ECCS – NPCI Circular

ECCS – NPCI Circular

With 1000+ Clearing Houses in India, it is a herculean task, to migrate all the Clearing Houses to ECCS.

ECCS is picking up tempo.

The NPCI Cir. No. is NPCI/ ECCS/2011-12/0807   dt.07/07/2011 and is addressed to The Chairman and Managing Director/Chief Executive Officer of All Scheduled Commercial Banks including RRBs/Urban 

Cooperative Banks State Co-operative Banks/ District Co-operative Banks

The original ECCS circular states that Non-MICR centres will be migrated from the present MMBC to ECCS. MMBC is also present in MICR centres, wherein the ‘Return’, Clearing is conducted on MMBC. Hence, even in 

MICR centres, ECCS has to be introduced.

During the last couple of months, the ECCS awareness is picking up. This is reflected in the increase in the search strings for ECCS in Google and other search engines.

 Originally, it was envisaged that the complete roll-out Pan India, should be over by 30^th September, 2011. Yes, this was an ambitious target. A mid course survey in July 11, by the concerned stake holders i.e NPCI, showed that the progress was not on the intended timelines.

To speedup the roll-out process, NPCI has released 3 Annexures.

 Annexure  I  contain a small write up on ECCS.

 Annexure-II lists out the requirements for a Clearing House Managing Bank

Annexure-II lists the requirements for participation in ECCS for a member bank in the Clearing House  

The best part of the Annexure is the copy of the Purchase Order placed by Manmad Banker’s Clearing House.

NPCI has advised clearing houses to place a collective purchase order on behalf of the Clearing House members with Image Infosystems, the Vendor  of ECCS.

A single purchase order, by the respective clearing houses is a better option, than individual Banks placing the Purchase Order with the Vendor.  

The logistics and the receivable’s are otherwise un-manageable.

The payment to the Vendor is to be released only when ECCS goes live. This minimizes the risks to individual bank’s as the Clearing House can take a collective decision.