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The RBI said the penalty is not intended to pronounce upon the validity of any transaction or agreement entered into by the company with its customers

RBI slaps ₹21 lakh penalty on PhonePe for flouting regulations

September 13, 2025, 12:29 PM - 2 min read

Non-compliance with certain norms related to 'Prepaid Payment Instruments' (PPIs) has earned PhonePe a hefty fine of ₹21 lakh

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