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E Mandate

 What is e - mandate ? E mandate is a system of payment in banking that makes paying recurring bills of fixed or varying amounts seamless.   History and significance of e mandate Yes, the term e mandate may be quite confusing to many and probably you too. So let us understand it's origin and why a system like this is even needed. RBI (Reserved Bank of India) introduced e mandate of in India in 2018. It's main objective was to make payment of recurring bills paperless and fast.  Any corporate industry using e mandate must abide by the e mandate policy of RBI defined in their preamble. So why is e mandate needed ?  Ok so, suppose you wish to purchase a product or service and because the pricing is very high, you likely won't be able to pay it at once. So most likely you would opt for EMI (Equal Monthly Installment) which is natural. What e mandate does is basically it makes payment of EMI very easy and paperless. In earlier times, the process of availing and
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