NACH e-mandate: Everything You Must Know

    Updated on: 30 Oct 2023 7 min read

    NACH or the National Automated Clearing House is a new payment service rolled out by the NPCI (National Payments Corporation of India). The e-NACH or e-Mandate helps businesses in collecting recurring payments and is a boon to the Indian finance sector. With a heavy load on banks, corporations, and financial institutions, the sector needed to get a sustainable and smooth solution to ease the collection of recurring payments. 

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    NACH e-mandate is yet another endeavor by the government to make the digital payment structure more robust. The cost of maintaining the system is always less than the overall loss a bank or a corporation may incur on account of human delays. There are several spheres where digitization has eased people’s lives, and NACH e-mandate helps ease the lives of a considerable chunk of people, financial institutions, and corporations. 

    NACH is a more sustainable system than earlier systems of bulk payments like ECS. The inclusion of India’s leading banks in the NACH steering committee makes it more inclusive than other prevailing systems. It also represents the mandate of the organizations that its work will impact. So, an inclusive system like NACH is undoubtedly one of the most significant financial sector reforms. It has eased the payment ecosystem in India that is all set to incorporate the massive volume of digital transactions that people will do in the years to come. 



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Written by vishakha Bhagia

Interest in Finance with a flair for writing, Vishakha has written on education loans and the study abroad field for the last two years with articles published in Times of India, Outlook India, The Hindu, and many more publications.


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Reviewed by Aman Jain

Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.


Specializes in:
Education loan , Study Abroad Admissions


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