RBI imposes monetary penalty on six entities for non-compliance

In a press release issued on 20^th 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

Click here for the official press release:

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