RBI slaps penalties worth crores on Tata Communications Payment, Appnit Technologies
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The Reserve Bank has imposed penalties on Tata Communications Payment Solutions Limited (TCPSL) and Appnit Technologies Private Limited (ATPL) for deficiencies in regulatory compliance. A penalty of Rs 2 crore has been imposed on TCPSL and Rs 54.93 lakh on ATPL, the central bank said in a statement on Wednesday. The RBI had issued notice to these two authorised Payment System Operators (PSOs).