meta_id 2971000

On March 16, 2026, the Reserve Bank of India (RBI) announced the imposition of a monetary penalty of ₹3.10 lakh (Indian Rupees Three Lakh Ten Thousand) on Cashfree Payments India Private Limited for non-compliance with RBI directions on the Guidelines on Regulation of Payment Aggregators (PAs) and Payment Gateways (PGs). The penalty was imposed by RBI order dated March 9, 2026, under section 30(1) read with section 26(6) of the Payment and Settlement Systems Act, 2007. The RBI conducted a statutory inspection of Cashfree Payments covering the period from April 2024 to June 2025. Supervisory findings identified non-compliance with RBI directions, prompting the RBI to issue a show cause notice to the company. Following consideration of the company's response and additional submissions, the RBI determined that charges against Cashfree Payments for making impermissible debits from the escrow account were sustained, warranting the penalty. The RBI noted that this action addresses deficiencies in statutory and regulatory compliance and does not pronounce upon the validity of any transaction or agreement entered into by the company with its customers. The RBI reserves the right to initiate further action against Cashfree Payments as necessary. This enforcement action reflects the RBI's ongoing supervision of payment service providers operating in India and their adherence to regulatory requirements governing payment aggregators and gateways. **Reference:** Reserve Bank of India Press Release 2025-2026/2270 (March 16, 2026)