New Delhi . The Chargeback System, which is being started by the National Payment Corporation (NPCI), will also provide relief to such customers, whose refund claims were rejected earlier. In the new rules, banks have been given exemption to re -investigate the old rejected cases. NPCI found in December 2023 that some people are repeatedly charging and misusing the system. Therefore, its limit was fixed.
If a customer has charged more than five times a month or more than five times with any one person, then his next refund claim was rejected, but now it is also believed that some real claims are also stopping due to these rules. In view of this, this new system has been brought.
Bank old cases will be investigated again
The new chargeback system will work closely with the claim process already existing and will provide additional facilities to banks to re -investigate the old rejected cases. The biggest benefit of this change will be to consumers, as they will not need to file a complaint repeatedly. The banks themselves will identify that in which cases there is a refundable situation and will be able to resume the refund process on the same basis.
Permission needed finish
In the new rules, banks will no longer need to get separate approval from NPCI to return the amount. Under this new system, if a transaction fails or due to technical flaw, the money does not reach the beneficiary by deducting the money from the customer’s account, then the banks will be able to start the refund process by sending that transaction directly to NPCI.
Who will benefit?
1. Customers will get money back quickly, the chances of fraud will be less.
2. The time of banks will be saved, NPCI’s approval will not have to wait.
3. Trust and transparency in the government’s digital payment system will increase.
What to do in the event of wrong transaction?
1. Contact the bank: Inform your bank or UPI service provider (eg Google Pay, Phonepe) immediately. Provide details like transaction ID, amount, date and wrong UPI ID.
2. Contact the recipient: If the recipient’s phone number or UPI ID is available, request them to return the amount.
3. Complain to NPCI: If no solution is found, file a complaint on the NPCI website.
