{"id":217452,"date":"2019-07-30T11:00:50","date_gmt":"2019-07-30T05:30:50","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=217452"},"modified":"2019-07-30T10:49:41","modified_gmt":"2019-07-30T05:19:41","slug":"rbi-imposes-penalty-on-one-mobikwik-systems-private-limited-and-hip-bar-private-limited","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2019\/07\/30\/rbi-imposes-penalty-on-one-mobikwik-systems-private-limited-and-hip-bar-private-limited\/","title":{"rendered":"RBI imposes penalty on — One Mobikwik Systems Private Limited and Hip Bar Private Limited"},"content":{"rendered":"

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.<\/p>\n\n\n\n\n\n
S. No.<\/strong><\/td>\nName of the PPI Issuer<\/strong><\/td>\nSpeaking Order Dt.<\/strong><\/td>\nPenalty (Lakh)<\/strong><\/td>\n<\/tr>\n
1.<\/td>\nOne Mobikwik Systems (P) Ltd.<\/span><\/td>\n17-05-2019<\/td>\nRs 15.00<\/td>\n<\/tr>\n
2.<\/td>\nHip Bar (P) Ltd.<\/span><\/td>\n24-05-2019<\/td>\nRs 10.85<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
\n

Press Release: 2019-2020\/273<\/strong><\/p>\n

[Press Release dt. 29-07-2019]<\/p>\n

Reserve Bank of India<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has <\/p>\n","protected":false},"author":8808,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8051,2],"tags":[36828,36829,36830,2627,36827],"class_list":["post-217452","post","type-post","status-publish","format-standard","hentry","category-business_news","category-news","tag-hip-bar-private-limited","tag-mobikwik-systems-private-limited","tag-payment-and-settlement-systems-act","tag-Penalty","tag-prepaid-payment-instrument"],"yoast_head":"\nRBI imposes penalty on -- One Mobikwik Systems Private Limited and Hip Bar Private Limited | SCC Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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2023\u2014December 2024 inspection.","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"PhonePe fined","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/PhonePe-fined.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/PhonePe-fined.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/PhonePe-fined.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2025\/09\/PhonePe-fined.webp?resize=700%2C400&ssl=1 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News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/law-firms-news\/"},"img":{"alt_text":"Mobikwik","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/12\/cyril-92.webp?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/12\/cyril-92.webp?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/12\/cyril-92.webp?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2024\/12\/cyril-92.webp?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":223590,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/25\/rbi-introduction-of-a-new-type-of-semi-closed-prepaid-payment-instrument-ppi\/","url_meta":{"origin":217452,"position":3},"title":"RBI | Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI)","author":"Bhumika Indulia","date":"December 25, 2019","format":false,"excerpt":"Introduction of a new type of semi-closed Prepaid Payment Instrument (PPI) \u2013 PPIs upto Rs 10,000 with loading only from bank account To give impetus to small value digital payments and for enhanced user experience, it has been decided to introduce a new type of semi-closed PPI with the following\u2026","rel":"","context":"In "Business News"","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/RBI-3.jpg?resize=525%2C300&ssl=1 1.5x, 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The Amazon Pay has been penalized for non- compliance of the following Master Directions that were issued by RBI: Master Directions on Prepaid Payment\u2026","rel":"","context":"In "Case Briefs"","block_context":{"text":"Case Briefs","link":"https:\/\/www.scconline.com\/blog\/post\/category\/casebriefs\/"},"img":{"alt_text":"RBI","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-498.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-498.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-498.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2023\/02\/MicrosoftTeams-image-498.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":221562,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/10\/30\/rbi-imposes-monetary-penalty-on-bandhan-bank-janata-sahakari-bank-ltd-and-jalgaon-peoples-co-operative-bank-ltd\/","url_meta":{"origin":217452,"position":5},"title":"RBI imposes monetary penalty on Bandhan Bank, Janata Sahakari Bank Ltd. and Jalgaon Peoples Co-operative Bank Ltd.","author":"Bhumika Indulia","date":"October 30, 2019","format":false,"excerpt":"Bandhan Bank Limited he Reserve Bank of India (RBI) has, by an order dated October 29, 2019, imposed a monetary penalty of Rs One crore on Bandhan Bank Limited (the bank) for non-compliance with the guidelines on promoter holding contained in \u2018Guidelines for Licensing of New Banks in Private Sector\u2019\u2026","rel":"","context":"In "Business News"","block_context":{"text":"Business News","link":"https:\/\/www.scconline.com\/blog\/post\/category\/news\/business_news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/217452","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/8808"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=217452"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/217452\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=217452"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=217452"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=217452"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}