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 types1-One is called the ECS credit2-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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