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    Question

    In the context of dividend distribution, what is the

    full form of ECS?
    A Electronic Credit System Correct Answer Incorrect Answer
    B Extended Clearing System Correct Answer Incorrect Answer
    C Electronic Clearing System Correct Answer Incorrect Answer
    D Extended Credit System Correct Answer Incorrect Answer

    Solution

    Explanation: ECS is an electronic mode of payment / receipt for transactions that are repetitive & periodic in nature. ECS is used by institutions for making bulk payment of amounts towards distribution of dividend, interest, salary, pension, etc., or for bulk collection of amounts towards telephone / electricity / water dues, cess / tax collections, loan installment repayments, periodic investments in mutual funds, etc.

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