General Studies · RBI Guidelines
A customer withdraws ₹50,000 from an ATM using their debit card. The ATM displays a successful transaction, but the bank's system shows the transaction failed, and the customer's account is debited. The customer reports the issue after 3 days. What is the bank's liability according to RBI guidelines for such failed ATM transactions?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Customer is fully liable since they reported after 24 hours.
- 2Bank can investigate, and if negligence is proven, customer may bear partial loss.
- 3Bank is not liable, and customer cannot claim reimbursement.
- 4Bank must credit the customer's account within the RBI-prescribed timeline as the issue was system-related.✓
Correct answer
Bank must credit the customer's account within the RBI-prescribed timeline as the issue was system-related.
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