Western Union Financial Services Inc

RBI imposed monetary penalties on Paytm Payments Bank Limited and Western Union Financial Services Inc. The action was taken for reporting/licensing-related non-compliance under the PSS Act and MTSS Directions.

Both entities must absorb the regulatory censure and ensure future compliance with the PSS Act and applicable RBI directions. The penalties do not invalidate customer transactions, but they signal heightened supervisory scrutiny over authorisation-related disclosures and MTSS remittance limits.

• Section 26 (2) of Payment and Settlement Systems Act, 2007
• Section 30 of the PSS Act
• Section 31 of the PSS Act

This RBI action affected 2 entities. This profile is linked as bulk member.

RBI imposed monetary penalties on Western Union Financial Services Inc. and MoneyGram Payment Systems Inc. for non-compliance with regulatory guidelines.

Western Union Financial Services Inc. and MoneyGram Payment Systems Inc. are required to bear the respective monetary penalties imposed by RBI. The action is punitive and does not indicate a broader operating restriction beyond the fine itself.

• Section 31 of the Payment and Settlement Systems Act, 2007

This RBI action affected 2 entities. This profile is linked as primary.