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RBI imposes Rs 5 lakh fine on Oxigen Services
PrintThe Reserve Bank yesterday said that it has imposed a fine of Rs 5 lakh on prepaid payment instrument Oxigen Services.
The RBI said in a release that the move was taken in exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, for non-compliance of regulatory guidelines.
The fine comes through a speaking order dated September 17, 2019.Oxigen Services facilitates payment processing and money transfer services.#casansaar(Source- Newsonair)
The RBI said in a release that the move was taken in exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, for non-compliance of regulatory guidelines.
The fine comes through a speaking order dated September 17, 2019.Oxigen Services facilitates payment processing and money transfer services.#casansaar(Source- Newsonair)
Category : RBI | Comments : 0 | Hits : 442
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