Added interest amount on delayed Refunds by service companies.
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Government of India recently launched many initiatives to encourage cashless transactions, online payments. While this is good, it gives more power to certain bodies like banks, online payment gateways, service providing websites. This is because most of the flow of money happens through these hands. Many a times, payments are failed, transactions are cancelled. In many of these cases, aforementioned parties are responsible for failure. The consumer's money is taken away from him/her until the refund is made. This badly affects people with less money. Also, in many cases, the refund is made only after multiple requests, tiresome phonecalls, lot of despair. For these losses beared by the consumer, as well as the profits made by above bodies with the extra money, it is only genuine that an extra compensation/interest be paid to the consumer by the responsible party.
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