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Debit Mandate Form NACH ECS DIRECT DEBIT

Debit Mandate Form NACH ECS DIRECT DEBIT

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hello and welcome back so we have talked about uh nach mandate we have talked about what are the benefits who are the participants let us find a typical nash mandate looks like and the nash mandate transaction looks like in npci in india so this is the transaction flow of a nash mandate so let us find out what is this transaction all about so the customer is creating a mandate to a corporate so called the corporate could be anyone it could be a utility service provider it could be a lender which has given a loan to this customer so they create this mandate to any of the three channels remember we spoke about upi we spoke about filling up the details on the online or through a paper mandate as well so they fill up the mandate they give it to the corporates corporate will assemble this and will send it to the sponsor bank you remember a sponsor bank is the same like odfi and ach in india it's called sponsor bank sponsor bank will send this to npci to create a mandate against all

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