In a move that underscores tightening regulatory oversight in India’s fast-evolving digital payments ecosystem, the Reserve Bank of India (RBI) has imposed a monetary penalty on Cashfree Payments for non-compliance with payment aggregator (PA) guidelines. The action signals the central bank’s continued push to enforce discipline and accountability among fintech players handling online transactions.
Regulatory Breach and Penalty Details
According to official communication from the RBI, Cashfree was found to have violated certain provisions outlined under the “Guidelines on Regulation of Payment Aggregators and Payment Gateways,” which were introduced to bring transparency, security, and sta
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