Answers

2016-04-12T11:59:29+05:30
Electronic clearing service.
it is an electronic mode of funds transfer from one bank account to another
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2016-04-12T12:00:32+05:30
ECS -Electronic Clearing System 
1-It is a service your bank provides when you need to transfer funds from one    bank account to another electronically.
there are two types
1-One is called the ECS credit
2-other is called the ECS debit

ECS credit is when an institution makes a credit to your savings account.

ECS debit is when you choose to make recurring payments, as EMI towards your loans, or SIP payments towards your mutual funds and the like. 

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