Electronic Clearing Service ( definition
Electronic Clearing Service ( debit clearing or ECS)” shall mean the debit clearing service notified by Reserve Bank of India, participation in which has been consented to in writing by the Cardmember for facilitating payment of outstanding dues in the Card Account.
Electronic Clearing Service ( or ‘ECS' or 'NACH', means the electronic clearing services and electronic payment services, notified by RBI from time to time, being mode(s) of effecting payment transactions using the services of a clearing house or any other platform or mechanism duly authorized in this regard including without limitation the National Electronic Clearing Service;
Electronic Clearing Service ( or “ECS” shall mean electronic clearing service utilised for transactions for debit clearing and credit clearing, as the case may be, in terms of the regulations and directions issued by the Reserve Bank of India or any regulatory or statutory body, from time to time;