The mandate is an authorization given by the client to enable auto-debit from his/her bank account. Every SIP needs to be linked to a mandate for auto-debit of installment.
Multiple SIPs can be registered with a single mandate.
Note: All auto-debits will be towards BSE (Bombay Stock Exchange), as they are our transactions partner.
When a SIP is registered by an advisor/client, one mandate is automatically generated. If required, the advisor can also generate new mandates for the client.
There are two types of mandates
a) e-mandate : Netbanking/debit card
b) Paper mandate
The e-mandate(Netbanking/debit card) can be registered up to Rs 10,00,000 as the mandate amount.