The Reserve Financial institution of India on Thursday stated it has imposed a penalty of Rs 29.79 lakh on Unimoni Monetary Companies Restricted because it was non-compliant with norms on small-PPI necessities.
The penalty, RBI stated, has been imposed for non-compliance with sure instruction contained within the grasp route on issuance and operation of Pay as you go Fee Devices (PPI).
“It was noticed that the entity was non-compliant with the instructions issued by RBI on small-PPI necessities,” the central financial institution stated.
See Zee Enterprise Reside TV Streaming Beneath:
A show-cause discover was issued to Unimoni Monetary Companies. The penalty was imposed after contemplating the corporate’s response.
The central financial institution, nevertheless, added the penalty is predicated on deficiencies in regulatory compliance and isn’t meant to pronounce upon the validity of any transaction or settlement entered into by the corporate with its prospects.
Get Newest Enterprise Information, Inventory Market Updates and Movies; Verify your tax outgo by Revenue Tax Calculator and lower your expenses by our Private Finance protection. Verify Enterprise Breaking Information Reside on Zee Enterprise Twitter and Fb. Subscribe on YouTube.
