On Jul. 31, IND NPC introduced single block multiple debits service.
IND NPC introducing single block multiple debits mandate service to extend existing mandate; allows customers to pre-authorize transactions by blocking funds for multiple debits until the funds are exhausted or the mandate is revoked.
Document dated Jul. 31, 2024, received from IND NPC Aug. 25, summarized Aug. 27.
New Service
Issuer banks must support functionality for multiple debits against blocked amount.
UPI apps should provide the required interface for transactions; acquiring banks need to extend these services to merchants with the necessary technical developments.
Mandates must be successfully created, executed with all validations done at time of creation; communication re mandate operations must be clearly conveyed to customer.
Banks must ensure transactions are reconciled according to IND NPC guidelines.
There are specific purpose codes defined for single block multiple debits based on different use cases, such as securities brokers and online goods and services.
The transaction limit for purpose code 76 (securities brokers) is set at INR 5 lakh, while existing UPI limits apply for purpose code 77 (online goods/services).
Effectiveness
All member banks and entities must enable this feature by Nov. 30, 2024.
