Case Brief
The Reserve Bank of India imposed a monetary penalty of ₹3,06,66,000 on Amazon Pay (India) Private Limited. RBI said the company had not complied with certain provisions of the Master Directions on Prepaid Payment Instruments and the Master Direction on KYC, and that the non-compliance was substantiated after a show-cause process under Section 30 of the Payment and Settlement Systems Act, 2007.
Action Snapshot
- Primary Impact
- Fine: Rs 3.07 Cr
- Entity Type
- Payment entity
- Action Type
- Monetary penalty
- Order Date