N.A.C.H

Our Bank Provide all Service under the National Automated Clearing House (N.A.C.H)
 

National Payments Corporation of India (NPCI) has implemented “National Automated Clearing House (NACH)” for Banks, Financial Institutions, Corporates and Government a web based solution to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature. 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.

 

Objectives of NACH

 

The NACH system facilitates end-to-end processing of bulk electronic payment instructions with the following objectives:

 
  • Create a national eco-system covering all bank branches for processingelectronic payment instructions.
  • Provide a technology platform to banks to route the debit / credit instructionsthrough NPCI using different routing codes like IFSC Code / MICR Code / IINCode or any other code as may be decided from time-to-time.
  • Provide Direct Corporate Access (DCA) to select Corporates/ GovernmentDepts., major user institutions and third party to NPCI NACH system.
  • Provide a sound mechanism for settlement, exceptions handling, processing of
    returns, rejects, reversals, refunds, revocations, holidays management,
    unwinding, dispute handling etc.
  • Maintain a robust Aadhaar number to Institution Identification Number (IIN)mapper with related governance mechanism.
  • Create a robust Mandate Management and related governance mechanism.