When I approve a mandate request on my UPI app, will the amount be debited from my bank account immediately?
No. When you approve the mandate request for an IPO bid, the funds for your application are only blocked in your account (by marking a lien).
The amount is debited based on allotment. If you haven't received an allotment on your application, the mandate will be revoked after the allotment process and your funds will be unblocked. If you receive partial allotment, funds are debited to the extent of allotment.
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