Electronic Clearing Service(ECS)ECS was launched by the RBI for facilitating the bulk transfer of funds from one bank account to another bank account. Loan providers use this facility to debit loan EMIs on a fixed date from the bank account of the borrower. This is done with the help of a clearinghouse. In India, ECS debit is mostly handled by the NACH (National Automated Clearing House) which works under NPCI (National Payments Corporation of India). 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 (D ebit) is used for raising debits to a number of accounts of consumers/ account holders for crediting a particular institution.