The National Payments Corporation of India (NPCI) has set a deadline of 28 February 2025 for banks to implement the CASR (Cancel, Amend, Suspend, Revoke) feature for NACH mandates.
NPCI has clearly stated that banks that do not implement this feature by the deadline will be removed from the Online Mandate Generation System (ONMAGS).
What is CASR feature?
This feature will allow customers to easily cancel, modify, suspend or revoke NACH mandates registered for payments such as Mutual Funds SIP, Loan EMI or Insurance Premiums through their bank’s website or other digital platforms.
Customers will get these benefits
Online process: Customers will no longer need to visit the bank branch.
Transparency: All active and suspended mandates can be easily viewed and managed.
Restart facility: There will be an option to restart previously suspended mandates.
Challenges in the current situation
Currently, many customers face problems in stopping or changing their SIP, EMI or premium payments. Apart from this, the process becomes complicated due to different rules in every bank. This step of NPCI is important in the direction of improving customer experience and making digital banking simple and secure.
Banks will have to follow these guidelines
Secure authentication: Customers will be required to verify through login credentials and OTP.
Specific mandate selection: Customers will be able to view and select all registered mandates linked to their account.
Warning message: A pop-up message will be displayed before cancellation.
Notification alert: An SMS of the cancellation request will be sent to the customer’s registered mobile number.
Faster processing: Banks will be required to process the cancellation file on the same day.
What if the deadline is not met?
NPCI has warned that banks that do not implement the CASR feature by the deadline will be removed from the ONMAGS system. This will make them unable to process NACH mandates, which will have a major impact on their services.
A big step towards improving the facility
Some banks have already implemented the CASR feature. This step by NPCI will not only provide relief to customers but will also make digital banking more effective and convenient.
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