This document provides dos and don'ts for agents and DOs regarding the National Automated Clearing House (NACH) process for Life Insurance Corporation of India (LIC). Key points include: 1. Separate NACH forms must be used for each policy, with 5 policies requiring 5 forms. 2. A cancelled cheque or passbook copy must be included to verify account details like name, number, and IFSC code. 3. The core banking account number must be written correctly including initial zeros from the leftmost block. 4. The policy number and amount will be filled by LIC officials for new business cases. 5. Mandate rejections by the destination bank

1. Do’s & Don’ts
of
NACHNACH
for
Agents & D.O’s NvM

2. Use Original Form
Xerox Copies Not Allowed

3. Separate Form
For Each PolicyFor Each Policy
5 Policies 5 Forms Required

4. Cancelled Cheque
OrOr
Passbook Copy
with
A/C Holder Name, A/C No, IFSC Code etc
XEROX COPY must be CLEAR one showing above details

5. Core Banking
Account Number
(As per cheque book or Passbook)
(Write from the Left Most Block)(Write from the Left Most Block)
(Minimum 9 Digits & Maximum 20 Digits)
Start
From
Here

6. Write
Core Banking
A/C NoA/C No
Including
Initial Zero’s
must be written

7. Tick Create Box
forfor
New Business
&
Conversion form Ordinary to NACH

8. Pay
2Premiums2Premiums
for
Monthly
Mode Cases

9. Don’t Fill
Amount & UMRN NumberAmount & UMRN Number
Don’t
FILL
Don’t
FILL

10. For
New Business Cases
Policy NumberPolicy Number
&
Amount
will be filled by NB officials

11. Mobile Number
of
CustomerCustomer
is
COMPULSORY

12. Period From
Current Date
Date of Commencement
Current Date
Date of Commencement
Date of Alteration
(Always Prior to NACH Debit Date)

13. Automatic
Debit Date OptionsDebit Date Options
7th / 15th / 22nd / 28th
LIC DOC dates available ONLY between 1st and 28th of Every Month

14. System Generated
D.O.C DEBIT Dates
1st to 7th 7th1st to 7th 7th
8th to 15th 15th
16th to 22nd 22nd
23rd to 28th 28th

15. Customer Inputs
NOT REQUIRED
for
Pre-Ticked ColumnsPre-Ticked Columns

16. NACH Forms
Scanned & Uploaded
by Sponsor Bank in NPCI Websiteby Sponsor Bank in NPCI Website
UMRN No will be allotted by NPCI
Soft Data forwarded to Destination Bank
for Validation

17. Destination Bank
Charges Fee Per Policy for Validation
from Customer A/C
Required Bank Balance = NACH Amount + Fee for Validation
No Sufficient Funds for Fee
will
Lead to Mandate Rejection
with Remark
Required Bank Balance = NACH Amount + Fee for Validation

18. Mandate Rejection
By
Destination BankDestination Bank
for
Other Reasons
(A/C Closed / A/C Transferred / No Such A/C / Miscellaneous )

19. Acceptance of Mandate
Informed
By Bank to LICBy Bank to LIC
through
Soft Data

20. LIC ECS Centre
will
InformInform
Customer
By
SMS

21. Separate Form
For Each PolicyFor Each Policy
5 Policies 5 Forms Required

22. Separate Form
For Each PolicyFor Each Policy
5 Policies 5 Forms Required

23. Separate Form
For Each PolicyFor Each Policy
5 Policies 5 Forms Required

24. NACH MANDATE FORM
Do NotDo Not
Staple / Roll Up

25. NACH FORM
==
CHEQUE LEAF

26. In Case of Any Queries
Please Contact
MASH of Your Division
Or
sz_ecs@licindia .com of (Your Zone)
nz/scz/ez/cz
wz etc

27. NPCI = National Payment Corporation of India
NACH = National Automated Clearing House
UMRN = Unique Mandate Registration NumberUMRN = Unique Mandate Registration Number
Destination Bank = Customer Bank
Debit Date = Date on which Amount is withdrawn
MASH = Metro Area Servicing Hub

28. N = No Problem
A = AgentA = Agent
S = Servicing
H = Help Line

29. Wishing You ALL
Successful
NvM