RBI slaps Rs 26 lakh fine on Mobikwik, Hip Bar for violating norms


PTI, Jul 30, 2019, 10:21 AM IST

Mumbai: The Reserve Bank has imposed a total penalty of around Rs 26 lakh on two online payment solutions providers One Mobikwik Systems and Hip Bar.

One Mobikwik Systems Private Limited has been slapped a fine of Rs 15 lakh while Hip Bar Pvt Ltd faced a fine of Rs 10.85 lakh, according to an RBI release.

These two prepaid payment instrument (PPI) issuers have been levied monetary penalty for non-compliance of regulatory guidelines, the release said.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Bengaluru Police arrest man for murder of Assamese woman

World chess championship: Gukesh & Liren draw fourth game

Mangaluru’s Pilikula Nisargadham to get a facelift, says Minister Boseraju

Konkan Railway needs major replacements to ensure traffic safety, Railway Minister tells LS

Rift in Karnataka BJP: Renukacharya faction wants party to expel Yatnal

Tough decisions have to be taken, need to learn from poll results: Kharge at CWC meet

MSRTC bus overturns in Gondia district; 9 passengers killed, 25 injured

Related Articles More

Sensex rebounds 759 pts, Nifty ends above 24,100 on gains in Airtel, RIL

Sensex, Nifty rebound after deep plunge to settle nearly 1 pc higher

Sensex, Nifty bounce back after sharp correction in previous trade

CCI orders probe against Google, affiliates for ‘unfair’ business practices in gaming apps’ listing on Play Store

Nine Adani Group firms trade higher; Adani Total soars nearly 19 pc

MUST WATCH

Grafting

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing


Latest Additions

Bengaluru Police arrest man for murder of Assamese woman

World chess championship: Gukesh & Liren draw fourth game

Mangaluru’s Pilikula Nisargadham to get a facelift, says Minister Boseraju

Konkan Railway needs major replacements to ensure traffic safety, Railway Minister tells LS

Rift in Karnataka BJP: Renukacharya faction wants party to expel Yatnal

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.