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 five PPI Issuers for non-compliance of regulatory guidelines. | Sr. No. | Name of the PPI Issuer | Speaking Order dated | Amount of Penalty
(in ₹ lakh) | | 1. | My Mobile Payments Limited | 22-10-2018 | 100 | | 2. | Phonepe Private Limited | 14-02-2019 | 100 | | 3. | Y-Cash Software Solutions Private Limited | 22-02-2019 | 5 | | 4. | Vodafone m-pesa Limited | 06-03-2019 | 305 | | 5. | GI Technology Private Limited | 26-03-2019 | 100 | Shailaja Singh
Deputy General Manager Press Release : 2018-2019/2593 | |