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Reserve Bank of India imposes monetary penalty on One Mobikwik Systems Private Limited and Hip Bar Private Limited

In exercise of powers vested under Section 30 of the Payment and Settlement Systems Act, 2007, the Reserve Bank of India has imposed monetary penalty on the following Prepaid Payment Instrument (PPI) issuers for non-compliance of regulatory guidelines.

Sr. No. Name of the PPI Issuer Speaking Order dated Amount of Penalty
(₹ lakh)
1. One Mobikwik Systems Private Limited 17-05-2019 15.00
2. Hip Bar Private Limited 24-05-2019 10.85

Yogesh Dayal
Chief General Manager

Press Release: 2019-2020/273

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