Question

Which of the following statements best describes the nature of the National Automated Clearing House (NACH) implemented by the National Payment Corporation of India (NPCI)?

• A. It is a web-based solution to facilitate interbank, high volume, electronic transactions which are repetitive and periodic in nature
• B. It is utilised to modify in real time individual transactions between bank accounts
• C. It facilitates direct government disbursements to beneficiaries under various schemes
• D. It is an RBI mobile app to facilitate international wire transfers and foreign remittances

Answer 1

The Correct Option is A

The National Automated Clearing House (NACH) is a web-based platform used to manage high-volume, repetitive, and periodic interbank transactions, especially for purposes like recurring payments and direct debits.
Thus, the correct answer is Option (A).