Western Union Financial Services Inc. Current Affairs, GK & News

RBI fines Paytm Payments Bank and Western Union

Reserve Bank of India (RBI) has imposed monetary penalty on two payment system operators viz., Paytm Payments Bank Ltd (PBBL) as well as Western Union Financial Services Inc. Key Points RBI levied a penalty of Rs 1 crore on PBBL. Penalty was imposed because of an offence related to Payment and Settlement Systems Act, 2007 ..

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RBI imposes fines on PPIs for violating Regulatory Guidelines

Reserve Bank of India (RBI) imposed a monetary penalty on five Pre-Paid Payment Instrument (PPI) issuers which include Vodafone’s m-pesa and Phonepe, for violating its regulatory guidelines under provisions of Payment and Settlement Systems Act, 2007. Other facing Penalty includes, Western Union Financial Services Inc., MoneyGram Payment Systems Inc, (both are US firms) for for compounding ..

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