ATM transactions which fail on account of technical reasons like hardware, software, communication issues and non-availability of currency notes cannot be counted as valid transactions for the customer, according to the Reserve Bank of India.
What this means is that such transactions will not be included in the number of free ATM transactions.
No charges can be levied on transaction which fail on account of technical reasons and other declines ascribable directly/wholly to the bank/service provider; invalid PIN/validations; etc, the RBI said in a clarification to banks and white-label ATM operators.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.