₹1 crore fine each imposed by RBI on One Mobikwik Systems, Spice Money

RBI has imposed monetary penalty on two payment system operators, One Mobikwik Systems Private Limited and Spice Money Limited, for violation of norms. They've been fined ₹1 crore each. "These actions are based on deficiencies in regulatory compliance and are not intended to pronounce upon...validity of any transaction or agreement entered into by the entities with...customers," said RBI.