RBI Compliance Group, Go to 👁️🗨️ OZGiAN.com
1. 💁🏻♀️ A reference is invited to RBI circulars DPSS.CO.PD.No.447/02.14.003/2019-20 dated August 21, 2019, and other related circulars1 (collectively referred to as “e-mandate framework”). The e-mandate framework prescribed, inter alia, that the issuer shall send a pre-debit notification to the customer at least 24 hours prior to the actual charge / debit to the account.
2. 💁🏻♀️ Reference is also drawn to the RBI's Statement on Developmental and Regulatory Policies dated June 07, 2024, wherein it was announced that auto-replenishment of balances in FASTag and National Common Mobility Card (NCMC), which are recurring in nature but without any fixed periodicity, would be facilitated under the e-mandate framework.
3. 💁🏻♀️ RBI has been decided to include auto-replenishment of FASTag and NCMC, as and when the balance falls below a threshold set by the customer, under the e-mandate framework. Payments for auto-replenishment, since they are recurring in nature but without any fixed periodicity, will be exempt from the requirement of pre-debit notification.
4. 💁🏻♀️ All other instructions provided under the e-mandate framework shall continue to remain applicable.
5. 💁🏻♀️ This circular is issued under Section 18 read with Section 10 (2) of the Payment and Settlement Systems Act, 2007 and shall come into effect immediately.
Source: RBI/2024-25/64
CO.DPSS.POLC.No.S528/02-14-003/2024-25 Dated August 22, 2024
