NACH (National Automated Clearing House)

NACH (National Automated Clearing House) is an electronic payment system in India that facilitates bulk credit and debit transactions. It is primarily used for automated, large-scale payments such as salary credits, utility bill payments, and loan repayments.

• Function: NACH enables the seamless transfer of payments between banks and financial institutions.
• Types: Includes NACH Credit (for payments like salaries) and NACH Debit (for recurring payments like EMIs).
• Benefits: It ensures fast, secure, and efficient processing of bulk transactions.