RBI imposes monetary penalty on 6 entities for violation of norms

Print Posted Date : 21-Nov-2020 , 09:24:46 am | Posted By CASANSAAR

Listen to this Article

0:00

In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following entities for non-compliance of regulatory guidelines.

Sr. No.	Name of the Entity	Speaking Order dated	Amount of Penalty (₹ lakh)
Non-bank Prepaid Payment Instrument Issuers
1.	Sodexo SVC India Private Limited	03-08-2020	200.00
2.	Muthoot Vehicle & Asset Finance Ltd.	12-08-2020	34.55
3.	QwikCilver Solutions Private Limited	15-10-2020	100.00
4.	Phonepe Private Limited	04-11-2020	139.00
5.	Delhi Metro Rail Corporation Limited	13-11-2020	5.00
ATM Network Operator
6.	Punjab National Bank	13-11-2020	100.00