Discontinuation of pooling for mutual funds and how it affects Coin

Zerodha Coin - Direct MF
1047

Is eNACH mandate different from e-mandate? The screenshot you posted is mentioning e-mandate too.

The circular I linked here mentions e-mandate. It mentions the non-AFA limit a 1L.

It does not mention it being applicable to UPI only, and mentions all kinds of mandates.

Thanks for patiently answering my queries.

1048

The easiest way to understand this, at least for me is to forget all the names and think about how you are authenticating the mandate.

  1. If you authenticate with UPI - Max limit is 1 lakhs right now for designated use cases (including mutual funds). If the amount is higher, for each mandate pull, UPI pin has to be entered - i.e. AFA.
  2. If you authenticate with Netbanking/DebitCards - Max limit is 1 crore. No AFA.

:slight_smile:

1049

I am asking how is Zerodha bypassing the last circular I mentioned, and whether it is applicable to Zerodha or not.

Any date on when I can setup UPI mandate? I am not comfortable with the 1 crore mandate as of now, so asking so many questions

And based on my experience, I have not received any email/SMS before mandate debit from ICCL or Zerodha. It was always after

1050

We are close to making UPI mandates available - the one where the limit is Rs. 1 lakh. Currently, only eNACH is available with us. The circular you shared does not apply to eNACH.

1051

Thank you

1052

Screenshot_2024-03-08-18-12-47-222_com.google.android.gm
Screenshot_2024-03-08-18-12-47-222_com.google.android.gm1027×1371 163 KB

Mutual fund houses are coming out with UPI auto-pay. Still waiting for coin :sob:

1053

I would rather take the Mandate route once you configure its very seamless. UPI Autopay will contribute to the UPI Daily limit… Small hassle

1054

Oh f, did not know that.

I am a bit concerned about high mandate amounts such as 1 crore, only reason for hesitation.

1055

Hi Neelesh, Any update on support for AMC SIPs greater than 1L?

1056

thanks