Compliance-Related Terms (for Regulatory and Legal Adherence)
Mandate Authentication Process
All eNACH mandates must undergo authentication through a secure method such as Aadhaar OTP, Netbanking, or Debit Card. This process is essential to ensure that the customer's identity is verified prior to the activation of the mandate.Customer Consent and Authorization Declaration
We require clear and explicit consent from the customer, affirming their approval to initiate the eNACH mandate and to authorize auto-debits from their account.Data Privacy and Security Statement
All customer data is managed in strict compliance with RBI guidelines and the Information Technology Act. Your personal and financial information is securely encrypted and will not be misused under any circumstances.Validity Period of the eNACH Mandate
Each mandate is valid for a specified period, which will be clearly communicated during the setup process. Upon expiration, the mandate will become inactive unless it is renewed.Right to Cancel or Revoke Mandate
Customers retain the full right to cancel their eNACH mandate at any time by following a simple deactivation process, without incurring any hidden charges.Mandate Frequency and Amount Limits
The auto-debit frequency (e.g., monthly, quarterly) and maximum limits are pre-defined to ensure that no amount exceeding the agreed limit can be debited.Mandate Modification Terms
Any modification to the mandate—be it in amount, frequency, or end date—necessitates re-authorization by the customer to uphold transparency and legal validity.Consent for Sharing Data with NPCI, Banks, and Service Providers
By approving the mandate, customers consent to the sharing of their data with NPCI, their bank, and relevant service providers solely for the processing of the mandate.Storage and Retention of Mandate Data
Records related to the mandate are stored securely and retained for a duration specified by legal and regulatory requirements to facilitate audits and compliance.Legal Applicability and Jurisdiction
All mandate-related processes are governed by Indian law, and any legal matters will be subject to the jurisdiction of the relevant courts.Force Majeure Clause
In the event of unforeseen circumstances (such as natural disasters or technical breakdowns), the provision of mandate services may be affected without liability to either party.KYC Compliance Requirement
eNACH services are exclusively available to customers who fulfill standard KYC (Know Your Customer) norms as regulated by the RBI.Mandate Usage Restriction
The eNACH mandate is strictly to be used for the pre-agreed purposes, such as EMI collection or service fees—no unrelated charges will be debited.Terms of Automatic Debit Recovery
In the event a scheduled debit fails, the system may attempt to auto-retry in accordance with NPCI rules. Customers will be duly notified in advance.Dispute Resolution Mechanism
Any issues or disputes regarding the mandate will be addressed through a structured grievance redressal mechanism compliant with RBI regulations.Refund and Chargeback Policies
In instances of an incorrect debit, refunds will be processed promptly after verification. Chargeback requests will be handled with transparency.Audit Trail Maintenance and Access
A comprehensive digital record of all mandate transactions will be maintained and is available upon request for auditing or customer review.Digital Signature / IP Log Consent
By submitting the mandate online, the customer consents to the use of digital signature methods, which includes the recording of device IP and timestamp.Declaration of Non-Liability in Case of Technical Failure
In rare situations involving third-party or banking network failures, we shall not be held liable for delays or unsuccessful transactions. Nevertheless, we will assist in the resolution process.Adherence to RBI and NPCI Circulars
Our practices will always align with the most recent circulars issued by the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI).
Customer-Focused Terms (for Transparency and User Awareness)
What is eNACH and How It Works
eNACH is an automated payment system that enables your bank to auto-debit EMIs or service fees with your consent, thereby facilitating smooth and timely payments.Purpose of Collecting eNACH Mandate
We collect eNACH mandates solely to ensure secure and timely collection of loan EMIs, subscriptions, or other mutually agreed payments.Debit Schedule (Dates and Frequency)
Your account will be debited on fixed dates such as the 5th or 10th of each month, as outlined during registration. The frequency of debits (e.g., monthly) will be clearly communicated.Maximum Amount to Be Debited
We shall never debit more than the pre-approved amount as stipulated in your mandate. This ensures transparency and control over your transactions.Notification and SMS/Email Alerts for Each Debit
You will receive confirmation via SMS or email prior to and following each debit to keep you informed at every stage.Procedure to Cancel or Deactivate the Mandate
To cancel your mandate, please contact our support team or follow the digital deactivation steps detailed in your mandate confirmation.Bounce Charges and Penalties
If there are insufficient funds in your account during a debit attempt, bounce charges may apply as per bank norms. We encourage timely maintenance of your balance.Refund Timelines and Process
In the event of an unauthorized debit, we will commence a refund process within 5 to 7 working days following verification. Your funds are secure with us.Updating Bank Account Details Process
To change your bank account, a new eNACH mandate must be submitted. Our support team is available to guide you through the process seamlessly.Limitations on Mandate Use
The mandate is strictly limited to the service or product for which it was established (e.g., EMI for a loan). It cannot be utilized for unrelated charges.Customer Grievance Redressal Details
For any complaints or concerns, our dedicated support team is available via phone and email. All grievances will be addressed promptly.Duration of Mandate (Start and End Dates)
Your mandate will commence on the date of confirmation and will remain valid until the end date specified during setup, unless it is cancelled beforehand.How to Re-Initiate a Failed Mandate
If your mandate fails due to technical difficulties or insufficient balance, we will assist you in re-initiating it seamlessly, using either the same or a different method.Opt-Out or Unsubscribe Option
You have the option to opt out of auto-debit at any time by deactivating the mandate, ensuring no further deductions occur post cancellation.Contact Details for Support
You may contact our customer support team through phone, WhatsApp, or email. Our contact details are prominently displayed on the website for your convenience.Terms for Auto-Renewal (if Applicable)
Should it be applicable, you will be informed in advance of the auto-renewal of services or mandates, with an available option to opt out prior to renewal.Mandate Linked to Specific Agreement/Loan
Your eNACH mandate is specifically connected to a particular service or loan agreement and is not transferable or reusable for unrelated transactions.Re-Initiation of EMI on Failed Debit
In the event an EMI fails, we may attempt to retry the debit within 24 to 72 hours. You will be notified prior to any retry attempt.Link to Detailed Privacy Policy
You can access our full privacy policy at any time via the link located in the footer of the website, detailing how we collect, store, and utilize your data.User Responsibility to Maintain Sufficient Balance
To prevent failed debits or penalties, customers are responsible for ensuring that adequate balance is available in their account on the scheduled debit date.