A standing instruction (SI) is a remittance facility by which Bank can set mandate to debit / effect fund transfer from yours' A/c to designated beneficiary A/c on real time basis.
Standing instructions can be used for:
Repayment of loan by deduction EMI - Instalments at specific intervals.
Payment of Utility Bills.
Transfer to Recurring deposit accounts.
Payment of Safe deposit rentals.
Payment of Employee salaries.
Payment of Dividends to shareholders.
Inter account transfers of FD interest at stipulated intervals.