| I |
II |
III |
IV |
| 1 |
Automated Teller Machines (ATMs) including Micro-ATMs |
| a |
Customer’s account debited but cash not dispensed. |
Pro-active reversal (R) of failed transaction within a maximum of T + 5 days. |
₹ 100/- per day of delay beyond T + 5 days, to the credit of the account holder. |
| 2 |
Card Transaction |
| a |
Card to card transfer
Card account debited but the beneficiary card account not credited.
|
Transaction to be reversed (R) latest within T + 1 day, if credit is not effected to the beneficiary account. |
₹ 100/- per day of delay beyond T + 1 day. |
| b |
Point of Sale (PoS) (Card Present) including Cash at PoS
Account debited but confirmation not received at merchant location i.e., charge-slip not generated.
|
Auto-reversal within T + 5 days. |
₹ 100/- per day of delay beyond T + 5 days. |
| c |
Card Not Present (CNP) (e-commerce)
Account debited but confirmation not received at merchant’s system.
|
| 3 |
Immediate Payment System (IMPS) |
| a |
Account debited but the beneficiary account is not credited. |
If unable to credit to beneficiary account, auto reversal (R) by the Beneficiary bank latest on T + 1 day. |
₹100/- per day if delay is beyond T + 1 day. |
| 4 |
Unified Payments Interface (UPI) |
| a |
Account debited but the beneficiary account is not credited (transfer of funds). |
If unable to credit the beneficiary account, auto reversal (R) by the Beneficiary bank latest on T + 1 day. |
₹100/- per day if delay is beyond T + 1 day. |
| b |
Account debited but transaction confirmation not received at merchant location (payment to merchant). |
Auto-reversal within T + 5 days. |
₹100/- per day if delay is beyond T + 5 days. |
| 5 |
Aadhaar Enabled Payment System (including Aadhaar Pay) |
| a |
Account debited but transaction confirmation not received at merchant location. |
Acquirer to initiate “Credit Adjustment” within T + 5 days. |
₹100/- per day if delay is beyond T + 5 days. |
| b |
Account debited but beneficiary account not credited. |
| 6 |
Aadhaar Payment Bridge System (APBS) |
| a |
Delay in crediting beneficiary’s account. |
Beneficiary bank to reverse the transaction within T + 1 day. |
₹100/- per day if delay is beyond T + 1 day. |
| 7 |
National Automated Clearing House (NACH) |
| a |
Delay in crediting beneficiary’s account or reversal of amount. |
Beneficiary bank to reverse the uncredited transaction within T + 1 day. |
₹100/- per day if delay is beyond T + 1 day. |
| b |
Account debited despite revocation of debit mandate with the bank by the customer. |
Customer’s bank will be responsible for such debit. Resolution to be completed within T + 1 day. |
| 8 |
Prepaid Payment Instruments (PPIs) – Cards / Wallets |
| a |
Off-Us transaction
The transaction will ride on UPI, card network, IMPS, etc., as the case may be. The TAT and compensation rule of respective system shall apply.
|
| b |
On-Us transaction
Beneficiary’s PPI not credited.
PPI debited but transaction confirmation not received at merchant location.
|
Reversal effected in Remitter’s account within T + 1 day. |
₹100/- per day if delay is beyond T + 1 day. |
