After much waiting and patience the fraudulent transactions have been reversed by RBL (probably by Master card)
The following is timeline of events
1. Fraud Transactions happened on credit card
2. Called RBL customer care to block the card and reverse transactions.
3. They blocked the card but transactions weren't reversed asked to get FIR
4. Went to Hyderabad and got the FIR sent copy to RBL
5. RBL said investigation may take 2 months (saying it is because of Master card) and asked me to pay minimum balance to avoid charges
6. Refused to pay for fraudulent transactions and submitted complaint to Reserve Bank of India as I have complained within 3 days of transactions which means liability is with the bank
7. Got interim credit from RBL until investigation concludes so withdrew Reserve Bank of India complaint
8. Followed up with RBL twice to eventually get the confirmation (from
[email protected]) that dispute is closed in my favour without any other details.
I wish RBL trusted it's customer and saved him/her some heart-ache and anxious moments rather than me going to Police and RBI and wasting my time for RBL to follow the guidelines laid by Reserve Bank of India.
I have lost confidence on RBL and want to close my credit card which now seems like a herculean task as their Customer care numbers are not reachable and they don't acknowledge my credit card closure request. I may have to knock the doors of RBI again to end this once and for all