Time limit for referring a case to Arbitration is 30 days from the date when the original charge-back was rejected. Disputes in Arbitration can either result in Acceptance of charge-back by the Acquiring Bank (customer gets refund of the Failed ATM transaction) or the Acquiring bank not accepting the charge-back, in which case the dispute will go to a Panel called PRD - Panel for Resolution of Disputes. This Panel has been created in NPCI by order of Reserve Bank of India vide their circular DPSS.CO.CHD.No.654/ 03.01.03 / 2010-2011 dated September 24, 2010 and consists of the CEO or COO of NPCI and four members of the Steering Committee of the National Financial Switch (NFS). It is a high level body and for some reason, NPCI has managed to keep this system of Arbitration and the exixtense of PRD, a closely guarded secret. Most bankers in the country are not aware of this system leave alone bank customers. Only a few hundred cases are referred to PRD in a year whereas the number of complaints of Failed ATM Transactions is in Lakhs every year. Referring a case to PRD requires a fee of Rs. 500 to be paid by the issuing bank that may or may not be recovered from the customer. PRD gives its decision within 15 days. Any party, the bank or the customer who is not happy with the decision of the PRD can go in appeal to the Appellate Authority who will be the Regional Director of the Reserve Bank of India's office under whose jurisdiction the transaction happened or the Chief General Manager of the Department of Payment & Settlement Systems of RBI in Mumbai in case the transaction happened in the four metros - Delhi, Mumbai, Chennali, Kolkata.
All banks have access to DMS where Arbitration and PRD process is to be initiated. I strongly recommend that if your genuine ATM complaint of a Failed Transaction is rejected by an Acquiring Bank, you should force your Card Issuing Bank to take the matter to Arbitration and then to PRD. Be willing to pay Rs. 500 if your bank insists on it.
Knowreserve.com is perhaps the only source from where you could get this information. Please share this page with your friends and help them.