Press Releases

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Date : Nov 20, 2020
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
(₹ 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

Press Release: 2020-2021/672


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