Nach: – National Automated Clearing House

NACH – National Automated Clearing House: What is NACH ? Here we have provided the complete details on the National Automated Clearing House ( NACH ). This is an important banking awareness topic for the candidates preparing for the various bank exams. The banking awareness section has many topics to cover for the exam preparation. A candidate who covers more topics in a thorough manner will get a chance to win the competitive exam battle. Here we have covered complete details about NACH . The ... NACH is mainly used for recurring payments such as loan EMIs such as a Home Loan and Business Loan, utility bills, insurance premiums and investments. It plays a key role in modernising banking by ensuring smooth, automated and timely settlement of transactions. NACH is a web-based solution for interbank, high volume, electronic transactions that are repetitive and periodic. It is implemented by NPCI and covers the entire core banking-enabled bank branches in India. DBT Programme: NACH is established to remove the hardships government use to face while transferring the benefits to the actual recipient, Direct Benefit Transfers under various schemes are possible due to NACH ’s Aadhaar Payment Bridge (APB) mechanism.