Revision of NACH Mandate Form

BSE Limited, vide Notice No. 20260506-35 dated May 06, 2026, has announced an important update regarding revision of the NACH Mandate Form for the Mutual Fund segment.

Key Details of the Update –
• The notice has been issued under the Trading category, Mutual Fund segment, by the Trading Operations Department.

• Applicability: Members operating in the Mutual Fund segment and dealing with NACH mandate processing.

• National Payments Corporation of India, vide Notice No. NPCI/2026-27/NACH/001, has revised the physical NACH mandate form.

• The revision is intended to align NACH mandate form execution practices and incorporate necessary regulatory additions.

• Customers may utilise NACH by executing a mandate form either physically or digitally.

• Effective Date: The NPCI revision is effective from April 28, 2026.

• Immediate Adoption: NACH Members are required to immediately adopt the revised mandate form and XML format and ensure adoption by associated NACH participants, including merchants, corporates and payment aggregators.

• Technical Requirement: The frequency tag applicable to e-NACH mandates must also be used in XML generation of physical mandates.

• Previous NACH mandate formats shall remain valid until September 30, 2026.

• NACH Members shall not reject previous format mandate forms solely on the ground of “Mandate not in standard format” until September 30, 2026.

• After September 30, 2026, destination banks may choose to accept or reject mandate forms submitted in the previous format.

• XML frequency tags include Daily DAIL, Weekly WEEK, Bi-Monthly BIMN, Monthly MNTH, Quarterly QURT, Half-Yearly MIAN, Annually YEAR, and As and when presented ADHO.

• Further updates in this regard shall be informed separately by the Exchange.

Actions if Any –
• Members must take note of the revised NACH mandate form issued by NPCI.

• NACH Members must immediately adopt the revised mandate form and XML format.

• NACH Members must ensure adoption by their associated NACH participants, including merchants, corporates and payment aggregators.

• Members must ensure use of applicable frequency tags in XML generation for physical mandates.

• Members must not reject previous format NACH mandate forms solely on the ground of non-standard format until September 30, 2026.

Compliance Deadline –
Revised NACH mandate form is effective from April 28, 2026; previous NACH mandate formats remain valid until September 30, 2026.