Computer Science, asked by HMurmu1044, 1 year ago

Explain Concept of ECS Credit with example

Answers

Answered by SanskarPatel1111
0

Explanation:

what is ecs?

It is a mode of electronic funds transfer from one bank account to another bank account using the services of a Clearing House. ... ECS (Credit) is used for affording credit to a large number of beneficiaries by raising a single debit to an account, such as dividend, interest or salary payment.

example of ecs?

Examples for bulk collection of amounts includes telephone / electricity / water bills, cess / tax collections, loan installment repayments, periodic investments in mutual funds, insurance premium, etc.

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