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

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.

Also Read: Not against e-commerce, want them fair and honest, Piyush Goyal clarifies after accusing Amazon of predatory pricing

“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.

Also Read: Onion prices remain high due to supply shortages, Shravan month ending, reduced acreage

What is the e-mandate framework?

The e-mandate framework was established in 2019 for safeguarding customers by informing upcoming debits to their accounts.

Also Read: Crayola trademarks the smell of its crayons, a 'slightly earthy soap with pungent, leather-like clay undertones'