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ECS: The smooth way to pay recurring bills
This system frees you from various kinds of hassles, like giving a cheque and remembering payment dates. Besides this, when you take a loan, then its
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Auto debit bounces in October at pre-Covid level
The unsuccessful auto-debit requests through the NACH platform are referred to as bounce rates in general
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Explained: Differences between ECS and auto debit
RBI's latest rule to be implemented from October 1 will impact the debit part of ECS and is limited to debit card and credit card transactions.
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Auto debit: New system should be simple
RBI needs to monitor the new system and tweak it if the need arises.
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FAQs on auto-debit facility rules from October 1
Here are some of the frequently asked questions relating to changes in auto-debit facility from October 1, 2021.
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New credit, debit card rules from October 1; check details
For all auto-debit transactions above Rs 5,000, RBI has introduced an Additional Factor of Authentication (AFA).
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These changes may impact your financial life from October 1
Money9 gives you a brief description of the changes that are coming into effect from October 1 and could impact your financial life
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Continuation of auto debit facility may expose customers to risk of frauds: Experts
In a sternly worded statement RBI has said failure to implement restrictions on auto debit beyond September will earn the banks strict supervisory act
