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What is ECS (Debit) scheme?

Debit ECS Scheme
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What is ECS (Debit) scheme?

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Ans. It is a scheme under which an account holder with a bank can authorise an ECS user to recover an amount at a prescribed frequency by raising a debit in his account. The ECS user has to collect an authorisation, which is called ECS mandate for raising such debits. These mandates have to be endorsed by the bank branch maintaining the account.

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