{"id":4195,"date":"2019-07-31T08:28:54","date_gmt":"2019-07-31T08:28:54","guid":{"rendered":"https:\/\/www.gkseries.com\/blog\/?p=4195"},"modified":"2019-07-31T08:37:45","modified_gmt":"2019-07-31T08:37:45","slug":"rbi-slapped-a-fine-of-rs-25-lakh-on-mobikwik-and-hip-bar","status":"publish","type":"post","link":"https:\/\/www.gkseries.com\/blog\/rbi-slapped-a-fine-of-rs-25-lakh-on-mobikwik-and-hip-bar\/","title":{"rendered":"RBI slapped a fine of Rs 25 lakh on Mobikwik and Hip Bar"},"content":{"rendered":"\n<p>The Reserve Bank has slapped a fine of Rs 25 lakh on two online payment solutions providers Mobikwik Systems and Hip Bar.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.gkseries.com\/blog\/current-affairs-quiz-2019-daily-gk\/\" target=\"_blank\" rel=\"noreferrer noopener\">Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\n<p>Mobikwik Systems Private Limited has been slapped a fine of Rs 15 lakh while Hip Bar Pvt Ltd faced a fine of Rs 10.85 lakh, according to an RBI release.<\/p>\n\n\n\n<p>These two prepaid payment instrument (PPI) issuers have been\nlevied monetary penalty for non-compliance of regulatory guidelines, the\nrelease said.<\/p>\n\n\n\n<p><strong>About MobiKwik :<\/strong><br>MobiKwik is an Indian company founded in 2009 that provides\na mobile phone based payment system and digital wallet. Customers add money to\nan online wallet that can be used for payments.<br><strong>CEO:<\/strong> Bipin Preet\nSingh (1 Aug 2009\u2013)<br><strong>Headquarters\nlocation:<\/strong> Gurugram<br><strong>Founders:<\/strong> Bipin\nPreet Singh, Upasana Taku<br><strong>Type of business:<\/strong>\nPrivately held company<\/p>\n\n\n\n<p><strong>About HipBar :<\/strong><br>HipBar is a mobile wallet and India\u2019s first digital currency\nexclusively meant for transacting adult beverages. The HipBar ecosystem serves\nas an age-verified platform, and a responsible marketplace.<\/p>\n\n\n\n<p>HipBar is founded by Chennai-based entrepreneur Prasanna\nNatarajan. He previously founded Sipping Spirits, India&#8217;s first boutique spirit\nbottling company in 2007, quietly carving a niche in the Indian alco-bev space.<\/p>\n\n\n\n<p>HipBar aims to position itself as the go-to platform for\nconsumers and adult beverage brands to connect in India.<\/p>\n\n\n\n<p>Launched about four months ago in Bengaluru, the app has\nreceived quite an encouraging response. In Bengaluru, HipBar has tied-up with\n60 brands and over 50 restaurants.<\/p>\n\n\n\n<p><strong>About Reserve bank of India :<\/strong><br>The Reserve Bank of India is India&#8217;s central banking institution which controls the issuance and supply of the Indian rupee. The Monetary Policy Committee established in 2016, it also controlled monetary policy in India.<br><strong>Headquarters<\/strong>: Mumbai<br><strong>Governor<\/strong>: Shaktikanta Das<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Reserve Bank has slapped a fine of Rs 25 lakh on two online payment solutions providers Mobikwik Systems and Hip Bar. Daily Current Affairs Quiz 2019 Mobikwik Systems Private Limited has been slapped a fine of Rs 15 lakh while Hip Bar Pvt Ltd faced a fine of Rs 10.85 lakh, according to an [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":4196,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[300,299,64],"class_list":["post-4195","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-hip-bar","tag-mobikwik","tag-reserve-bank-of-india-current-affairs"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4195","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=4195"}],"version-history":[{"count":3,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4195\/revisions"}],"predecessor-version":[{"id":4207,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/4195\/revisions\/4207"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/4196"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=4195"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=4195"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=4195"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}