📷 Image: Wikimedia Commons / Ministry of Parliamentary Affairs
Politics
MP Introduces 730-Day Cap on Failed E‑Payment Refunds
✍️ The Times of India
🗓 05 Oct 2026, 12:46 AM
👁 13
A Member of Parliament has announced a new rule limiting the period for refunding failed electronic payments to 730 days.
A Member of Parliament today announced a new regulation that caps the refund period for failed electronic payments at 730 days.
Under the new rule, consumers and businesses will have a maximum of two years to receive a refund after a failed e‑payment transaction, replacing the previous indefinite waiting period.
The move comes amid growing concerns over delayed refunds and the lack of clear timelines in digital payment disputes. Industry experts say the cap will provide greater certainty and encourage quicker resolution of payment failures.
The policy is expected to be implemented within the next fiscal quarter, with the Ministry of Finance issuing detailed guidelines for payment service providers.
Under the new rule, consumers and businesses will have a maximum of two years to receive a refund after a failed e‑payment transaction, replacing the previous indefinite waiting period.
The move comes amid growing concerns over delayed refunds and the lack of clear timelines in digital payment disputes. Industry experts say the cap will provide greater certainty and encourage quicker resolution of payment failures.
The policy is expected to be implemented within the next fiscal quarter, with the Ministry of Finance issuing detailed guidelines for payment service providers.