RBI says failed transactions due to technical reasons should not be counted as valid ATM transactions
R Sinduja
News Editor
Image Credit: shortpedia
The RBI has explained that transactions due to technical reasons should not be counted as valid ATM transactions. Technical reasons include hardware, software, or communication issues, non-availability of currency notes, invalid PIN or validations and issues directly related to the bank or white-label ATM. So, neither banks nor white-label ATM operators should charge the customer for any failed transaction.
