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) issuer for non-compliance of regulatory guidelines. | Sr.No. | Name of the PPI Issuer | Speaking Order dated | Amount of Penalty
(₹ lakh) | | 1. | Balancehero India Private Limited | 19-09-2019 | 12.88 | (Yogesh Dayal)
Chief General Manager Press Release : 2019-2020/909 | |