Coming April, you will not be given refund for the balance left in the DMRC Smart card
Only security deposit will be given after deducting the processing fees of Rs 20, i.e. only Rs 30 will be returned, irrespective of the amount in the smart card.
As per DMRC the move has been taken to comply with the Reserve Bank of India(RBI) guidelines, which states, under subhead 7, Prepaid Payment Instruments for Mass Transit System, “A new category of semi-closed Prepaid Payment Instruments (PPI) is being introduced. No cash-out or refund will be permitted from these PPIs.”
“All the existing cards and cards sold on or after 1st April will become non-refundable. However, customers have time to get back refunds on their cards between March 1 and March 31, which has been declared as the sunset period, before the RBI guidelines come into place on April 1.” as quoted by the DMRC spokesperson.
This effectively means that tomorrow is the last date to get the refunds for the smart cards, failing so DMRC would forfeit the amount in the card. Do also keep in mind that DMRC allows a discount of 10% on every travel made using the smart card.