Electronic Clearing Service was introduced by Reserve Bank of India to provide faster and repetitive payments by directly debiting customer's accounts thereby minimizing paper transactions and increasing customer satisfaction. As per the existing system, customers are required to make Electricity, Telephone, Insurance Premium, etc. payment by either issuing cheques or through cash at the collection centres/ designated banks. For making the payment, the customer is required to stand in long queue. Whereas, in ECS there is no cash transaction or payment through cheques.