RBI enables e-mandate for auto replenishment of FASTag and NCMC: PTI

The present e-mandate needs a pre-debit notification a day in advance, prior to the actual debit from the customer's account.

By Autocar Professional Bureau

23 Aug 2024

2057 Views

RBI enables e-mandate for auto replenishment of FASTag and NCMC: PTI

The Reserve Bank of India has amended its e-mandate framework and enabled auto replenishment of FASTag and the National Common Mobility Card, PTI reported.

The present e-mandate needs a pre-debit notification a day in advance, prior to the actual debit from the customer's account, PTI noted.

In June, the Reserve Bank of India had noted that auto replenishment of balances in FASTag and NCMC that are recurring in nature but do not have any fixed periodicity, would be facilitated in the e-mandate framework. The same has been noted in an RBI circular.