e-Mandate (e-Nach) terms and conditions

This mandate registration will be submitted through National Automated Clearing House (NACH) which is implemented by the National Payments Corporation of India (NPCI). For certain banks, the registration may not be through NPCI, as the processes for such banks may or may not be a part of the e-Nach ecosystem. For the purpose of this Terms & Conditions, wherever the context so mentions "I", "Me", "Client", "You", "Your", "We", "Us", or "Our", it shall mean any natural or legal person, who has agreed to login via his/her Netbanking or Debit Card credentials, through his/her choice of Bank, agree and execute the e-Nach Mandate and thus agree to this Terms and Conditions which regulate the terms of usage of the Mandate created, while using the platform.

Terms of usage

The maximum amount which can be selected to be debited via the e-Nach mandate by You is dependent on the bank chosen by you. Each bank, and each type of account held by You in such bank, may have a different maximum eligible amount that can be debited via an e-Nach Mandate. In case, you do not have sufficient funds in your Bank Account to meet the NACH Mandate auto debit requirements, please make sure to delete such standing instruction prior to the scheduled date of debit, and create a fresh e-Nach transaction instruction later on as per Your convenience. Please ensure that sufficient funds remain in Your Bank Account at the time of collection, at all times, to avoid any legal or procedural consequences as per NPCI & RBI Guidelines. This e-Nach Mandate is an auto debit authorization from You to Your service organisation, to debit funds from Your Bank Account. This facility shall be offered to all, who have bank accounts at banks registered/partnered with NPCI (National Payments Corporation of India) offering such services of creating ECS mandates. The list of banks offering such services shall be updated on NPCI's website (www.npci.org.in) from time to time.

Voluntary act

All clients agree to these terms, conditions, usage and registration of the e-Nach Mandate using their NetBanking login or Debit Card Login voluntarily, in case they wish to use the services of the e-Nach Mandate. Their Aadhaar will have to be registered with their Bank Account in order to successfully create an e-Nach Mandate. Payments made through e-Nach Mandate is only an alternative method of payment from Your Bank Account.

Acknowledgements

All clients using the services of creating such an e-Nach mandate clearly acknowledge that: In case of insufficient funds in your Bank Account during a particular scheduled debit/standing instruction of an e-Nach Mandate created by you, it may result in a dispute as prescribed in The Payment And Settlement Systems Act, 2007. Any punishments or penalties as per Clause 5 will be applicable to all Clients not maintaining sufficient funds in their Bank Account during any scheduled payment or standing instruction. Any such maintenance of insufficient balance during such scheduled debit, may lead to a deduction or negative credit rating score & your bank may report the same towards credit information companies as prescribed by RBI.

Consequences of not maintaining sufficient funds

In case of insufficient funds in your Bank Account during a particular scheduled debit/standing instruction of an e-Nach Mandate created by you, it may result in a dispute as prescribed in The Payment And Settlement Systems Act, 2007. Having insufficient funds in your linked Bank Account during a scheduled auto debit would lead to various legal consequences. As per Section 25 (5) of The Payment And Settlement Systems Act, 2007, non-execution of electronic fund transfers due to insufficiency of funds shall have the same consequences of "Dishonour of cheque for insufficiency, etc., of funds in the account" as per Section 138 under Chapter XVII of the Negotiable Instruments Act, 1881.

Applicable law

All such mandate registrations shall be made and processed by following the below provisions and guidelines in mind: Electronic Clearing Service ("ECS") Procedural Guidelines - ECS Debit - prescribed by Reserve Bank of India (RBI) dated June 30, 2015. All such related notifications, rules, guidelines, circulars issued by RBI shall be applicable to all mandate registrations created. National Automated Clearing House ("NACH") Procedural Guidelines.V.3 issued by National Payments Corporation of India ("NPCI"). The Payment And Settlement Systems Act, 2007. All such other Laws applicable to the Republic of India.