In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed a monetary penalty on the following Prepaid Payment Instrument (PPI) issuers for non-compliance of regulatory guidelines.
|S. No.||Name of the PPI Issuer||Speaking Order Dt.||Penalty (Lakh)|
|1.||One Mobikwik Systems (P) Ltd.||17-05-2019||Rs 15.00|
|2.||Hip Bar (P) Ltd.||24-05-2019||Rs 10.85|
Press Release: 2019-2020/273
[Press Release dt. 29-07-2019]
Reserve Bank of India