What changed
The original compliance deadline of March 31, 2021, for the e-mandate framework has been extended to September 30, 2021, as a one-time relief. During this extended period, no new recurring mandates can be registered unless they fully comply with the framework. The RBI noted unsatisfactory progress in onboarding existing and new mandates.
What it means for you
Banks and payment system participants must urgently accelerate their migration to the compliant e-mandate framework for cards, wallets, and UPI. The extension is a final opportunity; any further delay after September 30 will trigger strict supervisory actions. This impacts customer convenience and operational risk management for recurring payments.
What you must do
- Ensure all new recurring e-mandates registered from now are fully compliant with the framework.
- Accelerate migration of existing mandates to the compliant framework before September 30, 2021.
- Review and report progress to senior management to avoid supervisory action.
- Communicate with customers about any changes in mandate processing during the transition.
Who it affects
All Scheduled Commercial Banks, Regional Rural Banks, Urban Co-operative Banks, State Co-operative Banks, District Central Co-operative Banks, Payments Banks, Small Finance Banks, Local Area Banks, Card Payment Networks, Non-bank Prepaid Payment Instrument Issuers, National Payments Corporation of India
What is the new deadline for full compliance with the e-mandate framework?
The deadline has been extended to September 30, 2021, as a one-time measure.
Can we register new recurring mandates during the extended period?
Yes, but only if they are fully compliant with the framework; non-compliant new mandates are not allowed.
What happens if we fail to comply by the new deadline?
Any further delay beyond September 30, 2021, will attract stringent supervisory action from RBI.