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Thursday, July 14, 2022

RBI slaps Rs 1.67 crore fine on a Ola Financial in a Services.

RBI slaps Rs 1.67 crore fine on a Ola Financial in a Services.




Mumbai, July 12 (P T I) The Reserve Bank of  the India (RBI) has a imposed a fine of  the Rs 1.67 crore on a Ola Financial in a  Services Pvt Ltd. The Reserve Bank on Tuesday said in the penalty has been a imposed for a non-compliance with a provisions related to the  prepaid payment in a systems and Know to Your Customer (KYC) norms. Ola Financial Services is a subsidiary of the  Ola providing app based cab in a services. It is a  provides personal loans in a addition to two wheeler and four wheeler. The Reserve Bank said in a statement, “Investigation it has been a found that Ola Financial Services is a continuing with a KYC.

Mumbai, July 12 (P T I) The Reserve Bank of  the India (RBI) has a imposed a fine of the  Rs 1.67 crore on a Ola Financial in a Services Pvt Ltd.

The Reserve Bank on a Tuesday said in the penalty has been a imposed for a non-compliance with a provisions related to the prepaid payment in a systems and Know Your Customer (KYC) norms.

Ola Financial Services is a subsidiary of the  Ola providing app based cab in a  services. It is a provides personal loans in a addition to two wheeler and four wheeler.

“The investigation found that Ola Financial Services was a complying with the directions issued on a KYC,” in the Reserve Bank said in a statement.

According to the central bank, a notice was also a issued to the company in this regard asking why it should not be fined for not a ensuring compliance with the directions.

RBI said, “After a considering in the reply of the company, RBI has come to the conclusion that there has been a lapse in a compliance with the directions and it becomes necessary to the impose monetary penalty.”

The central bank said that this action has been a taken for a lapses in a regulatory compliance. It is not a intended to raise questions about the legality of a any transaction of the  Ola Financial Services with it is a customers.

Source: Nav Bharat times. India times.com

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This post is a sourced from a newspapers, magazines and third-party in a  websites. For more information please check a News Day  in a Express Disclaimer.

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