Reserve Bank of India : Representation on the implementation of the directive on processing of e-mandate on cards for recurring transactions

NASSCOM made a representation to the Reserve Bank of India (RBI) to address industry’s concerns regarding the implementation of the directive on processing of e-mandate on cards for recurring transactions (e-Mandate Directive) by September 30, 2021. While the RBI’s circular impacts the e-commerce industry, the burden of compliance with the e-mandate primarily falls on the issuer banks.