For “Internet banking” authentication, customer will be prompted to enter the login and password credentials. Whereas for “Debit card” authentication, Debit card number and OTP details will be requested. Banks may introduce additional checks and balances
as well, as per their internal policies.
Yes. The mandate cannot be initiated without a utility code in the MMS system. The utility code helps to identify the corporate in whose favour the mandate is issued.
Corporate creation form should be submitted by the corporate. The request should be routed through the sponsor bank with their due authentication. NPCI after scrutinizing the documents, if found ok, will issue a utility code to the corporate.
The APIs should be built in such a way that the key fields entered by the customer are validated against the mandatory data validation provided in the business specification document. If any data value is not in line with the specifications then the system
should not allow submission of such mandate.
Below methodology is used for encryption of secure information Encryption Methodology – Asymmetric Hashing Algorithm – SHA256 Cryptography – RSA 2048 bits
Yes. After necessary business validations (as per bank policy) followed by customer authentication, all mandates to be recorded by the bank for future reference. Destination bank raises API mandate for all customer accepted mandates in NACH system, to
which inward should be sent to sponsor bank. Upon sponsor bank acceptance, destination bank registers the mandate in CBS.
