Question
Recently RBI fined Rs 1.67 crore on which of the
financial company for not complying with its directions on prepaid payment instruments?Solution
The Reserve Bank of India (RBI) fined Ola Financial Services Rs 1.67 crore for not complying with its directions on prepaid payment instruments. The company is a unit of the ride-hailing platform, Ola. Ola Financial Services was found to be non-compliant with the directions issued by RBI on Know Your Customer (KYC) requirements. Muthoot Finance Founded- 1939 Headquarters - Kochi, Kerala, India Chairman - M. G. George Muthoot Mannapuram Finance CEO - V.P. Nandakumar Ola chief financial officer - G.R. Arun Kumar Axis Bank CEO - Amitabh Chaudhry
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