India, Sept. 24 -- The Reserve Bank of India (RBI) has levied a monetary penalty of Rs 3.10 lakh on Ola Financial Services Private Limited for failing to comply with certain regulatory requirements under its Know Your Customer (KYC) directions.
The penalty was imposed through an order dated September 24, 2026, under Section 30(1) read with Section 26(6) of the Payment and Settlement Systems Act, 2007.
RBI's statutory inspection covered the company's operations between January 2025 and November 2025. Following the inspection, the central bank issued a notice to Ola Financial Services after identifying instances of non-compliance with its KYC-related directions.
After reviewing the company's response, subsequent submissions and representat...