Reserve Bank of India (RBI) has imposed monetary penalties on two payment system operators, One Mobikwik Systems Private Limited and Spice Money Limited, for violation of norms. Both the payment companies have been slapped with a fine of Rs 1 crore, as per the order issued by the central bank. In a statement, the RBI said it has imposed the penalty on the two payment system operators for “committing offences of the nature referred to in Section 26 (6) of the Payment and Settlement Systems Act, 2007 (PSSAct).”
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
The public sector banks of India have achieved their strongest financial performance ever and reported…
To strengthen the India's shipping and trade ecosystem by launching the $1.5 billion Bharat Maritime…
Prateek Yadav the younger son of the late Samajwadi Party founder Mulayam Singh Yadav passed…
Honorable Chief Justice of India Surya Kant announced the formation of powerful committee to improve…
Former Mohun Bagan president Swapan Sadhan Bose, popularly known as “Tutu Bose”, passed away at…
N. Rangasamy has taken the oath as Chief Minister of Puducherry and this marks his…