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Failed UPI transactions? Banks to pay Rs 100 per day penalty for delay beyond 2 days


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.





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