RBI includes auto-replenishment of FASTag, NCMC payments under e-mandate framework

RBI includes auto-replenishment of FASTag, NCMC payments under e-mandate framework

Reserve Bank of India on August 22 said it has been decided to include auto-replenishment of FASTag and National Common Mobility Card (NCMC) under the e-mandate framework.

"It 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," said RBI in a circular.

All other instructions provided under the e-mandate framework shall continue to remain applicable. 5. The circular is issued under Section 18 read with Section 10 (2) of the Payment and Settlement Systems Act, 2007 (Act 51 of 2007), and shall come into effect immediately, said RBI.