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RBI penalizes Ebix Payment Services and two banks for regulatory noncompliance
Economy
Published on 24 April 2026
RBI flags compliance lapses at fintech and co-op banks
The Reserve Bank of India has imposed penalties on Ebix Payment Services, along with Dr Babasaheb Ambedkar Nagari Sahakari Bank and Hardoi Jilla Sahkari Bank. The action follows regulatory non-compliance identified by the central bank, highlighting tighter scrutiny of adherence to RBI rules across payment and cooperative banking entities.
- RBI penalized Ebix Payment Services for regulatory lapses
- Two cooperative banks were also hit with RBI action
- The penalties stem from non-compliance with regulatory requirements
- The move signals continued RBI monitoring of financial operators
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times