FAQs

Functions on ISO20022 Messaging Standard.

Online Dispute Management System (DMS).

Transaction files status tracking with ACK/NACK.

Allows multiple file processing in a single settlement.

Allows partial file processing resulting in reduced operational efforts.

Availability of Recall option before the settlement of the transaction.

Scalable system with capacity to process 10 million transactions per day.

Scope of services encompass beyond the existing 90 ECS clearing centers.

Secure web access for file upload/download, dissuading the concept of regional NCC/Clearing House submissions.

Allows corporate clients to directly upload files using the Direct Corporate Access (DCA) facility with sponsor bank control.

Corporates can get direct access of the NACH Credit using the DCA facility, making it easier to check the status of their transactions without delay.

Some of the benefits of NACH Credit but not limited to include:

Customized MIS to banks.

Scope of multiple intra-day sessions.

Digitally secured transaction files with 4 eye concept.

Reduced operational cost for the banks and its customers.

Allows online end to end monitoring of the transaction files.

Online Dispute Management System (DMS) allows tracking of the transaction dispute.

Standardization of the process allowing complete audit trail of the transaction lifecycle for a period of 10 years.

DCA facility leads to reduction in workload of the sponsor banks, since the file upload will be done by the corporates themselves.

Effective relationship management with banks as well as corporate customers resulting in enhanced customer service and support.

Yes. Banks and Corporates willing to participate in NACH Credit need to comply with the following requirements as well:

Network connectivity with NPCI (NPCINet or Internet connectivity)

Public Static IP Address for Internet connectivity

Digital Signature Certificate (Class 2 or Class 3)

Signing Tool

Yes. NPCI facilitates the participation of Corporates on NACH Credit through the Direct Corporate Access (DCA) module with sponsor bank’s control.

Yes. Corporates require Class 2 Digital Signature Certificates for the individual users. The same can be procured from any of the authorised CAs. Digital Signature Certificate is required for digitally signing the NACH Credit files.

Yes. Banks require a Signing Tool enabled with PKCS#7 algorithm to participate in NACH Credit.

Yes. Corporates require a Signing Tool enabled with PKCS#7 algorithm to participate in NACH Credit.

Signing Tool is used for the encryption and decryption of the transaction files which are uploaded/download in the NACH Credit. The Signing Tool should be configured with RAW or PKCS#7 algorithm.

The session timings for NACH Credit (156 character file format) and NACH Credit (306 character file format) are as follows:
NACH Credit (156 Character File Format) Presentation and Return Timings:

Weekdays, Presentation: 10:00 AM - 06:00 PM, Return: 10:00 AM - 04:00 PM

Saturday, Presentation: 10:00 AM - 02:00 PM, Return: 10:00 AM - 02:00 PM

NACH Credit (306 Character File Format) Presentation and Return Timings:

Weekdays, Presentation: 10:00 AM - 12:30 PM, Return: 03:00 PM - 05:00 PM

Saturday, Presentation: 10:00 AM - 11:30 AM, Return: 02:00 PM - 03:00 PM

The settlement for NACH Credit (156 character file format) takes place on T-7 basis. The input files for NACH Credit (156 character file format) are accepted till the previous day for the next day settlement, while the returns would happen on the settlement date. The settlement for NACH Credit (306 character file format) takes place on T+0 basis.