Mobikwik IMPS Refund Delay- Compensation Received After RBI Complaint

[shutzz]

I am sharing this so others know the proper process if IMPS transfer fails.

On 30 October 2025, I did a ₹10,000 IMPS transfer from Mobikwik Wallet to bank(considered as IMPS transaction). The transaction failed and the money was finally reversed on 3 November 2025. As per RBI’s “Harmonisation of TAT and compensation” guidelines, if an IMPS reversal is delayed beyond T+1 day, the customer is entitled to ₹100 per day compensation.

I raised two tickets with Mobikwik and even contacted customer care, but they clearly told me on call that there is no compensation rule, which is incorrect. I then emailed the Mobikwik Nodal Officer, but the reply again ignored the compensation point.

So on 12 November, I filed a formal complaint on the RBI CMS portal with full details, transaction screenshots, and the RBI circular reference.

Within a days, on 13 November, Mobikwik credited ₹200 as compensation into my wallet.

 

[rajarancho]

Did you actually received RBIO reply within 1 day ?
BCOS it's been 8 months and now they are still asking my response.

 

[shutzz]

Did you actually received RBIO reply within 1 day ?
BCOS it's been 8 months and now they are still asking my response.

No, i haven't received RBIO's reply. Just the statutory compensation.

 

[rajarancho]

That's what I felt. RBIO takes months to just notify the entity. How come mbk acted so fast ?

 

[shutzz]

That's what I felt. RBIO takes months to just notify the entity. How come mbk acted so fast ?

No that's not the case with me, i have raised several complaints to RBIO and mostly i got calls and e-mails from related institutions within 2-3 weeks.