When is a person liable to receive compensation from banks?

When a digital or ATM transaction fails, banks must pay ₹100/day if they fail to resolve the issue within the RBI-prescribed timeframe. If a credit card closure request is not processed within seven working days, banks must pay ₹500/day. Home loan borrowers are entitled to ₹5,000/day if banks fail to return original property documents within 30 days of loan settlement.