Nach Mandate

Overview

The National Automated Clearing House (NACH) is a payment service introduced by the National Payments Corporation of India (NPCI) to streamline the collection of recurring payments. This initiative, developed in collaboration with the Reserve Bank of India (RBI), includes the e-NACH or e-Mandate, an online solution that facilitates recurring payments for banks, financial institutions, and corporations. It supports interbank transactions, including the transfer of loans and deposits, as well as high-volume, repetitive, and periodic electronic transactions through the Nationwide Payments Corporation of India.

It is an automated payment system that allows auto-debitof payments. To activate NACH, one must fill out the mandate with a bank and submit it. Once verified and accepted, the amount will be auto-debited according to the instructions.

Additionally, NACH Mandate enhances data security through robust user management and role-based access controls, ensuring that sensitive information is protected and only accessible to authorized personnel.

The NACH Mandate aims to boost productivity, improve decision making and ensure high standards of data integrity and security, making it an essential tool for modern Organization.

User-Guide

There are two types of NACH Mandates:

Physical Mandate

A Physical Mandate is a traditional paper-based authorization method that requires only the customer’s physical signature and bank account details for authorization to the Bank/Corporations/Financial Institution to deduct EMI from their account at regular intervals for repayment of their loan(s). This method is often used for offline or paper-based requests.

Electronic Mandate (e-mandate)

An e-Mandate is a more modern and efficient method of authorizing recurring payments. It is a digital authorization that allows automatic deductions from a customer’s account, enabling quick and secure processing of payments. The Customer may authenticate e-mandates through multiple methods, such as net banking, debit card, or Aadhaar verification. Compared to Physical Mandate, e-Mandates offer a faster, more streamlined, and customer-friendly experience.

CASR stands for Cancel, Amend, Suspend and Revoke Mandate. It is a set of actions that customers can request to manage their NACH mandates with the Bank/Corporations/Financial Institution:

Cancel - To cancel a registered mandate with the Bank/Corporations/Financial Institution.
Amend - To amend is to make changes in an existing mandate, such as updating the payment amount, frequency, account details or any other terms of an already registered mandate.
Suspend - To temporarily suspend a mandate, stopping any further payments while retaining the mandate for future use.
Revoke - To revoke the suspension of a mandate, resuming the regular payments that were previously stopped.

Registration of NACH Mandate can be done through physical or electronic mode after providing bank details such as bank account number, IFSC code, transaction type (debit/credit), amount and frequency.

To register through physical mode:

Contact the customer care department or branch office concerned of the Company.
Sign and submit the duly filed physical mandate registration form.
On completion, confirmation will be sent on the registered mobile no. within 15 days

To register through e-mode:

Send an email on nachcancellation@kogta.in/Contact the customer care department/ visit the branch office of the Company.
Choose your authentication method for e-mandate:

e-Mandate through Net Banking Authentication

e-Mandate through Debit Card Authentication

Enter your Card Number, CVV, Expiry Date and submit the request

e-Signing through Aadhaar Card Authentication

Enter Aadhaar card details and authenticate for e-signing

Once the authentication process is complete, confirmation will be received on the registered mobile number within 7 days.

Send an email on nachcancellation@kogta.in or visit the nearest branch and raise a request to amend the registered NACH mandate.
Provide the updated details and required supporting documents if any.
Once approved, the confirmation will be received on the registered mobile number.

Send an email on nachcancellation@kogta.in or visit the nearest branch and raise a request to suspend/revoke the NACH mandate.
Provide necessary documents and reasons for the suspension/revocation.
Once approved, the confirmation will be received on the registered mobile number.

Requests can be raised through the following ways:
send an email on nachcancellation@kogta.in
visit the Customer care department of the Company
visit the nearest branch of the Company
At the website of the Company at https://www.kogta.in/media-center/customer-awareness/

Once approved, the confirmation will be received on the registered mobile number.