RBI penalizes One Mobikwik for PPI and fraud reporting violations
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On November 13, 2026, the Reserve Bank of India (RBI) announced a penalty of ₹9.00 lakh against One Mobikwik Systems Limited. The RBI said the company had violated regulations concerning prepaid payment instruments (PPIs) and fraud reporting: it allowed some PPI holders to transfer funds to beneficiaries who had not been pre-registered, and failed to report certain fraud incidents within the prescribed timeframe. The related inspection covered the company’s operations from June 2025 to March 2026.
AI-written from reports · updated 2 hours ago
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- Reserve Bank of India — Press releasesReserve Bank of India imposes a ₹9.00 lakh fine on One Mobikwik Systems Limited
Reserve Bank of India imposed a ₹9.00 lakh fine on One Mobikwik Systems Limited for violating regulations related to prepaid payment instruments (PPIs) and fraud reporting. The violations included allowing some PPI holders to transfer funds to beneficiaries who had not been pre-registered, and failing to report some fraud incidents within the prescribed timeframe. The inspection covered the company’s operations from June 2025 to March 2026.
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