3) National Automated ClearingHouse (NACH) is a centralisedclearing system launchedby the NPCI. It aims to replaceand consolidate multiple existingElectronic Clearing Service(ECS) systems across India andcreate a faster and more efficientclearing platform. NACHis useful for corporate and financialinstitutions that makepayments in bulk like dividendsdistributions, salaries,interests, pensions, etc.