ICICI CC to bank refund

[thebonginvestor]

ICICI Amazon Pay CC transferred some amount marked as "refund XXX" to my savings bank account and considered it as a debit. In the last year, I have never transferred any funds from my ICICI savings account to my ICICI credit account. Customer Care says this was done as per RBI rules but is unable to provide any details. Please guide.

 

[NAB]

You recently canceled any order/purchase?
All the refund will come directly to the savings account now if you have same bank CC + account.

 

[Aniket]

All the refund will come directly to the savings account now if you have same bank CC + account.

Not in all cases, it should come when bill is already paid and then received the refund or cancelled the product later.

But ICICI is initiating refund even before generation of bill.

Customer Care says this was done as per RBI rules but is unable to provide any details.

Which RBI rules states this?

If it's given like this, rotator will just rotate by cancelling the product. Many even did few days ago, when it became viral.

 

[thebonginvestor]

You recently canceled any order/purchase?
All the refund will come directly to the savings account now if you have same bank CC + account.

I prefer to receive the refund in the original payment method. How?

 

[thebonginvestor]

Not in all cases, it should come when bill is already paid and then received the refund or cancelled the product later.

But ICICI is initiating refund even before generation of bill.


Which RBI rules states this?

If it's given like this, rotator will just rotate by cancelling the product. Many even did few days ago, when it became viral.

I prefer to receive the refund in the original payment method. How?
How can they consider this as a debit transaction on my CC bill?

 

[NAB]

I prefer to receive the refund in the original payment method. How?

Wait, ICICI will soon revert these changes, otherwise, it's like a lottery for the people 😀