The Reserve Bank of India (RBI) has announced that auto-replenishment of balances in FASTag and National Common Mobility Card (NCMC), would be included under the e-mandate framework, in a circular on Thursday, August 22, 2024.
The e-mandate framework was established in 2019 for safeguarding customers by informing upcoming debits to their accounts. (Vipin Kumar/HT)
“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,” the circular read.
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.
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