RBI imposes penalty on — One Mobikwik Systems Private Limited and Hip Bar Private Limited

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

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