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