As per the news published in a financial publication, RBI is redesigning its 'ECS' to function as a
A
Extra Closing System
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B
Electronic Cheque System
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C
Evening Cheque Sorter
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D
Electronic Clearing Service
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Solution
The correct option is D Electronic Clearing Service As per the news published in a financial publication, RBI is redesigning its 'ECS' to function as a Electronic Clearing Service. ECS is a electronic mode of payment service. It is mainly used to make bulk payments.