New rules for salary, pension, EMI payment applicable from August 1! Check how THIS RBI latest rule will benefit you

NACH, a bulk payment system operated by the National Payments Corporation of India (NPCI) facilitates one-to-many credit transfers such as payment of dividend, interest, salary and pension.

New Delhi: Reserve Bank of India (RBI) had in June announced that National Automated Clearing House (NACH) will be available on all days of the week, effective August 1, 2021. What is National Automated Clearing House (NACH)? NACH is a bulk payment system operated by the NPCI. It facilitates one-to-many credit transfers such as payment of dividend, interest, salary, pension, etc., as also collection of payments pertaining to electricity, gas, telephone, water, periodic instalments towards loans, investments in mutual funds, insurance premium, etc.