Reserve Bank of India imposes monetary penalty on (1) Sodexo SVC India Private Limited, (2) Muthoot Vehicle & Asset Finance Limited, (3) QwikCilver Solutions Private Limited, (4) Phonepe Private Limited, (5) Delhi Metro Rail Corporation Limited and (6) Punjab National Bank
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 entities for non-compliance of regulatory guidelines.
| Sr. No. | Name of the Entity | Speaking Order dated | Amount of Penalty (Rs lakh) |
| Non-bank Prepaid Payment Instrument Issuers | |||
| 1. | Sodexo SVC India Private Limited | 03-08-2020 | 200.00 |
| 2. | Muthoot Vehicle & Asset Finance Ltd. | 12-08-2020 | 34.55 |
| 3. | QwikCilver Solutions Private Limited | 15-10-2020 | 100.00 |
| 4. | Phonepe Private Limited | 04-11-2020 | 139.00 |
| 5. | Delhi Metro Rail Corporation Limited | 13-11-2020 | 5.00 |
| ATM Network Operator | |||
| 6. | Punjab National Bank | 13-11-2020 | 100.00 |
(Yogesh Dayal)
Chief General Manager
CAclubindia
