The 'bounce rate' on auto-debit transactions, or auto-debits that did not clear, has remained elevated over the last few months. Between April and October 2020, the bounce rate on debit transactions via the National Automated Clearing House (NACH) on average stood at 40.4% in volume terms and 33.5% in value terms, in comparison to 29% and 23%, respectively, during the same period last year, according to data from the National Payments Corporation of India (NPCI). As the Reserve Bank of India (RBI) announced a six-month moratorium on loan repayments for borrowers between April and September this year as part of its COVID-19 regulatory package, October is the first month where all borrowers had to pay their loan instalments. The NACH debit platform, operated by NPCI, processes auto-debit transactions for bank accounts for recurring payments like loan equated-monthly-instalments (EMIs) and insurance…
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