ECS

 

  • ECS is a electronic mode of payment or receipt for transactions that are periodic and repetitive in nature.
  •  Used by institutions for making bulk payments of amount towards distribution of dividend, interest, salary, pension etc.
  • It can also be used to pay bills and other charges such as telephone, electricity, water or for making equated monthly installments on loans.
  •  ECS can be used for both credit and debit purposes.

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