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Searched Tag: prepaid payment instruments ppis

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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