CCPA Asks RBI To Intervene In Online Transaction Issues; Many People Complain About Delay In Refund
New Delhi, 4 Jan 2021: While online payment has made our life easier; on the other hand, customers often face technical issues. Many a time, an online transaction is not successful. In such cases, customers have to wait for the bank’s refund, which sometimes becomes excessively long.
Recently, Nidhi Khare, Chief Commissioner of Central Customer Protection Authority (CCPA) has written a letter to the Reserve Bank of India (RBI) regarding the issue and has asked to intervene.
Khare has mentioned that 2,850 cases have been registered by the National Consumer Helpline (NCH) where money was not refunded to customers in the case of transaction failure. She has also pointed out that it is not like banks are not returning the money, but they are not refunding the money in the prescribed time mentioned in the RBI’s guidelines. Moreover, NCH’s analysis of complaints showed that banking services like IMPS and UPI are also witnessing a surge in such incidents.
Khare has asked RBI to take cognizance of the matter and order the banks to follow the prescribed time. The customers should get back the stuck payment, and the CCPA is ready to give full assistance to RBI in this matter.
