India, April 23 -- The Reserve Bank of India (RBI) has, by an order dated April 17, 2026, imposed a monetary penalty of Rs. 80,000/- (Rupees Eighty Thousand only) on Ebix Payment Services Private Limited (the company), for non-compliance with certain directions issued by RBI on 'Know Your Customer'. This penalty has been imposed in exercise of powers conferred on RBI under Section 30(1) read with Section 26(6) of the Payment and Settlement Systems Act, 2007.The statutory inspection of the company was conducted by RBI for the reference period June 2024 to May 2025. Based on supervisory findings of non-compliance with RBI directions and related correspondence in that regard, a notice was issued to the company advising it to show cause as to w...