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Old February 11th, 2017, 10:01 AM
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Default Re: Union Bank of India ECS Form

Debit Clearing (Debit) The Scheme might be called '; Electronic Clearing Service (Debit).

The goal is to give an option technique to affecting installment exchanges in regard of the service charge installments, for example, phone charges, power charges, protection premia, card installments and credit reimbursements, and so forth., which would deter the requirement for issuing and dealing with paper instruments and in this way encourage enhanced client benefit by banks/organizations/companies/government offices, and so forth., gathering/accepting the installments.

Electronic Clearing Service (ECS)/National Electronic Clearing Service (NECS)/Direct Credit to Union Bank Account

SEBI has made it required for all the recorded companies to utilize the Bank Account subtle elements outfitted by the Depositories for distribution of profit

Through Electronic Clearing Service (ECS)/National Electronic Clearing Service (NECS) to the financial specialists, wherever ECS/NECS facility is accessible. In the

Non-attendance of ECS/NECS office, the Bank should print the Bank Account subtle elements, if accessible, on installment instruments for dispersion of profit to the financial specialists.

Notwithstanding over, the Bank has additionally given facility of credit of profit sum by method for Direct Credit of profit sum to the record of shareholders having their records with Union Bank of India.
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