 "RBI, Reserve Bank of India")
The Reserve Bank of India (RBI) on Friday imposed monetary penalties on five payment system operators for non-complying with certain provisions of the central bank.
A penalty of Rs 3 crore was levied on Transaction Analysts (India) Pvt Ltd. The RBI said on-site inspection of Transaction Analysts (India) revealed non-compliance with directions issued by the RBI on escrow account balances, limits prescribed for certain transactions, and KYC.
Further, penalties ranging from Rs 1-2 crore have been imposed on four white label ATM operators for non-complying with provisions of the RBI guidelines relating to white label ATMs in India.
BTI Payments and Hitachi Payment
