eSign eMandate for business customers

Different banks have different policies for business customers authorising Aadhaar eSign eMandates.

There are many destination banks live for eMandates authorised via Aadhaar eSign. However, not all of them accept eSign eMandates for business customers (generally, these are current account holders). This is because Aadhaar eSign is, by definition, an individual's authorisation.

As with all eSign eMandates, the standard prerequisites still apply, including:

1. The authorised signatory of the bank account should have already updated their bank customer ID with their Aadhaar number, and should be the person authorising the eSign eMandate.

2. Mode of operation should be singly, such as 'Either or Survivor' or 'Any or Survivor'.

 Each destination bank has a different policy. Listed below are some of these policies. 'Yes' means the bank will accept such eSign eMandates.

• Andhra Bank: Yes for proprietorships, no for other business accounts

• Axis Bank: Yes for all types of business accounts

• Bank of Baroda: Yes for proprietorships, no for other business accounts

• Bank of India: Yes for all types of business accounts

• Canara Bank: No for all types of business accounts

• Corporation Bank: Yes for all types of business accounts

• HDFC Bank: Yes for all types of business accounts

• ICICI Bank: Yes for all types of business accounts

• IDBI Bank: Yes for all types of business accounts

• IndusInd Bank: No for all types of business accounts

• Karur Vysya Bank: No for all types of business accounts

• Kotak Mahindra Bank: Yes for all types of business accounts

• Punjab National Bank: No for all types of business customers

• Syndicate Bank: Yes for all types of business accounts

• Union Bank of India: Yes for proprietorships, no for other business accounts

• Yes Bank: Yes for all types of business accounts