Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹3 crore on Transaction Analysts (India) Pvt. Ltd. for contravention/non-compliance with provisions of the RBI Master Direction on Issuance and Operation of PPIs in India and the Master Direction on KYC. The release also notes that monetary penalties were imposed on four White Label ATM operators for non-compliance with the White Label ATMs in India – Guidelines dated June 20, 2012.
Action Snapshot
- Primary Impact
- Fine: Rs 3.00 Cr
- Entity Type
- Payment entity
- Action Type
- Monetary penalty
- Order Date