Recorded RBI impact
Monetary penalty
Monetary penalty · Fresh imposition
Published by RBI
20 Nov 2020
Case Brief
The Reserve Bank of India imposed monetary penalties on six entities under Section 30 of the Payment and Settlement Systems Act, 2007 for non-compliance of regulatory guidelines. The text names the entities but does not provide entity-wise grounds, findings, or penalty amounts.
Why RBI Acted
In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India imposed monetary penalties on six entities for non-compliance with regulatory guidelines. The provided text does not include the individual findings, amounts, or entity-wise contraventions.
Operating Impact
The named entities face monetary penalties and must address the underlying compliance lapses identified by RBI. No operational restriction, cancellation, or suspension is stated in the provided text.
Regulatory Basis
- Section 30 of the Payment and Settlement Systems Act, 2007
Action Facts
- Primary Impact
- Monetary penalty
- Entities Affected
- 6
- Entity Role
- Bulk Member
- Entity Type
- Other
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