{
  "id": 19806196,
  "title": "Reserve Bank of India imposes monetary penalty on One Mobikwik Systems Limited",
  "url": "https://urgent.news/2026/11/13/reserve-bank-of-india-imposes-monetary-penalty-on-one-mobikwik",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-13T12:46:51.000Z",
  "source": {
    "name": "Reserve Bank of India",
    "slug": "reserve-bank-of-india",
    "url": "https://www.rbi.org.in/scripts/BS_PressReleaseDisplay.aspx?prid=63973"
  },
  "original_language": "en",
  "account": "On November 06, 2026, the Reserve Bank of India (RBI) issued a penalty of ₹9.00 lakh (Nine Lakh only) to One Mobikwik Systems Limited for failing to comply with RBI's regulations regarding Prepaid Payment Instruments (PPIs) and fraud reporting. This penalty was enforced under the Payment and Settlement Systems Act, 2007, section 30(1) and section 26(6). The RBI conducted a statutory inspection of the company's operations from June 2025 to March 2026 and found non-compliance with RBI's directions. A notice was issued to the company to explain its failure to comply, after which the company submitted additional information and made oral submissions during a personal hearing. Based on the findings, the RBI confirmed the following charges against the company: allowing fund transfers to non-pre-registered beneficiaries beyond the prescribed limit and failing to report certain frauds within the required timeframe. These charges warranted the imposition of the monetary penalty, which is intended to address regulatory compliance deficiencies, not to question the validity of transactions or agreements with customers. The RBI's action does not preclude any other potential actions that may be taken against the company in the future.",
  "summary": "Reserve Bank of India (RBI) has, by an order dated November 06, 2026, imposed a monetary penalty of ₹9.00 lakh (Rupees Nine Lakh only) on One Mobikwik Systems Limited (the company) for non-compliance with certain provisions of the directions issued by RBI on ‘Prepaid Payment lnstruments (PPIs)’ and ‘Fraud reporting’. This penalty has been imposed in exercise of powers conferred on RBI under the…",
  "key_points": [
    "Reserve Bank of India imposed ₹9.00 lakh penalty on One Mobikwik Systems Limited.",
    "Company failed to comply with RBI regulations on Prepaid Payment Instruments and fraud reporting.",
    "RBI found non-compliance during statutory inspection from June 2025 to March 2026."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}