Home Alphabetical NACH Full Form In Banking

NACH Full Form In Banking

NACH Full Form
Nach full form, Nach meaning, Nach full form in banking, Full form of Nach, Nach means, Nach ka full form, Nach mandate meaning, Nach meaning in banking, Nach long form, Nach definition, Define Nach, Nach stands for, Nach cr inw full form, Nach meaning in tamil, Nach cr inw meaning in Hindi, Nach cr inw means, Full form of Nach in banking, Nach ka full form in Hindi, Nach payment meaning, Nach meaning in Telugu,
- Advertisement -

NACH Full Form is National Automated Clearing House

NACH means National Automated Clearing House. This system was implemented by the National Payment Corporation of India for financial institutions, banks, corporate setups, etc. It is working as a web-based system. It is used for electronic, bulk, periodic as well as repetitive nature payment transactions. It is used for various reasons like collections of payments, salaries, dividends, subsidies distribution, etc. NACH is a middleware designed to integrate the many electronic clearing programs operating throughout the country. It provides a framework for harmonizing standards and practices for ECS. The NACH system will be national in scope and should include all branches suitable for large banks across the country, regardless of the banking sector.

How useful was this post?

Click on a star to rate it!

- Advertisement -

Average rating / 5. Vote count:

No votes so far! Be the first to rate this post.

See also  What is the HMM Full Form
- Advertisement -