RBI Slaps ₹3.10 Lakh Penalty on Cashfree Payments India
Moneylife Digital Team 17 March 2026
Reserve Bank of India (RBI) has imposed a penalty of ₹3.10 lakh on Cashfree Payments India Pvt Ltd for non-compliance with certain provisions under its guidelines governing payment aggregators (PAs) and payment gateways (PGs).
 
During a statutory inspection, RBI found that Cashfree Payments had made certain impermissible debits from its escrow account. The regulator held that the charge against Cashfree Payments was sustained, thereby warranting the imposition of a monetary penalty.
 
After reviewing the Cashfree Payments’ written response and oral submissions made during a personal hearing, RBI concluded that the violations of its directions were substantiated and required penal action.
 
RBI says the penalty imposed on Cashfree Payments is based on deficiencies in regulatory compliance and is not intended to pronounce on the validity of any transaction or agreement entered by the banks with their customers.
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