The numbers of mandates flowing in the NACH Debit pipeline are increasing. The backbone of the ACH Debit is a successfully registered Mandate form.
Initially the TAT for receiving banks process the NACH Debit mandate was 3 business days. With the numbers increasing, the receiving banks were not comfortable with the 3 working days TAT.
Based on the feedback received from Participant Banks, NPCI has increased the processing cycle from 3 business days to 5 business days.
During October 2013, 245 ACH Debit transactions for Rs62,680,085.11/- were initiated
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