The Reserve Bank of India (RBI) has imposed monetary penalty on five non-bank prepaid payment instrument issuers and an ATM network operator.
These include Sodexo SVC India Private Ltd (which was imposed a fine of ₹2 crore), Muthoot Vehicle & Asset Finance Ltd. (₹34.55 lakh), QwikCilver Solutions Private Ltd. (₹1 crore), Phonepe Private Ltd. (₹1.39 crore), Delhi Metro Rail Corporation Ltd. (₹5 lakh) and ATM network operator Punjab National Bank (₹1 crore) for non-compliance of regulatory guidelines.