New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Which is not correct about (National Automated Clearing

    House (NACH)? 
    A NACH is a centralised clearing system launched by the National Payments Corporation of India (NPCI). Correct Answer Incorrect Answer
    B NACH aims to replace and consolidate multiple existing Electronic Clearing Service (ECS) systems across India and create a faster and more efficient clearing platform Correct Answer Incorrect Answer
    C NACH will reduce the turnaround time required for activation of ECS mandates and will simplify Aadhar-based benefit transfers Correct Answer Incorrect Answer
    D NACH system facilitates the member banks to design their own products and also addresses specific needs of the banks & corporates including a refined Mandate Management System (MMS) Correct Answer Incorrect Answer
    E All are correct Correct Answer Incorrect Answer

    Solution

    The correct answer is E

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