1. Home >
  2. Export Import News >
  3. Economy News >
  4. RBI imposes Rs 5 lakh fine on Oxigen Services

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

RBI imposes Rs 5 lakh fine on Oxigen Services

Date: 08-11-2019
Subject: RBI imposes Rs 5 lakh fine on Oxigen Services
The Reserve Bank on Thursday said it has imposed a fine of Rs 5 lakh on prepaid payment instrument Oxigen Services.

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 of Rs 5 lakh on the Prepaid Payment Instrument (PPI) issuer Oxigen Services (India) Private Limited for non-compliance of regulatory guidelines, the Reserve Bank of India (RBI) said in a release.

However, it did not mention the exact area in which the company failed to comply with its guidelines.

The fine comes through a speaking order dated September 17, 2019.

Oxigen Services facilitates payment processing and money transfer services.

Source: moneycontrol.com

Infodrive India Pvt Ltd

Delhi :
  F-19, Pocket F, Okhla Phase-I
      Okhla Industrial Area

      New Delhi- 110020
   011 - 40703001

Kolkata :
  5th Floor Stesalit Towers,
      E-2-3, EP & GP Block,

      Sector-V, Salt Lake City,
      Kolkata-700 091
   033 - 71177191

INFODRIVE INDIA Copyright © 1996-2020 InfodriveIndia. All Rights Reserved.
Please read our Terms of Use and Privacy Policy before you use.

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help