RBI imposes Rs 1.67 crores penalty on Ola Financial Services
The Reserve Bank on Tuesday imposed a penalty of over Rs 1.67 crore on Ola Financial Services for non-compliance with certain provisions related to pre-paid payment instruments and Know Your Customer norms.
"After considering the entity's response, RBI concluded that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty," the RBI said. Pic;Reuters