Reserve Bank of India has introduced the Electronic Clearing Service which allows electronic credit of the dividend /interest amount to your bank account for the amount due to you. The salient features are: Instant credit - This Facility provides instant credit of dividend/interest amount to your bank account electronically at no extra cost. ECS also eliminates the delay in postal transit and fraudulent encashment of warrants. Optional Scheme - This scheme is optional Coverage - ECS is presently available in major cities / centres like Ahmedabad, Bangalore, Calcutta, Chennai, Delhi, Hyderabad, Mumbai, Pune. RBI has been extending this facility to various centres from time to time. The scheme is at present available only for payments upto a maximum amount of Rs. 5,00,000/-. Procedure for credit - Under this facility the amount of dividend / interest payable to you would be directly credited to your bank account. Your bank branch will credit your account and indicate the credit entry as 'ECS' transaction in your passbook/ statement of account. In case ECS facility is not made available to you by the Company / their Bankers at a particular centre or the amount payable to you exceeds Rs. 5,00,000, the dividend / interest amount due to you would be remitted by means of a dividend / interest warrant which would be posted to your address with the particulars of the bank/branch and account number furnished by you duly incorporated on it.