ECS (Electronic Clearing Service) : ECS is an electronic mode of payment / receipt for transactions that are repetitive and periodic in nature.
Regional ECS : RECS facilitates the coverage of all core banking - enabled branches in a State or group of States. The system takes advantage of the core banking systems in banks.For the debit to go through under RECS , core banking account is a MUST.
Direct Debit : This is a direct arrangement with the bankers for debit into account of Investors. For the debit to go through vide Direct Debit , core banking account is a MUST.
Post Dated Cheques (PDC) :Post Dated Cheques is another mode of applying through SIP (Preferable only if the bank and location of the Investor do not form a part of Direct debit bank liSt / ECS / RECS location list)