Tech Update: Auto payment will be faster from July, salary will be credited to the account instantly, NACH 3.0 is coming..

NACH 3.0: Big information has come out from the National Payments Corporation of India (NPCI). NPCI is going to update its NACH system. The full name of NACH is National Automated Clearing House. Its updated version will be called NACH 3.0. It is claimed that after this update, auto payment will become faster from July, that is, the money you pay for a Netflix subscription or scheduled auto payment for electricity and water bills will be done quickly. According to the ET report, salaries will also be transferred to people's accounts quickly, and paying EMI will also become digitally fast. It is claimed that NACH 3.0 has been designed in such a way that it follows high-tech security rules. How does NACH 3.0 technology work, let's know.

What is the NACH 3.0 system?

As we told you, the full name of NACH is National Automated Clearing House. This is a strong automated system of transactions between Indian banks. Through this system, money for salary, subsidy, pension, etc. is transferred online to your account. Also, you can make auto payments for your loan. Through this system, your SIP money is also deducted from the account.

What technical changes are happening in the NACH 3.0 system

GPU i.e. Graphical User Interface plays a big role in such systems. NACH's GPU has been upgraded. This will give users a faster and more secure experience. It is being said that after the technical change, more payments will be possible and faster transfers will be possible. ET's report says that people will get the facility of self-service user management and without the help of a bank, they will be able to complete many digital tasks.

User data will remain more secure.
With the arrival of NACH 3.0, user data will be more secure than before. According to the report, advanced security standards have been introduced in NACH 3.0 to improve transactions along with data security. With their help, no unnecessary access will be allowed, that is, no one will be able to tamper with the system. To keep the user's account safe, he will get the facility of multi-factor authentication. No file will be downloaded in plain text. Every file will have an encryption, so that your transaction information does not come to anyone else's eyes.

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