To: All CPMSG
- It is hereby notified that India Post Payments Bank (IPPB) has successfully launched Electronic National Automated Clearing House (eNACH) services. This implementation introduces a more efficient, automated payment system to meet recurring financial needs for both Department of Posts (DoP)/IPPB staff and customers.
- Overview of eNACH Services:
The eNACH service allows users to automate recurring payments, such as those for loans, mutual fund contributions, monthly utility bills, etc. Through this feature, IPPB account holders can now:- Make automated payments for loan installments,
- Set up systematic investment plans (SIPs) for mutual funds, and
- Authorize other recurring payments directly from their IPPB accounts.
- Impact on Customer Experience:
The addition of eNACH services within IPPB is designed to enhance customer convenience and streamline recurring financial transactions. It will also support the growth and advancement of the national payment ecosystem. - Action Required:
All Circles are requested to disseminate information on the eNACH service launch within IPPB to all DoP employees, ensuring that the benefits of this new facility are widely communicated.
Yours faithfully,
Signed
Mithilesh Kumar Mandal
Assistant Director General (PBI-II)
Date: 28-10-2024 14:40:00
Copy to: CSMO, IPPB