NACH

• NACH means National Automated Clearing House

• Implemented by NPCI (National Payments Corporation of India)

• This is meant for high volume repetitive payment scenarios

• NACH provides robust, secure and scalable platform for payment processing

• The customer provides the mandate to the agencies to which they need to make payments on regular basis

• The mandate is registered with the agencies through NPCI

• On the due date the NPCI generates the demand and sends the debit intructions

• This is a fully automated process

• NACH System can be used for making bulk transactions towards distribution of subsidies, dividends, interest, salary, pension etc

• And also for bulk transactions towards collection of payments pertaining to telephone, electricity, water, loans, investments in mutual funds, insurance premium etc

• Mandate Management System (MMS) and an online Dispute Management System (DMS) coupled with strong information exchange and customised MIS capabilities