Question
In the context of dividend distribution, what is the
full form of ECS?Solution
Explanation: ECS is an electronic mode of payment / receipt for transactions that are repetitive & periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, etc.
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