The National Payments Corporation of India (NPCI) on January 03, 2025, notified regarding the Implementation of a facility for cancellation of mandates to be provided to customers with reference to Circular No. 001 (NPCI/2024-25/NACH/001 dated July 01, 2024), Circular No. 04 (NPCI/2022-23/NACH/004 dated November 16, 2022) and Circular No. 28 (NPC1/2020- 21/NACH/Circular no. 28 dated March 08, 2021).
The following have been stated:
• While a few banks have been onboarded on the online Cancel / Amend / Suspend & Revoke (CASR) functionality, it is observed that many banks are not yet live on the CASR functionality.
• It is advised that all the stakeholders take immediate measures to comply with the circulars mentioned above to provide online CASR facility to customers. Please note that in the event of non-compliance before February 28, 2025, NPCI shall be constrained to de-board such Banks from participating in the ONMAGS system.
[Circular No. NPCI/2024-25/NACH/008]
