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The National Payments Corporation of India (NPCI), the umbrella organisation for all retail payments system in the country crossed a major milestone of bringing 1000 banks under its network for one of its key services - National Automated Clearing House (NACH) system.
NACH is a centralized system launched with an aim to consolidate multiple ECS (Electronic Clearing Service) systems running across the country in a decentralised manner. It is a web based solution which facilitates interbank,...