31 October 2009 ~ Comments Off

Electronic Clearing System (ECS) Processing

Managing PDCs becomes a critical task in the finance business since PDCs often form the most largely used instrument of payment. In recent years, the move is towards Electronic Clearing Systems (ECS). ECS removes the burden of maintaining, storing and presenting a physical paper cheque. Until such time that this instrument (ECS) becomes the preferred mode of repayment, businesses much effectively deal with PDCs.

ECS Cheque’s Posting(single/multiple), Clearing/Bouncing, Rollback operations are similar as PDC operations.  To view complete PDC process life cycle please visit http://screenr.com/Hy8

The video below shows the processing of an ECS case and generation of ECS file as per RBI prescribed format.

If you can't see the video above, visit http://screenr.com/DRN

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