Recurring Payment Mandate NACH

Name: Recurring Payment Mandate NACH
Rating: 4.3 (17 reviews)

Business oriented course - on NACH in India Direct Debit Digital Payments

Created byGlobal FinTech Academy

Last updated 8/2023

English

What you'll learn

What is NACH in India
Get overview and understanding of NACH and Aaadhar Payment Bridge System in India
Features and Benefits of NACH in India
National Automated Clearing House (NACH)

Course content

7 sections • 15 lectures • 1h 41m total length

NACH in India and NACHA in US, Similarities and Differences12:28
Compare NACH in India and NACHA in the US to highlight similarities in consolidated electronic payments, Aadhaar-based transfers, and differences in terminology and regulation.
Benefits of NACH5:12
Learn how NACH standardizes and digitizes mandates, creates an auditable trail, enables direct corporate access, reduces costs, and enables same-day processing across branches using ISO 20,022.
Features of NACH8:51
Discover NACH features, including ISO 20022 messaging, debit mandates, mandate management, sponsor banks, PCI-based file exchanges, and settlement, with online dispute management and unique mandate references.

NACH - Mandate Management System (MMS)10:42
Explore how the Nach mandate management system certifies banks, manages mandates through creation, amendment, and cancellation, and uses a unique mandate reference number to register consent before debits.
NACH Participants3:38
Identify the five key participants in India's nach: corporate as originator, sponsor bank, destination bank (dfi), customer, and government transfers, and show how PCI Net connects them to execute mandates.
NACH Mandate Transaction Flow Diagram. NPCI (India)7:32
Explore the NACH mandate transaction flow in India, detailing how customers create mandates, sponsor banks verify data, and destination banks handle consent, signatures, and debit settlements.
NACH Transaction Status Files3:19
Explain the three NACH status files, accepted, rejected, and negative acknowledgement, and how partial processing can occur with rejection codes indicating reasons such as incorrect account details or insufficient funds.

NACH file flow, Host to Host process8:12
Explore the NACH file flow and host to host process, from sponsor bank to destination bank, through input, inward, and IPN files with four-eyes and digital signature controls.
NACH Debit (Deduct) Transaction process flow2:27
Explore the NACH debit transaction process flow, from sponsor bank instruction file and mandate checks to approval codes, status file, and settlement under clearing and settlement cycles.
NACH Credit (Deposit) Transaction process flow3:25
Explain the Nach credit flow: sponsor bank uploads the credit instruction and validates the mandate. Funds settle via spca to the destination bank, with rejection and reversal if needed.
NACH Settlement Bank Account, Process and Sub-Membership5:38
Explain how nach settlements occur via rbi deposit accounts, with each bank maintaining a settlement account, and how sponsor banks enable sub-membership for smaller banks uploading 156-character files.

Aadhaar Payment Bridge System (APBS) Direct Benefit Transfer (DBT)9:31
Explain how the Aadhaar payment bridge system (APBS) links Aadhaar numbers to bank accounts to enable direct benefit transfers (DBT) through NPCI, while verifying and updating mappings and liability.
Few important points about Aadhaar Payment Bridge System (APBS)5:56
Explore how the Aadhaar Payment Bridge System (APBS) routes government subsidies to the latest bank account linked to a phone number or Aadhaar, with rules for bank selection and transaction outcomes.

Requirements

Basic understanding of digital payments
To learn and reflect on the discussed points

Description

Unlock the Power of Automatic Payments: NACH and Aadhaar Payment Bridge System

Discover the time-tested, cost-effective, and widely popular method of handling recurring payments for utility bills, loan EMIs, salaries, social benefits, and various other periodic financial transactions. Automatic payment systems for recurring obligations and receivables have become a staple in numerous countries, appealing to individuals of all age groups.

In this dynamic course tailored for businesses, we will embark on an enlightening journey to uncover the intricacies of NACH and the Aadhaar Payment Bridge System (APBS) in India.

Please note that this course does not delve into technical integration, programming, or bank account entries, as it focuses on a comprehensive overview. If you're seeking in-depth technical knowledge, we offer separate courses on NACHA, NACH, and Bacs.

Here's a glimpse of what you'll explore in this course:

Delve into the world of NACH in India: Understand its features, benefits, and the Mandate Management System
Decode ISO 20022 Messaging: Uncover the messaging standards that underpin direct debit in the NACH framework
Navigate NACH Participant Roles: Gain insights into the roles of different participants in the NACH ecosystem
Follow the NACH Mandate Flow: Explore the journey of mandates in the NACH framework
Grasp File Flows: Learn about different file types and their flow within NACH
Demystify Host-to-Host Processes: Understand the behind-the-scenes operations of host-to-host interactions in NACH
Track Debit and Credit Transactions: Examine the transaction processes for both debit and credit transactions in NACH
Explore Settlement Accounts: Discover the accounts responsible for settlement within the NACH system
Illuminate Aadhaar Payment Bridge System (APBS): Understand the critical components and processes of APBS, including Aadhaar-Based Direct Benefit Transfer (DBT)
Tackle Risks and Challenges: Gain insights into the potential risks and challenges associated with Automated Clearing House (ACH) systems like NACH

This course is your gateway to understanding the critical backbone of automated payments in India, offering you a holistic view of NACH and the Aadhaar Payment Bridge System.

Take a moment to review the course overview before enrolling, and get ready for an enriching learning experience.

Join us for an exciting exploration of the world of digital payments!

Warm Regards,

Team - Global FinTech Academy

"Our unwavering commitment is to provide our students and clients with top-tier training, marked by quality and excellence, consistently earning us 5-star ratings."

Who this course is for:

Non-Technical product managers and professionals
Students who want to learn about NACH in India

Recurring Payment Mandate NACH

What you'll learn

Explore related topics

Course content

NACH in India3 lectures • 27min

ISO 20022 message codes for the mandate1 lecture • 7min

NACH Participants and Transaction flow4 lectures • 25min

NACH file flow, Host to Host process and Digital Signature (DSC), Maker, Checker4 lectures • 20min

Aadhaar Payment Bridge System (APBS) Direct Benefit Transfer (DBT)2 lectures • 15min

Risks and Challenges in ACH and NACH1 lecture • 7min

Lets Revise, Quiz0

Requirements

Description

Who this course is for: