RBI Slaps ₹2.41 Crore Fine on Visa for Unauthorised Payment Method
27 Jul 2024
The Reserve Bank of India (RBI) recently fined Visa ₹2.41 crore (about $288,000) for utilizing an unapproved payment transfer method. The central bank made this information public on Friday, highlighting that Visa had implemented a payment authentication mechanism without first gaining the necessary regulatory approval. The RBI's official statement noted,...
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