Know What Your Bank Owes You
RBI has set clear deadlines, and in many cases automatic compensation, for common banking problems. Most customers never claim it. Choose your problem, enter the dates, and see what your bank owes you, when to escalate, and a ready-to-send complaint letter.
Your complaint timeline
Your complaint letter
You can edit the letter before copying. Send it by email to the bank's grievance address or give it at the branch, and keep the acknowledgement.
Why this tool?
RBI rules require banks to reverse failed transactions on time, refund fraud losses when you are not at fault, fix credit report errors within 30 days and settle deceased customers' claims within 15 days, often with automatic compensation. These rules are spread across different circulars and most people never hear of them. In August 2026, RBI even penalised major credit bureaus for not paying the compensation they owed customers.
Official sources
- RBI/2019-20/67: Turn Around Time and compensation for failed transactions (20 Sep 2019)
- RBI/2017-18/15: Limiting liability of customers in unauthorised electronic banking transactions (6 Jul 2017)
- RBI/2023-24/72: Compensation for delayed updation/rectification of credit information (26 Oct 2023)
- RBI/2025-26/82: Settlement of claims in respect of deceased customers (26 Sep 2025)
- Reserve Bank – Integrated Ombudsman Scheme, 2026 FAQs (effective 1 Jul 2026)
Frequently asked questions
Does my bank have to pay me for a failed ATM or UPI transaction?
Yes. Under RBI's Turn Around Time framework (RBI/2019-20/67), if a failed transaction is not reversed within the deadline (T + 1 day for UPI and IMPS transfers, T + 5 days for ATM cash not dispensed), the bank must pay ₹100 for every day of delay, automatically, without waiting for your complaint.
Will I lose money if someone makes a fraudulent transaction from my account?
If the fraud happened without any fault on your side (you did not share your OTP, PIN or password) and you report it within 3 working days, your liability is zero. If you report in 4 to 7 working days, your liability is capped at ₹5,000, ₹10,000 or ₹25,000 depending on the account type. The bank must credit the amount back within 10 working days of your report while it investigates.
My CIBIL report has an error and nobody is fixing it. What can I do?
Under RBI circular RBI/2023-24/72, if your complaint is not resolved within 30 calendar days of first filing, you are entitled to ₹100 per day of delay from the lender or the credit bureau responsible. Keep proof of the date you first complained.
How long can a bank take to settle a deceased person's account?
Under RBI's 2025 Directions, banks must settle claims within 15 calendar days of receiving all required documents. For delays caused by the bank, they must pay interest of at least Bank Rate + 4% a year for deposits, or ₹5,000 per day for lockers.
When can I complain to the RBI Ombudsman?
First complain to your bank. If there is no reply in 30 days (or the longer time RBI allows for that issue, such as 90 days for fraud cases), or if you are not satisfied with the reply, you can complain free at cms.rbi.org.in or call 14448. Under the new RB-IOS 2026 (from 1 July 2026), you must do this within 90 days.
Do I need a lawyer or agent?
No. Complaints to your bank and to the RBI Ombudsman are free and can be filed by you. Be careful of anyone who asks for money to 'get your refund'.
Related: Account frozen after a cyber complaint · AI-powered banking frauds · Digital payment safety checklist
Built by Sathikbasha, a banking professional from Pondicherry, India. Results are estimates for guidance only; your bank's documents are the final reference. Views expressed on this website are personal and do not represent any employer or institution. Content is for general awareness and education only and is not financial or investment advice.