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RBI fines MobiKwik ₹9 lakh over PPI transfer and fraud reporting lapses

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RBI fines MobiKwik ₹9 lakh over PPI transfer and fraud reporting lapses
Photo / Coverage: Business Standard - LatestCredit: Ajinkya Kawale
EXECUTIVE SUMMARY

RBI imposed a ₹9 lakh penalty on MobiKwik for breaching PPI transfer limits and failing to report certain frauds within the prescribed timeline following an inspection

Key Takeaways

  • RBI fines MobiKwik ₹9 lakh over PPI transfer and fraud reporting lapses.

RBI imposed a ₹9 lakh penalty on MobiKwik for breaching PPI transfer limits and failing to report certain frauds within the prescribed timeline following an inspection

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