Fraud transaction refusing to cancel as a customer when i am requesting.?

Question

I am using your bank credit card, i found there is one dispute transaction happen to the merchant MOBIKWIK for the amount 2000/-.per the bank they need to send OTP and transaction confirmation message to my registered mobile but it is not happen this case. This is because i raised compliant to bank support team to cancel the transaction based on the authorization code which bank sent to merchant. But they are saying we will investigate and let you know. Here my question to the bank, As a customer i am requesting to cancel the transaction why they need to do the investigation i am not understanding. Please help me on this issue and it will help to other who are suffering the same.
Thanks & Regards, 
Kumar Manikonda

Answer 1

Dear Kumar

At the outset, let me clarify that this site is designed by a group of Senior Banking Professionals to assist Bank Customers at large to provide guidance for resolution of any complain/query/grievance in respect of financial services. This site does not belong to any Bank or a regulator, which may please be noted.

It is an online transaction, which seems to have been authenticated, as can be understood from your mail.  An online transaction would not be successful, unless the confidential credentials are input. Hence, bank would investigate, as to how it was successful, if not authenticated, as you claim.  Since you have not indicated the date of transaction and complaint to the bank, can't assess the timeline for bank's revert.  Please do await the response from bank and if it is not to your satisfaction, may further take it up, as per process given here under.

1.    Go to your Bank’s website and search for grievance redressal (or similar name) button and submit your complaint online.

2.    If you do not receive any reply / satisfactory reply within 10 days, lodge your complaint with the Nodal officer of the Bank (either through email or letter)

3.    If you do not receive any reply / satisfactory reply within 10 days from the Nodal officer, lodge your complaint with the Principal Nodal officer of the Bank (either through email or letter)

4.     If you are still not satisfied with the reply / do not receive reply from the Principal Nodal officer within 10 days, lodge your complaint with the Banking Ombudsman (either through letter or email).  For address of the Office of the Banking Ombudsman, Area of Operation (jurisdiction) and the procedure for lodging complaint, you may access the websitehttps://bankingombudsman.rbi.org.in/

RAJA