The end date for UPI mandates for the IRCTC IPO was 11th October 2019. The investor’s bank is supposed to release the blocked amount automatically after the mandate end date. In case the release has not been processed for you, you can report it at [email protected] to NPCI.
We have noticed investors from certain banks (including HDFC and SBI) have been facing this issue. We have reported it to NPCI and they have assured us they are working on getting the funds released at the earliest. However, the blocked funds are still in your account and earning interest as they would normally.
The end date for IRCTC IPO mandates was 11th October, 2019. There is no option to edit or delete bids since the issue window closed on October 3rd. The registrar shares the allotment data with the banks two working days before the issue date (10th October 2019 in this case). The investor’s bank is supposed to release the funds once they have the allotment data or automatically by the mandate end date at the latest. You can report these failures at [email protected] to NPCI.
I am hearing various problems related to upi mandate . Is there any specific reason of applying through UPI instead of using ASBA facility. I used ASBA and didn’t have any problem regarding unblocking of funds. So why not use ASBA instead of UPI.
While applying for IRCTC IPO through Zerodha, I created a UPI mandate which was then deleted and created another one. So I have got 2 UPI mandates blocking my funds in the bank for 15 days now. They were supposed to expire on 11th of October but the funds are still blocked even though no one has claimed it. No one among Bank/Zerodha/Phonepe seems to know anything about UPI mandates or when or if the funds will ever be unblocled. Sent a mail to NPCI regarding this but haven’t hotten any reply. Anyone else facing this issue? Anyone whose mandate expired and funds were actually unblocked?
I also wrote to basically everyone… Alankrtit, upi ncpi, icici… The funds are unblocked now though. But I can still see the funds blocked in phonepe… But they are seen as unblocked inside icici online bank web. Maybe phonepe status will update after a day.
Myself, Suman Dey- an investor who got interested and invested for the first time in IPO of Devyani International on 4th, got almost same issue you faced.
I’ve applied through NJ securities , my bank is sbi- I have wrongly I’ve created two mandates- one of which showing rejected, another one still active in SBI BHIM upi app. contacted with sbi & NJ Securities - both saying they can’t remove the blocked amount.
It’s exactly 15 days , the mandate will expire on 21st August. I am feeling hopeless as nobody seems to take responsibility.
As you have experience, can you tell me how this problem got solved for you? or may be what I can do now to get my problem solved.