NACH (National Automated Clearing House)

NACH is a centralized web-based clearing service developed by the National Payments Corporation of India to allow interbank, large volume, low value, periodic electronic transactions. It is designed to combine numerous ECS systems that were operating across the country. It also provides a framework for the harmonization of standards & practices and removes local barriers/inhibitors and, is expected to cover the entire core banking enabled bank branches, spread across the geography of the country, irrespective of the location of the bank branch.

The fundamental function of the NACH system is to initiate bulk transactions towards the distribution of subsidies, dividends, interest, salary, pension, etc.

Special Features

1. The NACH system provides participants with a strong, secure, and scalable platform that supports transaction and file-based transaction processing.

2. It has best-in-class security features, cost efficiency & payment performance (STP), coupled with a multi-level data validation facility accessible to all participants across the country.

Details

1. The NACH System is a web-based solution for facilitating interbank, high volume, repetitive, and periodic electronic transactions that can be used for making bulk transactions for the distribution of subsidies, dividends, interest, salary, pension, and so on, as well as bulk transactions for the collection of payments for telephone, electricity, water, loans, investments in mutual funds, insurance, and so on.

2. The NACH system facilitates the member banks to design their products and also addresses specific needs of the banks & corporate’s including a refined Mandate Management System (MMS) and an online Dispute Management System (DMS) coupled with strong information exchange and customized MIS capabilities.

*Terms and Conditions Apply