India, May 15 -- The Reserve Bank of India (RBI) has, by an order dated May 11, 2026, imposed a monetary penalty of Rs. 5.80 lakh (Rupees Five Lakh Eighty Thousand only) on Appnit Technologies Private Limited (the company) for non-compliance with certain directions issued by RBI on 'Know Your Customer (KYC)' and 'Prepaid Payment Instruments (PPI)'. This penalty has been imposed in exercise of powers conferred on RBI under the provisions of section 30(1) read with section 26(6) of the Payment and Settlement Systems Act, 2007.The Statutory Inspection for the company was conducted by RBI with reference to its operations for the period from April 2024 to August 2025. Based on supervisory findings of non-compliance with the provisions of RBI dir...