NACH & MMS
NACH is a centralized electronic payment system that allows for the bulk transfer of funds across India, primarily for processing payments like salaries, pensions, utility bills, loan EMI payments, and more. It is a reliable, efficient, and cost-effective way to handle both credit and debit transactions in a seamless manner.
MMS is a mobile-based service that allows you to send, receive, and manage money using your mobile phone. MMS provides an accessible, quick, and efficient way to perform financial transactions, especially for users without access to traditional banking infrastructure.
National Automated Clearing House (NACH) is a centralised system, launched by NPCI for facilitating interbank high volume debit/credit transactions, which are repetitive in nature in electronic mode. This is the upgraded version of Electronic Clearing Services (ECS) to National level.
Mandate Management System - MMS allows banks to accept, digitize, process and send the mandate to other banks for acknowledging and registering customer instruction to debit his account with other bank through NACH. After acknowledging by other bank each mandate is allotted with Unique Mandate Reference Number (UMRN). By quoting the UMRN number on specified intervals bank claims the fund from other bank and credit the same to customer account.