ACH/ABPS

ACH

Automated Clearing House

• The ACH Network is the moving money and information from one bank account to another through Direct Deposit and Direct Payment via ACH transactions, including ACH credit and debit transactions;
• The ACH Network is a batch processing system in which financial institutions accumulate ACH transactions throughout the day for later batch processing.

ABPS

Aadhaar Payment Bridge System

• Pre supposes that all Government beneficiaries would have Aadhaar linked account number
• APBS will receive the disbursal payment instruction from the Government Departments through Sponsor Bank – (Banks has ability to convert in the required format)