What changed
RBI issued a directive requiring ATM network operators to submit quarterly data on resolution of complaints between operators and banks. The data must be in a specified Excel format and submitted via email within one month after each quarter ends.
What it means for you
Banks and ATM operators must now systematically track and report complaint resolution metrics to RBI. This enhances transparency and accountability in handling ATM transaction failures. Non-compliance with format or timeline could invite regulatory scrutiny.
What you must do
- Ensure your ATM network operator submits quarterly complaint resolution data in the prescribed Excel format.
- Submit the data via email within one month of each quarter's end.
- Verify strict adherence to the format and timeline to avoid regulatory issues.
- Coordinate with your ATM operator to maintain accurate records of complaint resolutions.
Who it affects
All authorized ATM network operators, Banks with ATM networks, Compliance teams handling ATM-related complaints
What is the deadline for submitting the quarterly data?
The data must reach RBI within one month after the completion of each quarter.
What format should the data be in?
The data must be submitted in the Excel format prescribed by RBI in the circular.
Who is responsible for submitting this data?
All authorized ATM network operators are responsible for submitting the data to RBI.