Myntra.com — joggers

I had purchased a trackpant from myntra. Myntra people cancelled the order due to some reason after 15 days of waiting and have initiated a refund process. According to the policy they say it will take 7-10 days for the refund to be credited into my account. If i had paid for the item which i had bought immediately then why is these people taking 7-10 days to refund my money? Which bank they are using which takes this much time for the amount to get transferred? If my online bank works for 24 hours and i am paying for the item immediately then why are these people taking so much time for the refund.