RBI slaps Rs 26 lakh fine on Mobikwik and Hip Bar
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The Reserve Bank has imposed a fine of about 26 lakh rupees on two online payment solutions providers for non-compliance of regulatory guidelines.
The central bank said in a release that Mobikwik Systems Private Limited has been slapped a fine of 15 lakh rupees while Hip Bar Pvt Ltd faced a fine of 10.85 lakh rupees.
It stated that these two prepaid payment instrument (PPI) issuers were levied a monetary penalty for non-compliance of regulatory guidelines. #casansaar (Source - NewsOnAir)
The central bank said in a release that Mobikwik Systems Private Limited has been slapped a fine of 15 lakh rupees while Hip Bar Pvt Ltd faced a fine of 10.85 lakh rupees.
It stated that these two prepaid payment instrument (PPI) issuers were levied a monetary penalty for non-compliance of regulatory guidelines. #casansaar (Source - NewsOnAir)
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