PAYMENT AND SETTLEMENT SYSTEMS

Payment and settlement systems play an important role in improving overall economic efficiency. They consist of all the diverse arrangements that we use to systematically transfer money-currency, paper instruments such as cheques, and various electronic channels.


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Date : Jun 11, 2019
Reserve Bank of India imposes monetary penalty on ZipCash Card Services Pvt. Ltd. and Yes Bank 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
(in ₹ lakh)
1. ZipCash Card Services Pvt. Ltd. 22-04-2019 11.25
2. Yes Bank Limited 22-04-2019 11.25

Yogesh Dayal
Chief General Manager

Press Release: 2018-2019/2913


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