E-Mandate Cancellation & Refund Policy

RBWISHMFI · Effective: January 2025 · Version 1.2

Refunds within 7–10 working days

Original payment method

Verification required

1. REFUND AND CANCELLATION :

Upon receiving a valid cancellation request, RBWISHMFI will review the request and, where applicable, initiate cancellation of future debits under the customer's active e-Mandate.

If a customer makes a wrong, duplicate, or excess payment, the customer may request a refund by contacting RBWISHMFI through the designated customer support channels.

The customer must provide the relevant transaction details and supporting documents required for verification.

Upon successful verification and approval of the refund claim, the eligible refund amount will be processed through the original payment method used for the transaction.

Refunds will normally be processed within 7–10 working days from the date of successful verification and approval of the refund request.

The time required for the refunded amount to appear in the customer's bank account may vary depending on the customer's bank, payment service provider, or payment network.

2. REFUND PROCESS TIMELINE :

Submit Request

Day 0

Verification

1–2 working days

Refund Processing

7–10 working days after approval

Bank Credit

Varies by bank

Step 1 – Submit Request (Day 0): Customer submits the cancellation/refund request along with the required transaction details and supporting documents.

Step 2 – Verification (1–2 working days): RBWISHMFI reviews the request and verifies the transaction and supporting documents.

Step 3 – Refund Processing (within 7–10 working days after successful verification and approval): The approved refund is processed through the original payment method.

Step 4 – Bank Credit: The actual credit time may vary depending on the customer's bank or payment service provider.

3. DOUBLE EMI DEDUCTION — SPECIAL CASE :

If an EMI is deducted twice in the same month — for example, where an automatic e-Mandate debit occurs after the customer has already made the corresponding EMI payment — the customer may request a refund of the duplicate amount. This provision also applies where a duplicate deduction occurs against the customer's final scheduled EMI, subject to successful verification.

4. HOW TO RAISE A DOUBLE-DEDUCTION REFUND REQUEST :

Customers should contact RBWISHMFI customer support and provide the relevant loan and payment details.

The refund request will be reviewed after receipt of the required documents and successful confirmation of the duplicate deduction.

Once the duplicate deduction is verified and the refund is approved, the eligible amount will normally be processed within 7–10 working days.

The time taken for the refund to reflect in the customer's bank account may vary depending on the bank or payment service provider.

5. REQUIRED DOCUMENTATION :

Customers may be required to provide the following documents for verification:

Loan Account ID / Loan Account Number
Transaction Reference Number, where applicable
Bank statement showing the duplicate or excess deduction
Payment receipt/proof of manual payment, where applicable
Relevant NACH / ECS / e-Mandate details, where applicable
Any other information reasonably required for verification

6. HOW TO RAISE A REFUND REQUEST :

Customers can raise a refund or cancellation request through the following channels: Phone 7063284316 or Email mfi.rbwish@gmail.com.

Customers should keep their Loan Account ID, transaction reference number, payment details, and relevant supporting documents ready to facilitate timely verification.

7. REFUND ELIGIBILITY AND VERIFICATION :

All refund requests are subject to verification of the relevant transaction.

A refund will be processed only where the claim is found to be valid and eligible under the applicable terms and conditions.

Where a refund is approved, the eligible amount will be refunded through the original payment method, subject to applicable payment processing procedures.

8. GRIEVANCE OFFICER :

In accordance with applicable laws and regulations, the details of the designated Grievance Officer are provided below:

Name: RBWISHMFI

Phone: 7063284316

Email: mfi.rbwish@gmail.com

Customers may contact the Grievance Officer for unresolved complaints relating to cancellation, refund, duplicate deduction, or other payment-related matters.

9. POLICY UPDATES :

RBWISHMFI reserves the right to amend or update this E-Mandate Cancellation & Refund Policy from time to time. Any revised policy will be published on the official website and will become effective from the date specified in the updated policy.

Last Updated: January 2025 · Version 1.2

RESOLUTE BENEFACTOR WISH MICRO SERVICE FOUNDATION

Grievance Redressal Contact