November 18, 2020

Dear Sheru,

I am happy to announce the launch of Auto-Pay Mandate (ENACH) in Sharekhan to allow customers to pay their monthly Systematic Investment Plan (SIP) installment in a hassle-free manner.

With Auto-Pay Mandate, customers can make automated recurring payments for their SIP every month by registering for the facility and completing the one-time verification by linking their bank account, on the Sharekhan website (post- login mutual funds dashboard).

Previously, the process to enable auto-payment or ACH was manually executed as customers had to submit a hard copy of the form to their nearest branch. The same can now be done digitally in not more than a few minutes.

Notably, Auto-Pay Mandate will be compulsory for customers registering new SIPs through Sharekhan going forward.

Benefits of Auto-Pay Mandate:

1. An easy three-step online/digital process;
2. No need to sign and send a hard copy of the mandate to a branch;
3. No constant payment reminders or defaults on SIPs; and
4. A completely transparent and secured process - the transaction history can be traced through the user’s bank statement as well as on our platforms accessible through transaction reports.

I urge each of you to reach out to your SIP customers who do not have ACH registered with us and ensure they register for Auto-Pay Mandate. In order to know how a customer can register for the new facility, click the link below for a presentation on Auto-Pay Mandate prepared by the Digital Assets team.

Thank you.

Best regards,
Jean-Christophe Gougeon
Director