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  • Thursday, October, 2019| Today's Market | Current Time: 10:17:58
  • RBI slaps Rs 26 lakh fine on Mobikwik and Hip Bar

    Published on July 30, 2019

    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.

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