Your SIP funds are not automatically debited because either your SIP is not linked to the mandate or specific conditions prevent the debit from processing.
SIP mandate requirement
You must link your SIP to the mandate to ensure automatic fund debiting according to your SIP schedule. The system will not generate a debit request if you do not link your SIP.
Reasons for debit failure, even with a linked mandate
Your funds may not be debited even when you link your SIP to the mandate in the following cases:
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Insufficient opening balance: Your SIP will fail if your opening balance on the transaction (T) day is less than the SIP amount. The system does not consider funds transferred to your bank account on the T day. Only your opening balance on the T day is considered for fund transfer.
Example scenario
If your SIP of ₹5,000 is scheduled for April 5th, you must ensure your bank account has a sufficient balance on April 4th. If your opening balance on April 5th is ₹4,000 and you transfer enough funds later to make up the SIP amount, the funds will not be debited, as your opening balance is insufficient.
Rejected by the bank: If you have a sufficient opening balance in your bank account, but the fund transfer still gets rejected, contact your bank for further clarification.