Reserve Bank of India imposes monetary penalty on ZipCash Card Services Pvt. Ltd. and Yes Bank Limited

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Published on June 11, 2019

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Reserve Bank of India imposes monetary penalty on ZipCash Card Services Pvt. Ltd. and Yes Bank 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 (in ₹ lakh)
1.	ZipCash Card Services Pvt. Ltd.	22-04-2019	11.25
2.	Yes Bank Limited	22-04-2019	11.25