RBI tough on reimbursement of failed ATM transaction

Image by soham_pablo via Flickr

In a move to streamline the process and give some solace to customers using ATM, RBI on July 17th issued a notification to adhere to time frame of 12 working days from date of receipt of complaint from customers in case of reimbursement of failed transaction from ATM's and in case of failure to abide they shall pay compensation of Rs 100/- a day to the aggrieved customer.

Notification