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RBI allows e-mandate for auto-replenishment of FASTag, NCMCThe current e-mandate framework requires a pre-debit notification at least a 24-hours before the actual debit from the customer’s account.
PTI
Last Updated IST
<div class="paragraphs"><p>FASTag is a device that uses Radio Frequency Identification (RFID) technology to pay toll charges without stopping the vehicle.</p></div>

FASTag is a device that uses Radio Frequency Identification (RFID) technology to pay toll charges without stopping the vehicle.

Credit: DH Photo

Mumbai: The Reserve Bank on Thursday modified its e-mandate framework and allowed auto-replenishment of FASTag and National Common Mobility Card (NCMC).

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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.

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(Published 22 August 2024, 19:24 IST)