RBI imposes monetary penalty on 6 entities for violation of norms

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

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