Press Releases

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Date : Jul 29, 2019

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