RBI Approves E-Mandate for Automatic Replenishment of FASTag and National Common Mobility Card (NCMC).

Banking & Finance

The Reserve Bank of India (RBI) has authorized the use of e-mandates for the automatic replenishment of FASTag and National Common Mobility Card (NCMC) accounts. This move aims to streamline the payment process for highway tolls and public transportation by ensuring that users' accounts are automatically topped up when funds fall below a specified threshold. The new system is expected to reduce transaction failures and improve the convenience of travel for users. By leveraging e-mandates, the RBI seeks to enhance the efficiency of toll and transit payments across the country.


      The e-mandate system will ensure seamless travel by preventing interruptions due to insufficient FASTag or NCMC balances.

      The RBI’s decision supports digital payment adoption, enhancing efficiency in transportation and reducing manual top-up processes.

     

 

     


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