Now get salary, pension credited on Sundays and bank holidays
NACH is a bulk payment system operated by the NPCI which facilitates one-to-many credit transfers such as payment of dividend, interest, salary, pension, as also collection of payments pertaining to electricity, gas, telephone, water bills, periodic installments towards loans, investments in mutual funds, insurance premium etc.
Are different fundraisings replacing bank credit?A negative growth in industry and slower growth in services segments limited the pace of overall expansion. “Because of surplus liquidity conditions, domestically as well as in overseas markets, the funding costs for stronger corporates have been much more competitive than bank loans,” said Anil Gupta, vice president - financial sector head, ICRA Ratings.
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