UPI payment failed but money debited? Banks must refund and pay ₹100 per day compensation under RBI rules

Millions of Indians hit “send” on UPI every day, only to watch their account get debited while the money never reaches the other side. When that happens, you are not expected to wait indefinitely or pay again. Under Reserve Bank of India (RBI) rules, banks must reverse the amount within fixed deadlines: T+1 day for person-to-person transfers and T+5 days for merchant payments, or automatically credit you ₹100 for every day the refund is delayed.

Why UPI payments fail even after debit