Which of the following payment systems in India operates as a decentralized, automated clearing house primarily utilized for bulk transactions such as salary disbursements, dividend payments, and utility bill collections?

💡 Solution & Explanation

The National Automated Clearing House, managed by the National Payments Corporation of India, facilitates large-scale interbank electronic transactions for bulk processing. Alternative systems like the Real Time Gross Settlement focus on high-value individual transfers rather than batch collections. Such automated clearing mechanisms are essential for Direct Benefit Transfer implementations in government welfare programs.