If you approved the payment and the amount is blocked but the UPI app shows as mandate failed; in such scenario, The bank, NPCI and the exchange run a 3 way reconciliation to check for successful applications and fund blocks. If your block status is not updated at the UPI app level or exchange level, the RTA may still consider your application since your funds are successfully blocked with the bank.
If your funds aren’t blocked, you can delete the application you have made and apply again.
I had applied for Mazgaon Docks IPO. I accepted the mandate. Application accepted. But the amount which is to be blocked still flashing on my Bank Account.
I applied for mazgaon dock IPO today 30 Sept,20 when i’m trying to approve the mandate, i’m getting an error in UPI as “ORIGINAL REQAUTHMANDATE NOT FOUND” what could be ur suggestions…thanks
You can delete the application you have made and apply again, maybe from different UPI app. If the issue still persists you can apply through Netbanking ASBA, the process has been explained here.
Not yet. I lodged a complaint with my bank, no response on that. I am just waiting till the mandate end date and hoping it will get unblocked till then.
If your application is rejected but amount is blocked, you can delete the rejected application and apply for new one. Blocked amount will be released within 24-48 hours. I have faced the same issue during Chemco IPO.
Yes, amount will flash in your account but you cannot withdraw or make a transaction. Total account balance and available balance will vary if you observe. If you accpeted the mandate and if you receive request stating block mandate successfull, then the above will be right.
I have accepted upi mandate and fund is blocked but console showing request accepted by sponsor bank and request recieved by sponsor bank in zerodha console
what do I do?
Mandate accepted and funds blocked but status not updated on Console - Console displays the UPI status last received from the exchange. This status is likely to get updated as the banks reconcile their records with the exchange. The exchange will share their file with the RTA at the end of the issue and the RTA will check if the amounts are blocked using the bank’s file to do the final reconciliation before allotment.