General Studies · NACH Mandate Management
In National Automated Clearing House (NACH) debit transactions, what is the primary operational responsibility of the destination bank regarding mandate verification?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Destination banks may process unmandated debits up to five thousand rupees under small-value transaction exemptions.
- 2The customer can only dispute NACH transactions through consumer courts as clearing house reversals are not permitted.
- 3The destination bank must verify the debit authorization against the stored mandate, and if valid mandate details are absent, return the transaction.✓
- 4The destination bank is not required to maintain or verify mandates for recurring debits.
Correct answer
The destination bank must verify the debit authorization against the stored mandate, and if valid mandate details are absent, return the transaction.
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