RBI circular dated 10th January 2020 follows, for laying down framework for imposing monetary penalty on authorised payment system operators/ banks under the Payment and Settlement Systems Act, 2007.
Some of violations are compoundable offences so procedure for dealing with that also mentioned in this circular.
https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=11785&Mode=0
Some of violations are compoundable offences so procedure for dealing with that also mentioned in this circular.
https://www.rbi.org.in/scripts/NotificationUser.aspx?Id=11785&Mode=0
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