<P> According to the service's website, "NACH System can be used for making bulk transactions towards distribution of subsidies, dividends, interest, salary, pension etc. and also for bulk transactions towards collection of payments pertaining to telephone, electricity, water, loans, investments in mutual funds, insurance premium etc ." </P> <P> Electronic Clearing Service, or ECS, is an electronic clearing service that facilitates funds transfer between bank accounts . The service was started by Reserve Bank of India providing, both, debit and credit which can be used to pay utility bills . </P> <P> NPCI has categorised members of NACH system in three entities: </P> <P> Sponsor Banks are allowed to originate transactions the system required, they have a mutual agreement with NPCI and also are members of any payment system approved by the Reserve Bank of India . </P>

When was ecs replaced by nach with year