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RBI imposes monetary penalty on ZipCash Card Services & Yes Bank

Jun 11, 2019: 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




Source: RBI

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