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11/22/13 India Post | Financial Services | Money Remittance
Services | Electronic Clearance Service (ECS)
www.indiapost.gov.in/ecs.aspx
| English
Locations where RBI is
managing ECS
Locations where SBI is
managing ECS
Home Financial Services Money Remittance Services Electronic
Clearance Service (ECS)
Electronic Clearance Service (ECS)
The Electronic Clearance Service (ECS) scheme provides an
alternative method of effecting bulk payment transactions like
periodic (monthly/ quarterly/ half-yearly/ yearly) payments of
interest/ salary/ pension/ commission/ dividend/ refund
byBanks/Companies /Corporations /Government Departments. The
transactions under this scheme move from a single Us er
source (i.e. Banks/Companies /Corporations /Government
Departments) to a large number of Destination Account Holders
(Customers/Investors). This s cheme obviates the need for
issuing and handling paper instruments and thereby facilitates
improved customer s ervice by the Banks and Com
panies/Corporations/Government Departments effecting bulk
payments.
The Scheme is in operation at 15 centres where Res erve Bank of
India manages C learing Houses , 21 centres where SBI is
managing ECS on behalf of RBI and 29 other centres where PNB and
other banks are m anaging ECS on behalf of RBI.
The ECS is being offered in the Department of Posts in
connection with payment of monthly interest under Monthly
Income
Scheme (MIS). The Department of Posts introduced ECS scheme on a
pilot basis in Mumbai City on 9th August 2003.
Under ECS, the depositors have the facility of getting MIS
interest automatically transferred and credited into their SB
account on the due dates at the des ignated Bank of their
choice. Currently, the service is available in the Department
of
Posts at 15 RBI locations and 21 SBI locations as given
below.
Locations where RBI is managing ECS:
1. Ahmedabad (Gujarat)
2. Bangalore (Karnataka)
3. Bhubaneswar (Orissa )
4.Kolkata (West Bengal)
5. Chandigarh (Punjab)
6. Chennai (Tamil Nadu)
7. Guwahati (Ass am)
8. Hyderabad (Andhra Pradesh )
9. Jaipur (Rajsthan)
10. Kanpur (Uttar Pradesh)
11.Mumbai (Maharashtra)
12. Nagpur (Mahrashtra)
13. New Delhi
14. Patna (Bihar)
15. Thiruvananthapuram (Kerala)
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11/22/13 India Post | Financial Services | Money Remittance
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www.indiapost.gov.in/ecs.aspx
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Locations where SBI is managing ECS:
1. Shimla (Himachal Pradesh)
2. Nashik (Maharashtra)
3. Panaji (Goa, Maharashtra)
4. Calicut (Kerala)
5. Thrissur (Kerala)
6. Jabalpur (Madhya Pradesh)
7. Jodhpur (Rajasthan)
8. Pondicherry (Tamil Nadu)
9. Tiruchirapalli (Tamil Nadu)
10. Durgapur (West Bengal)
11. Hubli (Karnataka)
12. Dehradun (Uttaranchal)
13. Siliguri (West Bengal)
14. Burdwan ( West Bengal)
15. Baroda (Gujarat)
16. Surat (Gujarat)
17. Sholapur (Maharashtra)
18. Gwalior (Madhya Pradesh)
19. Tirupur (Tamil Nadu )
20. Raipur (Chhattisgarh)
21. Ranchi (Jharkhand)
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Communications & Information Technology, Government of
India
Last Updated on 21s t November 2013
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