What is eNACH Digital Payment System ? || e-NACH and e-Mandate for Recurring Payments

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"eNACH" stands for "electronic National Automated Clearing House," and it is a digital payment system used in India for online fund transfers between bank accounts.

eNACH facilitates the electronic transfer of funds from the bank account of the payer to the bank account of the beneficiary. It is a type of National Automated Clearing House (NACH) that enables the automation of bulk transactions such as monthly bill payments, loan EMI payments, and investments.

The eNACH system is managed by the National Payments Corporation of India (NPCI), which is an organization created by the Reserve Bank of India (RBI) to promote digital payments in the country. The eNACH system is secure, efficient, and cost-effective, making it a popular choice for various types of electronic transactions in India.