Under direction of RBI that from 1st April 2016 the clearing of cheques would be done on the same day in house where cheque is deposited i.e. with any Bank whether Nationalised & co - operative etc. and while screening if there is insufficiency of fund the bounced chq cannot be represented again & payee if need be will have to file legal complaint under section 138 System will change Take care of cheques issued 1- ECS will be replaced with NACH from 01/04/2016. 2- Kindly ensure that all ECS payment to be made through till 31/03/2016. 3- NACH stands for National Automated Clearing House. About NACH- National Payments Corporation of India (NPCI) has implemented “National Automated Clearing House (NACH)” for Banks, Financial Institutions, Corporates and Government a web based solution to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature. NACH System can be used for making bulk transactions towards distribution o...