The Reserve Bank of India has fined Amazon Pay Private Limited Rs30.7 million for ceasing to function to pursue approaches for prepaid expenditure devices and Know Your Customer restrictions.
The RBI expressed in an announcement that the effort was seized due to an absence of regulatory obedience and was not meant to challenge the lawfulness of any pacts or marketings the company had with its customers.
An Amazon spokeswoman expressed that the company was always devoted to pursuing lawful provisions and upholding obedience. The spokeswoman declared, “We begin again to labor closely with the administrations to convey our obligation with them.”
