RBI imposes a monetary penalty on three payment system operators.

Banking & Finance

The Reserve Bank of India (RBI) has imposed monetary penalties on three payment system operators. This action follows the operators' failure to comply with certain regulatory guidelines and operational standards set by the RBI. The penalties reflect the RBI's commitment to ensuring adherence to regulatory norms and maintaining the integrity of the financial system. The RBI's decision underscores its efforts to uphold accountability and enforce compliance within the payment systems sector. The affected operators will need to address the issues identified to avoid further penalties and ensure smoother operations in the future.


      The Reserve Bank of India has imposed penalties on three payment system operators, namely Visa Worldwide,, Ola Financial Services, and Manappuram Finance, for the companies failure to adhere to regulatory compliance.

     

     

 

     


About RBI,

CEO : Shaktikanta Das
Headquarter : Mumbai
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