India, Sept. 24 -- The Reserve Bank of India (RBI) has, by an order dated September 24, 2026, imposed a monetary penalty of Rs. 3.10 lakh (Rupees Three lakh ten thousand only) on Ola Financial Services Private Limited (the company) for non-compliance with certain directions issued by RBI on 'Know Your Customer (KYC)'. 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 of the company was conducted by RBI with reference to its operations for the period from January 2025 to November 2025. Based on the supervisory findings of non-compliance with the provisions of RBI directions and related corr...