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RBI fines Mobikwik & Hip Bar for violating norms

RBI fines Mobikwik & Hip Bar for violating norms_50.1

The Reserve Bank of India has imposed a penalty on two online payment solutions providers Mobikwik Systems and Hip Bar for non compliance of regulatory guidelines.

Mobikwik Systems Private Limited has been slapped a fine of Rs 15 lakh while Hip Bar Pvt Ltd faced a fine of Rs 10.85 lakh.

Static/Current Takeaways Important For SBI Clerk Mains:

  • Governor of RBI: Shaktikant Das; Headquarters: Mumbai; Founded: 1 April 1935, Kolkata.

Source: The Economic Times

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