[Resolved]  IDBI Bank — money debited from account for imps but not credited to beneficiary

Address: Mumbai City, Maharashtra, 400005

Website: www.idbi.com

I am a savings account holder of IDBI (customer ID[protected] and I transferred money from my account in the morning on 21st Feb 2018 to my account in HDFC bank through IMPS.

Since IMPS is supposed to be instant transfer but the money was not deposited in the beneficiary account by 4:15 PM, I called IDBI customer service.

I was told that it will take upto two days for the money to be credited to the beneficiary account 'due to technical problem'.
I told them that if transfer can't happen then they should cancel the transaction and deposit the amount back in my account.
The customer care told me that they can't do that.
They also can't take down the complaint for two days for a technical problem.

I transferred the amount thinking it is instantaneous and because I needed to use the money in the beneficiary account. And now, not just that it is not in my HDFC account, it is also gone from my IDBI account!
My issues are as follows -
1. IMPS is supposed to be instant transfer. If it is not going through, the bank should credit it back into my savings account.
2. They refused to even take down my complaint - for IMPS the complaint should be taken down right away and dealt with on priority
3. Bank should now give me compensation because the money that I wanted to use to make some payments is not available to me at this point!