RBI slaps penalties worth crores on Tata Communications Payment, Appnit Technologies
Zee News
The Reserve Bank has imposed penalties on Tata Communications Payment Solutions Limited (TCPSL) and Appnit Technologies Private Limited (ATPL) for deficiencies in regulatory compliance.
New Delhi: The Reserve Bank has imposed penalties on Tata Communications Payment Solutions Limited (TCPSL) and Appnit Technologies Private Limited (ATPL) for deficiencies in regulatory compliance.
A penalty of Rs 2 crore has been imposed on TCPSL and Rs 54.93 lakh on ATPL, the central bank said in a statement on Wednesday.
"It was observed that TCPSL was non-compliant with the directions issued by RBI on White Label ATM deployment targets and net-worth requirement. ATPL was non-compliant with the directions issued by RBI on maintenance of escrow account balance and net-worth requirement," it said.
