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
(₹ lakh) | | 1. | One Mobikwik Systems Private Limited | 17-05-2019 | 15.00 | | 2. | Hip Bar Private Limited | 24-05-2019 | 10.85 | Yogesh Dayal
Chief General Manager Press Release: 2019-2020/273 | |