19 Earn 100/Day From BANKS
19 Earn 100/Day From BANKS #shorts #bank #money
While it is a common thing to pay fines to banks, there is also a situation when banks will have to pay fine to us. Out of all the online transaction done through UPI, BHIM, Gpay, PhonePe or other sources, one out of every 10 transaction fails, but still the money can get debited from our account.
As per RBI circular, if such an instance happens, the money has to be reversed in 5 days (T+5) if money is being sent to a merchant through card payment or UPI. Similarly, the amount should be reversed in 1 day (T+1) if payment if made from one UPI account to another. This is knows as Turn Around Time.
If banks fail to do so, then they have to pay us fine of 100 rupee for every day's delay. If any problem is faced in getting this fine amount, you can approach RBI Banking Ombudsman Website. Watch the video to know all!
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