- The Reserve Bank announced on Monday that it has fined many financial institutions, including Vakrangee, Rs 1.76 crore, for breaking numerous rules.
- Vakrangee Ltd. has been fined Rs 1,76,00,000 by the Reserve Bank of India (RBI) for failing to follow certain of the White Label ATM (WLA) guidelines, the central bank announced in a press statement.
- The RBI stated that these measures are based on regulatory compliance problems and are not meant to question the legality of any transaction or agreement made by the businesses with their clients.
