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Banking law - Recrediting failed ATM transaction

(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
Raj Kumar Makkad (Expert) 22 September 2009
Well replied by Kiran ji.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


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