The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1.67 crore on Ola Financial Services Private Limited for non-compliance with certain provisions related to pre-paid payment instruments and Know Your Customer norms. The penalty has been imposed in the exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
A notice was issued to the entity advising it to show cause as to why a penalty should not be imposed for non-compliance with the directions. Ola Financial Services Private Limited, a subsidiary of ride-hailing app Ola, offers financial services such as lending for two-wheelers, four-wheelers, personal loans and insurance products.
Lucknow, which serves as the capital of Uttar Pradesh, is popularly considered as the "City…
The Ministry of Statistics and Programme Implementation (MoSPI) has introduced the India's first trial version…
In the ongoing fiscal year, India’s tax revenues have performed significantly, with the net direct…
The FIFA World Cup 2026 semifinal clashes are starting and this stage creates excitement from…
National News Bharat Tex 2026 Showcases India’s Global Textile Industry Ambitions India will host Bharat…
The central government set to strengthen the local self-government in Ladakh has received positive response…