RBI imposes penalty on Mobikwik over non-compliance of regulatory norms

Reserve Bank of India has imposed a monetary penalty of Rs 15 lakh on digital payments company Mobikwik. According to the banking regulator’s press release, it has levied the fine on Gurugram-based digital wallet company for non-compliance of regulatory guidelines.

Besides, RBI has also imposed a similar charge on Chennai-based non-govt company Hip Bar. The details of non-compliance couldn’t be ascertained. (Source)

 

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