payment and settlement systems act 2007

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    RBI Slaps Penalty on Cashfree for Non-Compliance

    Mumbai, March 16 The Reserve Bank on Monday imposed a penalty of Rs 3.1 lakh on the payment aggregator Cashfree Payments India Private Ltd for non-compliance with its directions.The RBI found that Cashfree made certain "unauthorized deductions" from an escrow account, according to an official...
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