Case Brief
What Happened
The Reserve Bank of India imposed a monetary penalty on Cashfree Payments India Private Limited by order dated March 09, 2026. The penalty was levied after a statutory inspection for the period April 2024 to June 2025 and a subsequent show-cause process. RBI found non-compliance with certain directions issued under the Guidelines on Regulation of Payment Aggregators and Payment Gateways, and sustained the specific charge relating to impermissible debits from the escrow account. The penalty was imposed under section 30(1) read with section 26(6) of the Payment and Settlement Systems Act, 2007.