Banking Term: Electronic Clearing Service (ECS)

Find important banking term that is useful in upcoming banking exam.

Created On: Mar 16, 2015 15:35 IST

The RBU has introduced a new electronic payment scheme called ‘Electronic Clearing Service’.

This system allows companies, government department, and institutions, which have to make bulk payments in the form of dividend warrants and interest payment on bonds to investor to transfer the proceeds electronically to the customers’ banks accounts.

Jagran Play
रोमांचक गेम्स खेलें और जीतें एक लाख रुपए तक कैश
ludo_expresssnakes_ladderLudo miniCricket smash
ludo_expresssnakes_ladderLudo miniCricket smash

Related Categories

Related Stories

Comment (0)

Post Comment

2 + 9 =
Post
Disclaimer: Comments will be moderated by Jagranjosh editorial team. Comments that are abusive, personal, incendiary or irrelevant will not be published. Please use a genuine email ID and provide your name, to avoid rejection.