Didi’s digital payments unit fined by China’s central bank
The Hindu
The unit was fined for violations that included transactions not meeting the requirements for traceability and authenticity, and failure to report significant risk events in a timely manner
Didi's digital payments unit was fined 4.27 million yuan ($632,170) on Friday by China's central bank for a dozen rule violations, amid an effort by the ride-hailing company to appease regulators.
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The unit was fined for violations that included transactions not meeting the requirements for traceability and authenticity, opening payment accounts for enterprises involved in the financial industry, and failure to report significant risk events in a timely manner, the People's Bank of China said in a notice published on its website.
Didi has struggled to bring its business back to normal after angering Chinese regulators by pushing ahead with its $4.4 billion New York listing in June last year despite being asked to put it on hold.
Didi could not immediately be reached for comment outside business hours.
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