RBI warns the banks against failed ATM transactions

RBI RESPONDS TO CUSTOMERS’ WOES FINALLY

This is in response to the press note on 28^th may in Deccan Chronicle that the RBI has one more time came with guidelines (or strict warning?) to all the banks in India that the amount that was wrongfuly debited from the accounts during the ATM transactions must be reimburse within12 days from the failed transactions or it must compensate the customer at the rate of Rs 100 per day till it materialise the transaction.

It may be noted that the banks are not following the guidelines issued by the RBI as it is the third time that RBI issue the notification in this regard since 2008. 

For Rights Point Team