Cancelled transaction after bill generation

[Chiraag17]

I purchased a product for 60k last week. The bill amounting to 70k (60k purchase + other 10k purchases) got generated yesterday but I had to cancel the 60k transaction post bill generation for some reason. I wanted to know if I need to pay the entire 70k before the due date or will the cancelled transaction get credited back resulting in me just paying 10k (70k bill amount minus 60k cancellation)?

Thank you.

 

[Slayer]

I purchased a product for 60k last week. The bill amounting to 70k (60k purchase + other 10k purchases) got generated yesterday but I had to cancel the 60k transaction post bill generation for some reason. I wanted to know if I need to pay the entire 70k before the due date or will the cancelled transaction get credited back resulting in me just paying 10k (70k bill amount minus 60k cancellation)?

Thank you.

You have to pay the billed amount even if you will eventually get an refund as refunded amount is not considered as a form of bill payment

 

[Infinite]

I purchased a product for 60k last week. The bill amounting to 70k (60k purchase + other 10k purchases) got generated yesterday but I had to cancel the 60k transaction post bill generation for some reason. I wanted to know if I need to pay the entire 70k before the due date or will the cancelled transaction get credited back resulting in me just paying 10k (70k bill amount minus 60k cancellation)?

Thank you.

Which bank?

I have a written confirmation from HDFC that only balance amount need to be paid - 10k in this case.

In case of SBI, financial charges were levied (in June - prior to the new RBI directive) but they were reversed later on request.

So please check the bank as the amount is significant.

 

[Chiraag17]

Which bank?

I have a written confirmation from HDFC that only balance amount need to be paid - 10k in this case.

In case of SBI, financial charges were levied (in June - prior to the new RBI directive) but they were reversed later on request.

So please check the bank as the amount is significant.

RBL Bank

 

[srichaitanya]

I purchased a product for 60k last week. The bill amounting to 70k (60k purchase + other 10k purchases) got generated yesterday but I had to cancel the 60k transaction post bill generation for some reason. I wanted to know if I need to pay the entire 70k before the due date or will the cancelled transaction get credited back resulting in me just paying 10k (70k bill amount minus 60k cancellation)?

Thank you.

You can pay the full bill 70k and get 60k as credit balance refund to bank account after bill payment.

 

[TheTrickySid]

I purchased a product for 60k last week. The bill amounting to 70k (60k purchase + other 10k purchases) got generated yesterday but I had to cancel the 60k transaction post bill generation for some reason. I wanted to know if I need to pay the entire 70k before the due date or will the cancelled transaction get credited back resulting in me just paying 10k (70k bill amount minus 60k cancellation)?

Thank you.

According to new RBI guidelines you are liable to pay only 10k, and the refund of 60k has to be considered as repayment.

 

[Slayer]

According to new RBI guidelines you are liable to pay only 10k, and the refund of 60k has to be considered as repayment.

That is from october right?

 

[TheTrickySid]

That is from october right?

Not for this rule

 

[ltf4ever]

i completely disregard the credit card statement and just ensure that the total outstanding is 0 before due date. never faced any late payment issue using this method in all my years of holding a credit card. don't know about rbl though, rbl is capable of doing random things.