Manappuram Finance Limited was fined Rs 17.63 lakh by the Reserve Bank of India (RBI) for failing to comply with Know Your Customer (KYC) and Prepaid Payment Instruments regulations (PPIs).
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KEY POINTS:
RBI found that the aforementioned accusation of non-compliance with its orders was proven and warranted imposition of monetary penalty after reviewing the entity’s answer and giving it a personal hearing.
Important Takeaways:
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