Automate all your bill payments, investments using e-mandate

WHAT IS E-MANDATE?

Every month you pay your utility bills and make investments. Would it be more convenient if the process was automated? Enter the E-Mandate system. It is a facility that issues and confirms mandate by customers through alternate channels.

The mandate will be routed by the destination bank to the sponsor bank or by corporates to the destination bank, through their sponsor bank. “E-Mandate is for payment and collection mechanism. E-Mandate can be set up using debit card and net banking,” said Deepak Sharma, chief digital officer, Kotak Mahindra Bank Ltd.