What is the maximum timeline allowed to a bank for reversing a failed ATM transaction where the customer's account was debited but cash was not dispensed, before a daily penalty of Rs 100 is levied, as per the Reserve Bank of India (RBI) guidelines?

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Current Affairs · RBI Guidelines on Failed ATM Transactions

Verified Solution4 OptionsUpdated: October 2026👁️1 View

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T + 5 days (Transaction day plus 5 calendar days).

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Answer 1

5 working days from the date of the transaction failure.

Answer 2

7 calendar days from the date of the customer complaint.

Answer 3

T + 5 days (Transaction day plus 5 calendar days).

Answer 4

T + 4 days (Transaction day plus 4 working days).

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