Indian Overseas Bank — Failure to refund money for failed transaction

Address:

534112

I hold an account at iob nallajerlla branch. I tried to purchase electric product at store with swiping machine using my iob debit card for rs.3600/- on 15 mar 2017 narration details (Ap 013049-vid[protected]x5005). Merchant said that transaction got failed with showing his daily statement. Based on that, i gave a written complaint to the bank on 18 th march 2017. Bank staff requested me to wait for few days your amount will be refunded. I still haven't got a refund. I visited my branch again to know the status they are not even sure how long it ll take to resolve this. I even asked them if there is a timeline for them to close the issue, but they said there is no such thing. But i am very sure there is and also isn't the bank supposed to pay a penalty if they exceed their timeline to resolve a matter. Its been so long and i have no clue whom to report about the branch.