The session timings for NACH Credit (156 character file format) and NACH Credit (306 character file format) are as follows:
NACH Credit (156 Character File Format) Presentation and Return Timings:
Weekdays, Presentation: 10:00 AM – 06:00 PM, Return: 10:00 AM – 04:00 PM
Saturday, Presentation: 10:00 AM – 02:00 PM, Return: 10:00 AM – 02:00 PM
NACH Credit (306 Character File Format) Presentation and Return Timings:
Weekdays, Presentation: 10:00 AM – 12:30 PM, Return: 03:00 PM – 05:00 PM
Saturday, Presentation: 10:00 AM – 11:30 AM, Return: 02:00 PM – 03:00 PM
The settlement for NACH Credit (156 character file format) takes place on T-7 basis. The input files for NACH Credit (156 character file format) are accepted till the previous day for the next day settlement, while the returns would happen on the settlement date. The settlement for NACH Credit (306 character file format) takes place on T+0 basis.
No. NACH Credit does not work on all days. NACH Credit remains close on Sundays and RTGS holidays declared by Reserve Bank of India from time to time.
The settlement for NACH Credit (156 character file format) takes place in the current account of the participating banks which maintained with Deposit Accounts Department (DAD), RBI, Mumbai. The settlement for NACH Credit (306 character file format) takes place in the RTGS account of the participating banks maintained with Deposit Accounts Department (DAD), RBI, Mumbai.
Yes. NPCI permits the banks not having Current Account or RTGS account with RBI to participate in NACH Credit through the sub-membership model.
Yes. NPCI permits the participation of sub-member banks in NACH Credit through their sponsor banks using the sub-membership model.
For the purpose of participation, all the transaction files pertaining to sub-member bank will be uploaded/received directly by the sub-member bank itself through the NACH application. However, the settlement of the transactions will take place in the settlement account of its sponsor bank.
Sub-member banks directly upload/receive the NACH Credit transaction files through the NACH application. However, the settlement of the transactions will take place in the settlement account of its sponsor bank.
For participation in NACH Credit, the sub-member bank needs to get connected to NPCI for accessing the NACH application. NPCI allows the access of NACH application to the participating banks either through NPCINet or Internet. Once the connectivity is established, sub-member bank can directly upload/receive the NACH Credit transaction files.
The role of Sponsor Bank in NACH Credit for its sub-member banks is limited to the settlement of the NACH Credit transactions. The settlement of NACH Credit transactions pertaining to the sub-member bank takes place in the settlement account of its sponsor bank. However, the sub-member banks directly upload/receive the NACH Credit transaction files through the NACH application.