A mandate is a standing instruction issued by a customer to their bank or other financial institutions, allowing these entities to automatically debit a specified amount from the customer’s account as outlined in the mandate. An e-mandate represents this standing instruction in digital format.
To meet evolving payment needs, the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) introduced e-mandate, a digital payment service. This enables seamless processing of recurring payments to merchants, typically without human intervention once established.
Please visit the branch for the following e-mandate services:
- Creation
- Modification
- Cancellation
- Suspension/Revocation