On Nov. 27, IND NPC modified descriptions of rejection codes.
IND NPC said changes in the rejection reason codes and descriptions have been made based on feedback from participating banks regarding E-Mandate rejection reasons.
Document dated Nov. 27, 2024, received from IND NPC Nov. 28, summarized Dec. 2.
Changes in Code
The descriptions of certain codes have been modified, and a number of new codes have also been added to enhance clarity and improve communication with end users.
Aims to help users understand rejection reasons better and take corrective actions.
Banks must update their systems with the revised rejection codes and descriptions; this ensures accurate mandate registration responses and avoids discrepancies.
Shall analyze rejection trends and take measures to reduce total decline (TD) rate to no more than 0.5% to maintain ecosystem hygiene and improve customer experience.
Effectiveness
All participating banks must implement updated codes, descriptions by Jan. 1, 2025.
