RBI imposes penalty on One Mobikwik Systems, Spice Money
The Reserve Bank of India (RBI) on Thursday said it has imposed a penalty of Rs 1 crore each on payment system operators One Mobikwik Systems Private Ltd and Spice Money Ltd for deficiencies in regulatory compliance.
As these were offences of the nature referred to in a Section of the Payment and Settlement Systems Act, 2007, notices were issued to the entities. Pic: Reuters