In a press release issued on 20th November, 2020, the Reserve Bank of India clarified that it has issued penalty for non-compliance of regulatory guidelines prescribed under Section 30 of the Payment and Settlement Systems Act, 2007.
Name of defaulter entities are mentioned below:
(1) Sodexo SVC India Private Limited
(2) Muthoot Vehicle & Asset Finance Limited
(3) Qwik Cilver Solutions Private Limited
(4) Phonepe Private Limited
(5) Delhi Metro Rail Corporation Limited and
(6) Punjab National Bank