Go Back   2018-2019 StudyChaCha > StudyChaCha Discussion Forum > General Topics

Old March 18th, 2016, 11:00 AM
Super Moderator
Join Date: Nov 2011
Posts: 34,143
Default Re: NIFT Clearing

The State Bank of Pakistan is Implementing RTGS and one of key elements of change that will impact the clearing system is the centralized netting methodology.

RTGS System of NIFT

NIFT is preparing for this change.

The current approach involves decentralized netting at all cities; the new approach, as planned by the Payment Systems

Department of the State Bank of Pakistan, envisages a netting on country wide basis.

Currently NIFT’S systems create separate nets by city and submit the same to State Bank of Pakistan in each city and the relevant net position is debited / credited to banks’ current accounts in that city.

The new system will would require NIFT to collect nets from all automated centers and provide a consolidated net to the State Bank of Pakistan for entry into the RTGS system.

Hence, the countrywide net position will subsequently be debited / credited to banks’ current accounts in Karachi.

It may be relevant to mention that this will not effect other operations in the local current accounts of banks in any city

NETTING Details:

There will be two aspects of the countrywide netting procedure:

• As per the basic concept nets from all cities will be consolidated by product (Main Clearing, Same-day High-value clearing and Inter-city Clearing).

• Same-day high-value clearing and intercity will also be netted out further so that the position provided will be inward less return






Now I am providing you pdf file for NIFT clearing system of State Bank of Pakistan so that you can follow it.

NIFT clearing system of State Bank of Pakistan

Answered By StudyChaCha Member
Reply With Quote Quick reply to this message
Our Latest Videos
Sponsored Links


Reply to this Question / Ask Another Question
Your Username: Click here to log in


Forum Jump

All times are GMT +6.5. The time now is 05:42 AM.

Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2018, vBulletin Solutions Inc.
Search Engine Friendly URLs by vBSEO 3.6.0 PL2

1 2 3 4 5 6 7 8 9