{"id":3214,"date":"2018-11-30T05:51:10","date_gmt":"2018-11-30T05:51:10","guid":{"rendered":"https:\/\/signdesk.com\/?p=3214"},"modified":"2025-09-17T07:01:52","modified_gmt":"2025-09-17T12:31:52","slug":"netbanking-based-emandate","status":"publish","type":"post","link":"https:\/\/melento.ai\/en-in\/blog\/netbanking-based-emandate","title":{"rendered":"Netbanking Based eNACH as a Substitute for Aadhaar-Based eMandate"},"content":{"rendered":"

API Based eMandate<\/strong><\/span><\/h2>\n

The recent Supreme Court Judgement on the Aadhaar ceased the use of Aadhaar based KYC services for private companies. Similarly, dependent solutions like the Aadhaar-based eMandate or eNACH<\/strong> have also had to be suspended.<\/span><\/p>\n

However, the API (netbanking) <\/strong>based eMandate<\/strong> is here to save the day for all those companies who\u2019s journey into digitisation has been disrupted by the Supreme Court Aadhaar verdict.<\/span><\/p>\n

\"eMandate

API Based eMandate to automate recurring payments.<\/strong><\/p><\/div>\n

The judgement caused havoc in the Fintech, Banking and NBFC segments<\/em> as the process of seeking mandate approval had been digitised using the Aadhaar based eMandate<\/a>. The eNACH authentication system is estimated to have saved 95% of the bank’s transaction costs.<\/span><\/p>\n

Discontinuation of the Aadhaar based eMandate<\/strong><\/a> is said to increase operational costs for players in the affected segments and has also raised fears of having to shift back to the physical process of approving mandates. <\/span><\/p>\n

However, there is an API based eMandate solution that can be used to substitute the Aadhaar based eMandate<\/a>. Even though the cost for eMandate<\/a><\/strong> through Netbanking is slightly higher than the Aadhaar based eMandate<\/a>, it is still much lower than the costs involved in the physical process of seeking mandate approval. <\/span><\/p>\n

What is the API Based eMandate<\/a>?<\/strong><\/span><\/h2>\n

The API based eMandate<\/strong><\/a> authorizes customers to provide eMandate acceptance using their Netbanking credentials. The service is also referred to as eMandate through Netbanking. <\/span><\/p>\n

How Does <\/strong>eMandate<\/strong><\/a> Through Netbanking Work?<\/strong><\/span><\/h2>\n

The eMandate through Netbanking<\/strong><\/a> works in a similar way to its previous counterpart. Instead of providing the Mandate acceptance through eSign<\/a><\/strong>, the customer provides mandate acceptance using their Netbanking login. This is how the process goes.<\/span><\/p>\n