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Thread: ATM glitch: Banks to repay amount in 7 days

  1. #1
    PolicyWala Fan
    Join Date
    Apr 2009
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    Shimla
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    54

    Exclamation ATM glitch: Banks to repay amount in 7 days

    As per an RBI directive, banks will have to credit the wrongly debited amount to the customer's account due to failed ATM transactions within seven days of the complaint from 1st July'2011 onwards, as against the current norm of 12 days.

    As per RBI guidelines, the banks would have to pay Rs. 100 per day beyond 7 working days, but only if the complaint is lodged within 30 days of the date of the transaction.



  2. #2
    PolicyWala Newbie
    Join Date
    Apr 2009
    Location
    Kolkatta
    Posts
    46

    Default

    Good initiative by RBI.


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