After creating mandate(eNACH) in console is it required to create Schedule to deposit money


I have a small query, after creating mandate in zerodha console is it mandatory to create a schedule to credit the money to zerodha account?. If i did not create a schedule will the required SIP amount will be deducted automatically?

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@mohitmehra Can you.

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@mohitmehra / @siva I too would like the ability for money to be debited / credited directly from the bank account instead of having to figure out how much I need to transfer to the trading account as my investments change.

From my understanding it was close to launch last year but then some new regulations threw a spanner into the works. I recently signed up for Kuvera though and they took a mandate that allows them to do this. I’m assuming that means Zerodha too should now be able to implement the functionality.

I know the team is lean and this isn’t a high priority but it leads to a negative customer experience when the answer is ‘soon / working on it’ for over a period of 1-2 years and nothing comes of it. Something more definitive in terms of a timeline or the challenge faced in implementing it would be appreciated.

The eMandate feature is available, which automatically transfers funds from your bank account to trading account, more has been explained in the below post.

Is there an issue in the eMandate?I have a schedule for 3rd of every month and money isn’t debited this month nor did I get any notification for the emandate(saying the emandate debit is successfull) which I usually get every month .This issue has happened twice in last 4-5 months for me. Have already created a support ticket for the same.

Could you please DM your ticket number?

I have DM’ed the ticket number @ShubhS9

I have created a Emandate and schedule the date also. I have one query if the scheduled date will fall on Sunday what will happen. Is money will deduct from my account or not.