RBI directs banks to implement online dispute resolution mechanism for digital payments by Jan 01, 2020

RBI has advised the authorised Payment System Operators (PSOs) – banks and non-banks – and their participants to put in place system/s for Online Dispute Resolution (ODR) for resolving disputes and grievances of customers. The authorised PSOs shall be required to implement an ODR system for disputes and grievances related to failed transactions in their respective payment systems by January 1, 2021.RBI has advised the authorised Payment System Operators (PSOs) – banks and non-banks – and their participants to put in place system/s for Online Dispute Resolution (ODR) for resolving disputes and grievances of customers. The authorised PSOs shall be required to implement an ODR system for disputes and grievances related to failed transactions in their respective payment systems by January 1, 2021.taxmann.com Latest Statutory HappeningsRead More

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