Tata Power, India’s largest integrated power company, has said that it has become the first Power utility to enable online, automated bill payments using e-NACH (Electronic National Automated Clearing House). IDFC Bank is a technology partner and a settlement banker to Tata Power. This is a new-age electronic online mandate registration process, launched by the National Payments Corporation of India (NPCI), where consumers of Tata Power, Mumbai can now e-sign the mandate online using Aadhaar-based verification.
The first-ever use of e-NACH via e-mandate in the power sector is expected to enhance customer experience and drastically cut Turn-Around-Time (TAT) for online registration. It also makes the process more convenient as consumers do not need to fill in physical forms and can now initiate their mandate registration on-the-go. Tata Power has collaborated with IDFC Bank to roll out this unique service for building customised technology that makes the digital solution user-friendly, while complying with NPCIs requirements. The implementation of e-NACH aligns with Tata Power’s approach of deploying innovative technologies that consistently enhance the quality of customer service. Meanwhile, shares of the company were trading at Rs 73.90 apiece, down 1.73 per cent from the previous close at 11:01 hours on BSE.
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