Feedback Message Board

Hi upi mandate successfully created for krsnaa but while enable autopay it got failed so i removed that autopay but amount has becen successfully block will i face any issue while allotment in getting amount deduction

5th Aug’21 I had authorised one mandate for an Exxaro Tiles IPO and soon I had cancelled it. As while authorising I had recieved a network error. Today the broker confirmed the cancellation but on the google pay to my surprise it was appearing in pending ( processing) and completed (authorization failed) tab. I have checked with the bank statement and the amount is still blocked. Also I recieved a sms stating, “ the UPI-Mandate of Rs.15000/- could not be cancelled due to VH.

First, delete/ withdraw/ cancel the IPO application in case if it is not canceled. Then contact your bank branch with a proper written application requesting them to release the lien amount or unblocking the funds. Specify the following details in your application,
1. Application No.
2. Unique Mandate No. (UMN) (if applied through UPI)
3. Customer / Transaction Reference No.
4. Bank Reference No. (if applied through ASBA Netbanking )
5. Attach the Self-attested photocopy of any Identity card (Aadhar or PAN, etc) with the application.
Many Bank Branches clerk don't know how to release the IPO lien so directly go to the Branch Manager with the application.
You can make the above application in the following cases:
1. IPO application was withdrawn within the closure of the IPO date but funds were still on lien / blocked.
2. IPO application was rejected on a technical basis and funds were still on lien / blocked.
3. IPO application had payment status like "Pending" or "Request accepted by Sponsor Bank" and not "Accepted by Investor". This status is shown even after successfully creating the UPI Mandate.
4. IPO Application was rejected due to failure of mandate but amount got blocked / lien.

Important Note - Use "Bhim App" ONLY. Don't use GPay or Phonepe or any third-party UPI apps to create the mandate.