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Corporate Laws Central Ministry of Finance Reserve Bank of India Act, 1934

Revision of TAT for UPI Disputes in URCS

21-Jun-2024 | NPCI/UPI/OC No.198/2023-24

NPCI has issued a circular on Revision of TAT for UPI Disputes in URCS. By virtue of the circular, member banks are advised to ensure that ODR facility is made available to the customers, success rate of complaints routed through ODR is maintained at a high %age and advise the customers to use ODR facility for resolving their complaints. In order to bring down the complaint life cycle it has been decided to revise the window for the customer to raise chargeback to 45 days uniformly for all categories. Please refer Annexure- 1 of attachment for existing and revised TAT details. The revised TAT shall be operationalised w.e.f. 25th July 2024. i) Up to 24th July the banks can raise chargeback as per the existing TAT ii) With effect from 25th July chargeback can be raised as per the revised TAT only even if the transaction has taken place before the effective date. There will be no change in TAT or process for NPCI compliance penalties (viz. TCC, RET, RRC, DRC) and RBI customer compensation process. For more information refer the attachment.

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