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.

Press Release

(283 kb)

Date : Oct 10, 2019

Reserve Bank of India imposes monetary penalty on Balancehero India 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) issuer for non-compliance of regulatory guidelines.