RBI imposes INR 1 Cr penalty on MobiKwik and Spice Money

MobiKwik issued monetary penalty affecting Reserve Bank of India on December 23, 2021.

Primary

MobiKwik

Counterparty

Reserve Bank of India

Structure

monetary penalty

Date

December 23, 2021

Sub-sector

Payments

RBI enforcement action for non-compliance with net-worth requirements for Bharat Bill Payment Operating Units.

Primary company

MobiKwik

Counterparty

Reserve Bank of India

Amount

Not disclosed

Event date

December 23, 2021

Sub-sector

Payments

HQ

Not disclosed

Structure

monetary penalty

Source published

December 23, 2021

Publisher

Inc42

Source: inc42.com