Money does not come out from the ATM but what if you are being cut from the account?
Learn what is the new rule of RBI
Money does not go away from the ATM, but what if you are cut off from the account? Learn what is the new rule of RBI
Tags: atm banks India national news rbi
When you go to take out an ATM from your ATM, it often happens that the money can be deducted from your account but not in your hands. When this happens the Reserve Bank has issued a new rule in your advantage. Read the next slide in the new rule of RBI.
If you go for an ATM withdrawal and the amount is deducted from your account even if you do not get into your hands, the bank will have to give you the money back. And if the bank does not refund the money in the prescribed time limit then it will be refunded with a penalty of 100 rupees for each delayed day.
Banks will have to deposit this amount in your account within seven days. The time limit for depositing money for the first banks was 12 days, but the RBI has also changed the limit with the rule.
When money is withdrawn from your ATM and it is not in your hands, you will have to make a complaint in the home branch. Money lost in seven days of the complaint will be credited to your account.
If the bank fails to deposit the money in seven days, it will also be given a penalty of 100 rupees per day delayed.
Click here to read in gujarati
Learn what is the new rule of RBI
Money does not go away from the ATM, but what if you are cut off from the account? Learn what is the new rule of RBI
Tags: atm banks India national news rbi
When you go to take out an ATM from your ATM, it often happens that the money can be deducted from your account but not in your hands. When this happens the Reserve Bank has issued a new rule in your advantage. Read the next slide in the new rule of RBI.
If you go for an ATM withdrawal and the amount is deducted from your account even if you do not get into your hands, the bank will have to give you the money back. And if the bank does not refund the money in the prescribed time limit then it will be refunded with a penalty of 100 rupees for each delayed day.
Banks will have to deposit this amount in your account within seven days. The time limit for depositing money for the first banks was 12 days, but the RBI has also changed the limit with the rule.
When money is withdrawn from your ATM and it is not in your hands, you will have to make a complaint in the home branch. Money lost in seven days of the complaint will be credited to your account.
If the bank fails to deposit the money in seven days, it will also be given a penalty of 100 rupees per day delayed.
Click here to read in gujarati