Recently introduced by National Payments Corporation of India (NPCI), the ‘NACH’ is a centralized ____________

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1. $NACH$ stands for National Automated Clearing House, launched by $NPCI$ to streamline interbank bulk transactions.

2. It centralizes processing of recurring and bulk electronic payments such as salaries, dividends, pensions, utility bills and mandates.

3. The primary function and design of $NACH$ is to act as an electronic clearing and settlement mechanism that replaces and consolidates earlier systems for bulk electronic transfers.

4. Key features — centralized processing, mandate management, bulk credits and debits — confirm that $NACH$ is a centralized electronic clearing system.

FINAL_ANSWER: c

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