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

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