Digital Banking

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eMandate Launched at JKGB (Paperless Registration of Bank Mandate) as destination bank

Mandate is a written instruction to a bank, asking it to make regular payments on behalf of the customer. Presently customer is using paper based mandate option to instruct the bank to make regular payments. Our Bank has launched eSign eMandate facility on 04-09-2018. 

E-Mandate allows the customer to electronically authorize the debit order to the bank. It is very similar to a NACH mandate. It uses an electronic validation instead of a physical mandate form signature validation. It helps customer to authenticate his debit mandate through an electronic medium (online) for auto-debit of payment, instead of going for a paper-based mandate process. Therefore, customer can process his mandate in lesser time by doing it online than doing it in physical mandate process. Customer must link his Aadhar number to his bank account.

 

Steps for the customer to use eSign eMandate

  1. The customer fills up details online mandate application of corporate’s web-portal (dealer’s website). 
  2. Customer then provides his/her Aadhaar number and initiates eSign process. 
  3. UIDAI generates OTP and send to customer on the registered mobile number for confirmation. 
  4. The customer then keys in OTP and confirms eSigning of eMandate.
 

Advantages of eMandate

  • Reduction of TAT (Turn Around Time) – eMandates are processed in maximum 2 days compared to Paper based mandate processing which takes a lot of time.
  • Eliminating signature differ rejections & Image not clear faced using paper based mandate. 
  • Automation of process.
  • Eliminating the movement of physical mandate. 
  • Data accuracy
 

Launching e-mandate using e-Sign is an initiative by the bank to reduce rejection due to signature mismatch, image not clear like issue faced with processing of paper based mandate. Branches are instructed to make customer aware about the usage of eSign eMandate facility and display the same on their notice board.