Thursday 7 April 2011

What are the types of ECS? In what way they are different from each other?


There are two types of ECS called ECS (Credit) and ECS (Debit).
                     
ECS (Credit) is used for affording credit to a large number of beneficiaries by raising a single debit to an account, such as dividend, interest or salary payment.
ECS (Debit) is used for raising debits to a number of accounts of consumers/ account holders for crediting a particular institution.

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