Current Affairs - Banking - Discussion

Discussion :: Banking - Latest Current Affairs (Q.No.62)

62. 

What is the timeline of auto reversal of transaction for a bank, when the amount debited from one card but did not reach another card(card to card transfer) as per new guidelines of Reserve Bank of India(RBI)?

[A]. 1 day after failed transaction
[B]. 3 days after failed transaction
[C]. 5 days after failed transaction
[D]. 10 days after failed transaction

Answer: Option A

Explanation:

As per new guidelines of Reserve Bank of India, During the Card to card transfer, if the amount debited from one card but did not reach another card then the respective bank has to pay back the amount to the customer in 1 day after failed transaction.

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