According to RBI the bank would have to pay minimum of rupees 100 per day for this act.

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Some time it happens when we go to draw some cash from ATM machine does not apportion the cash and the cash gets cut from your bank balance.

Don’t worry if the ATM machine does not release your cash for any technical fault, There is nothing to stress over it.

atm machine

The bank not even will refund your cash but also have to pay some penalty for this act.

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If anybody lodge a complaint against this transaction to the dealing bank and he doesn’t recover his amount with in seven working days, then according to RBI, the bank would have to pay minimum of rupees 100 per day, as penalty to the client under Payment and System Act 2007.

 

It is compulsory to lodge a complaint within 30 days of this transaction happens.

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