This news is helpful for FASTag users if you drive a car of your own and it has a FASTag fitted. It’s true that the RBI changed the e-mandate structure and permitted automatic money transfers to National Common Mobility Card (NCMC) and FASTag. The money will be automatically deposited into FASTag and NCMC anytime there is less money than the fixed limit, according to the central bank’s notice.
Must choose the auto recharge option only once.
In other words, funds will be deposited under the e-mandate anytime the balance falls below the predetermined limit. You must use the “auto recharge once” option to accomplish this. If you choose this option, money will be transferred to your card anytime there is a decrease in balance. For this, you will not get a separate message every time. The introduction of this facility will benefit those people who often pass through the highway and forget before leaving home whether their Fastag is recharged or not. Many times FASTag users have to face trouble at the toll plaza due to non-recharge.
What is the e-mandate framework now?
As of right now, pre-debit card notifications must be sent out under the e-mandate framework 24 hours before the customer’s account is debited. The amount of NCMC can be used for automated recharging in Fastag, according to a June 2024 RBI announcement. There is no set time frame for this. The e-mandate framework will be supported by this service.
2019 saw the creation of
a new regulation known as the “e-mandate.” This regulation is in place to safeguard the clients. This guideline states that you will be notified in advance if any money is going to be taken from your bank account. This will notify you when funds are being taken out of your account.
Read More: Google is taking a big step by closing these apps from September 1
| |
  YouTube |          Click Here |
| Â Facebook Page | Â Â Â Â Â Â Â Â Â Click Here |
| Â Instagram | Â Â Â Â Â Â Â Â Â Click Here |
| Â Telegram Channel | Â Â Â Â Â Â Â Â Â Click Here |
