Similar case.
I had setup new SIPs, thought they will be triggered from the next month.
But orders got placed 2 days ago which I instantly cancelled and even deleted the enach mandate.
But the amount got deducted earlier today
Hi @yashash , Since your SIP was mapped to a NACH mandate, both the SIP and mandate are triggered on T-2 days, following which funds are debited from your bank account. In your case, the SIP was triggered, which means the mandate debit instructions were already created. Therefore, even though the SIP was subsequently cancelled, the funds will still be debited from your account as the debit process was already initiated. However, since the orders have been cancelled, the debited amount will be refunded by ICCL on T+4 days.
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Thanks!