11 India NACH Credit
The National Payments Corporation of India (NPCI) has implemented an electronic payment service termed as “National Automated Clearing House (NACH)” for banks, financial institutions, Corporates and Government Departments. NACH has both Debit and Credit variants. NACH (Debit) & NACH (Credit) aims at facilitating interbank, high volume, debit/ credit transactions, which are bulk and repetitive in nature.
Sponsor Bank receives ACH Credit Input files in NPCI format (pacs.008.001.02) from customers. It should be possible in OBPM to upload and process these files, debit the customer account and forward the ACH Input files generated on dispatch to NPCI.
ACH Inward file received from NPCI is uploaded and processed by the Destination Bank. It should be possible to process the transactions received in the Inward file.
To support India NACH Credit, ACH CT payment type is used with the related processing.