RBI includes auto replenishment of FASTag, NCMC in e-mandate framework | Auto

The Reserve Bank of India (RBI) has included the auto replenishment of FASTags and National Common Mobility Cards (NCMC), triggered when the balance falls below a customer-set threshold, under the e-mandate framework, while exempting issuers of these mobility tokens from issuing a pre-debit notification 24 hours in advance of a debit.

Since payments for auto-replenishment are recurring in nature and without any fixed periodicity, they have been exempted from the requirement of a pre-debit notification, the RBI said in a notification on Thursday. The circular is effective from August 22.

The e-mandate framework of the RBI mandates the issuer to send a pre-debit notification to the customer at least 24 hours prior to the actual charge or debit to the account. These notifications are required to inform cardholders about the merchant’s name, transaction amount, date and time of debit, and the reference number of the transaction or an e-mandate, among other things. Users have the option to opt-out of a particular transaction of the e-mandate once they receive a pre-debit notification.