Banking law - Recrediting failed ATM transaction
A.R.Mukundan
(Querist) 22 September 2009
This query is : Resolved
"It is mandatory for the banks to reimburse the customers the amount wrongfully debited on account of failed ATM transactions within a maximum period of 12 working days," the RBI said in a notification.
It also made it compulsory for banks to re-credit customer's account automatically on the 12th day after the failed transaction, without the customer having to make a claim, and told banks to extend the scope of audit to cover cases of delay in reimbursing the customers in these cases.
- My query is if Bank fails to recredit within 12 days and refuses to compensate, then how the aggrieved person should proceed?riven
Kiran Kumar
(Expert) 22 September 2009
u can avail remdey under CONSUMER PROTECTION ACT or may appraoch the BANKING OMBUDSMAN.riven
Bhumik Dave
(Expert) 23 September 2009
Mr. Kiran is right.riven
Adinath@Avinash Patil
(Expert) 24 September 2009
you may file consumer complaint in consumer court against bank.riven
