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2020
RBI fines six entities for regulatory non-compliance
Fine or penalty
The Reserve Bank of India imposed monetary penalties totaling over Rs 5.78 crore on six entities for non-compliance with regulatory guidelines. The entities named were Sodexo, PhonePe, QwikCilver Solutions, Punjab National Bank, Muthoot Vehicle & Asset Finance, and Delhi Metro Rail Corporation. The penalties were announced in a news report dated 21 November 2020.
Source excerpt
The Reserve Bank of India (RBI) has imposed a total fine of over Rs 5.78 crore on six entities, including PNB, Sodexo, and PhonePe, for violating regulatory guidelines.
"RBI imposes penalty on Sodexo SVC India Pvt Ltd, Muthoot Vehicle & Asset Finance Ltd, QwikCilver Solutions Pvt Ltd, Phonepe Pvt Ltd, Delhi Metro Rail Corporation Ltd, and Punjab National Bank," said the release.