Recorded RBI impact
Fine: Rs 3.10 L
Monetary penalty · Fresh imposition
Published by RBI
16 Mar 2026
Case Brief
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.
Why RBI Acted
RBI imposed a monetary penalty under section 30(1) read with section 26(6) of the Payment and Settlement Systems Act, 2007 after a statutory inspection covering April 2024 to June 2025. Following supervisory findings and show-cause proceedings, RBI concluded that Cashfree Payments India Private Limited had not complied with certain RBI directions on the regulation of payment aggregators and payment gateways, including impermissible debits from the escrow account.
Operating Impact
Cashfree Payments India Private Limited must absorb the monetary penalty and remain compliant with RBI’s payment aggregator/payment gateway directions. The order does not, on its face, impose an operating restriction or affect customer transactions, but it signals supervisory non-compliance and leaves open the possibility of further RBI action.
Regulatory Basis
- section 30(1) read with section 26(6) of the Payment and Settlement Systems Act, 2007
Action Facts
- Primary Impact
- Fine: Rs 3.10 L
- Order Date
- 9 Mar 2026
- Effective From
- 9 Mar 2026
- Entities Affected
- 1
- Entity Role
- Primary
- Entity Type
- Payment entity