RBI RETAIL DIRECT
Introduction of UPI Mandate (single-block-and-single-debit) Facility on RBI Retail
Direct Platform
Payments are made by the Retail Investors at the time of placing the bid or before the
bidding closure time. Presently the RBI Retail Direct Portal facilitates payments through
NACH, Net Banking and UPI. Retail Direct has tied up with various payment Gateways for
NACH, Net Banking and UPI.
UPI Mandate (Single-Block-and-Single-Debit) payment facility is now being introduced on
RBI Retail Direct, in addition to the existing NACH, Net banking and UPI options.
This facilitates the block of the Indicative settlement Amount in the Investors account at the
time of placement of bid and the actual debit from the Investors account on the Auction date.
Thus Investors are not required to pay the bid amount at the time of placing the bid. This
facility presently has a limit of Rs 5 lacs.
The UPI Mandate payment processes involves the following:
1. While making Payment for a bid, Investors have to select the UPI Mandate Option.
2. Investors need to enter VPA id and select UPI extension in the field provided in the
payment page.
3. The Mandate Creation request will be received in the Investor’s UPI App and that
needs to be approved by investor.
4. The required amount will be blocked in the investor’s registered bank account.
5. Bid Indicative amount will be auto debited from the investors bank Account on
Auction day before the Bid is submitted to RBI for Auction.
6. Post Auction allocation, excess mark-up amount will credited back to the Investors
account.
How to make Bids Payment using UPI Mandate.
1. After Bid placement, move to Fund Transfer screen and select UPI Mandate
Payment option
Select Payment options as
UPI mandate
Enter VPA Id
Select VPA
Extension from the
Acknowledge Terms
list
and Conditions
Click on
2. The Investor is redirected to Payment Gateway Page. A UPI Mandate creation
request is also received on UPI App of the Investor. Once the Mandate Creation
request is approved in UPI App, a successful payment confirmation message will
be received in Retail Direct page. The required amount is also blocked in the
investor’s Bank Account.
3. Bid & Payment status appear on the My Bids screen
My Bid Screen Bid No
Bid status as ‘Applied’ & payment
status as ‘Pending Mandate
2
4. Payment details appear on the Fund Activity screen
Payment Gateway displaying as ICICI BANK
Bid No and Order and Fund status as ‘Pending/ Pending Mandate
Execution/ Accepted/ Confirmed’
No
Fund Activity
Screen
Activity type as ‘Bid Payment’ and
Payment Mode as ‘UPI Mandate’
5. On Auction date, the bid amount is debited from the Investor Bank Account and
blocked amount is released. The same is also captured in the RD system in Bid
and Payment status. Once the bid amount is credited to Retail Direct Bank
Account and ‘Bid’ & ‘Payment’ status changes accordingly. The Bid is ready for
being submitted to RBI.
Once Bid amount is debited from Investor’s
Account, Bid and Payment status changes to
‘Funded’ and ‘Accepted’
Once Bid amount is credited to Retail Direct
Bank Account from Investor’s Account, Bid
and Payment status changes to ‘Sighted’ and
6. After UPI mandate Creation for an Active Bid, if the Investors withdraws the Bid,
the UPI Mandate is Revoked and Blocked amount is released from the Investors
bank Account.
