Banks will compensate for non solving ATM transaction and recredit the account within 7 days. The compensate will be 100 Rs per day from the 7th day of receipting the complaint. RBI issued a circular about failure of ATM transactions and reduce the timings of solving the ATM transaction failure. The main points of this circular are as under.
2- If bank doesn't recredit account with in 7 days from the day of receipt of complaint, bank need to compensate 100 Rs. per day after the 7th day.