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RBI Allows Auto-Replenishment of FASTag and NCMC via E-Mandate

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By Rediff Money Desk, Mumbai   Aug 22, 2024 19:10

The Reserve Bank of India has modified its e-mandate framework to allow auto-replenishment of FASTag and NCMC balances, eliminating the need for pre-debit notifications.
RBI Allows Auto-Replenishment of FASTag and NCMC via E-Mandate
Mumbai, Aug 22 (PTI) The Reserve Bank on Thursday modified its e-mandate framework and allowed auto-replenishment of FASTag and National Common Mobility Card (NCMC).

The current e-mandate framework requires a pre-debit notification at least a 24-hours before the actual debit from the customer's account.

In June, the RBI announced that auto-replenishment of balances in FASTag and NCMC, which are recurring in nature but without any fixed periodicity, would be facilitated 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," the RBI said in a circular.

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, it added.
Source: PTI
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