCHL had paid US$1.3 million (Rs 108 million) to install check clearing
software which “could be bought for Rs 30 million”. [break]
However, on Wednesday, the CIAA issued another order saying the clearing house can resume operation while the investigation is going on.
“As per this instruction, we are allowing our customers to gain access to our system from Friday,” Neelesh Man Singh Pradhan, CEO of the NCHL, told Republica.
The NCHL on December 29 had launched electronic check clearing service for the first time in the country. The service, which is currently
limited to clearing foreign currency denominated checks only, is said to bring down the time of settling payment by means of check to few hours from up to two days.
The NCHL charges Rs 5 on clearance of each check between Rs 501 to Rs 5,000, and Rs 10 on clearance of checks more than Rs 5,000. Checks of up to Rs 500 are cleared for free.
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