Debit Clearing definition
Debit Clearing hereinafter referred to as ‘ACH’, means the Debit Clearing Service notified by the Reserve Bank of (India), participation in which has been consented to in writing by the Borrower for facilitating payment of installments.
Debit Clearing or “ECS” means debit clearing services notified by Reserve Bank of India, participation in which has been consent to in writing by the Borrower(s) for facilitating payment of installments as more particularly set out in the Schedule 1: Loan Summary.