A mandate is an authority granted by an individual to an organisation on his/her behalf. Similarly, an e-mandate is a digital equivalent of an authority given to an organisation by an individual to act on his/her behalf. The e-mandate process can be used in various ways. For instance, if you get an e-mandate completed, then you can give your bank the authority to pay your EMIs automatically every month.
Earlier, the e-mandate process was a cumbersome one as it used to be completed in a couple of days. An individual had to go through a long process of about 10 days to complete an e-mandate. This involved sending forms to the bank and getting them signed and then sending them to different authorities.
Now, the e-mandate process has been replaced with a single and easy step. You just need to visit a link and then upload your mandate, e-sign it and send it to your bank via email. This process enables businesses, individuals and professionals to get e-mandate done quickly and easily. E-mandate has opened up a lot of possibilities and has been very advantageous for businesses and individuals. Here’s how e-mandate has helped people in India.
1. No Hassle:
The e-mandate process used to take up to 10 days earlier. But now it can be done with a few clicks on your smartphone or smart devices. The process has become hassle-free and it has proved to be very advantageous for modern people with hectic everyday lives who want everything to be completed quickly.
2. Record of transactions:
The process of e-mandate provides an individual with the opportunity to record every transaction. All previous transactions are recorded and stored for the users. This way, you can keep track and check on all your past transactions. It helps an individual to record these transactions and keep a history of every translation that an individual makes.
3. Pan India Presence:
One of the major advantages of e-mandate is that it helps an individual or a business to make transactions from far away places as well. For instance, if you are living in one part of India and you want to make a transaction in another part of the country, then e-mandate makes it possible for you. All of these financial transactions can be carried out with ease even from a distance with the help of the e-mandate process.
4. Keeps you Updated:
If you ake any transaction with the help of the e-mandate process, then you can have the advantage of staying informed and updated with all your transactions. The e-mandate process sends updates to you every time you make transactions and helps you in keeping a check on your transactions.
All of us want to save our time and this is an adjective that is achieved through e-mandate in doing 5. kind of monetary transactions. It helps us in saving time that is otherwise wasted on doing different transactions.
E-mandate is a process that eases every transaction for an individual. Doqfy is a platform that solves all legal documentation problems for businesses, individuals and professionals. Doqfy provides more than a thousand legal document templates that make the process of documentation easier and faster.