Saraswat Bank — Transaction denied but money deducted

Address:

Belgaum, Karnataka

Dear Sir/Madam I had to pay around 16K to the merchant, so i swiped the card on 13/09/2015 at 7:30Pm but transaction was denied. So i had to arrange another way to pay the amount. But after some time i got the message as my account is being debited by 16k. Will it be reversed??? I have been told that it will be reversed in 48hrs. But haven't got the money yet. Please help.