Harmonisation of Turn Around Time and customer compensation for failed transactions

Reference

DPSS.CO.PD.No.629/02.01.014/2019-20

Issued

20 Sept 2019

Effective

In force · 15 Oct 2019

Scope

Card txn debited, merchant not credited → auto-reversal ≤ T+5 days, ₹100/day thereafter; ATM cash not dispensed → T+5, ₹100/day; UPI P2M → T+5, ₹100/day; UPI P2P → T+1, ₹100/day.

verify — sourced from RBI notification, pending confirmation against the regulator's text.