RBI imposes penalty of Rs 1.67 Crore on Ola Financial Services over non-compliance of KYC norms
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The Reserve Bank on Tuesday imposed a penalty of over Rs 1.67 crore on Ola Financial Services for non-compliance with certain provisions related to pre-paid payment instruments and Know Your Customer norms. Ola Financial Services Private Limited, a subsidiary of ride-hailing app Ola, offers financial services such as lending for two-wheelers, four-wheelers, personal loans and insurance products.