What changed
RBI approved a new clearing software, ECCS, developed by SBI and vendor M/s Image InfoSystems, to replace the Magnetic Media Based Clearing Software (MMBCS) at all non-MICR clearing houses. NPCI is now responsible for national rollout, with SBI managing its own locations. The rollout must be completed within six months from April 1, 2011.
What it means for you
Banks at non-MICR centres will need to upgrade to ECCS, which supports multi-user inputs in a networked environment, core-banking integration, and graphic interface. This modernisation aims to improve efficiency and handle growing cheque volumes. NPCI becomes the single point of contact for support and updates, reducing coordination burden on individual banks.
What you must do
- Coordinate with NPCI for ECCS rollout plan and training schedules at your clearing locations.
- Ensure hardware and software requirements as per the approved technical specifications are met before deployment.
- Prepare staff for training on the new Express Cheque Clearing System ahead of the September 30, 2011 deadline.
- For banks managing clearing houses, align with NPCI and SBI for smooth migration from MMBCS to ECCS.
Who it affects
All scheduled commercial banks including RRBs, UCBs, State Co-operative Banks, and District Central Co-operative Banks, Clearing house managing banks at non-MICR centres, National Payments Corporation of India (NPCI), State Bank of India and its associate banks
What is the Express Cheque Clearing System (ECCS)?
ECCS is a new software package developed by SBI and M/s Image InfoSystems to automate non-MICR cheque clearing. It replaces the older MMBCS and offers features like multi-user networked input, core-banking integration, and graphic interface.
Who is responsible for the ECCS rollout?
NPCI is the lead agency for national rollout, acting as single point of contact for banks and the vendor. SBI will ensure rollout at its own and associate bank locations. RBI's National Clearing Cells will coordinate with NPCI.
What is the deadline for implementing ECCS?
The rollout must be completed within six months from April 1, 2011, i.e., by September 30, 2011.