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RBI imposes penalty on six financial firms and banks

by BQ News Bureau
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Reserve Bank of India has imposed monetary penalty on Sodexo SVC India Private Limited (Rs.200 lakhs), Muthoot Vehicle and Asset Finance Limited (Rs34.55 lakhs), Qwik Cilver Solutions Private Limited (Rs.100 lakhs), Phonepe Private Limited (Rs.139 lakhs), Delhi Metro Rail Corporation Limited (Rs.5 lakhs) and Punjab National Bank (Rs.100 lakhs).

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 entities for non-compliance of regulatory guidelines.

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