Economics • Banking & FinanceEasy
Which organization in India operates the 'National Automated Clearing House (NACH)' for bulk and recurring transactions?
A. Securities and Exchange Board of India (SEBI)
B. National Payments Corporation of India (NPCI)✓ Correct Answer
C. State Bank of India (SBI)
D. Ministry of Finance
💡 Solution & Explanation
The National Automated Clearing House is a centralized payment system operated by the National Payments Corporation of India to support bulk interbank electronic transactions. It simplifies recurring payments such as salaries, dividends, and utility bills across banking networks.
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