Question

Which one of the following is/are the major differences

between National Automated Clearing House (NACH) & Electronic Clearing Service (ECS)? I- NACH provides same day presentation & settlement whereas in ECS it takes more than 3 days. II- In NACH the number of rejects is less. III- Unlike ECS, NACH’s mandate verification is not done physically.

A Only I

B Only II

C I & II

D II & III

E All of the above