RBI imposes penalty on Mynd Solutions over non-compliance of guidelines

New Delhi [India], December 29 (ANI): The Reserve Bank of India (RBI) has imposed a monetary penalty of Rs 1,390,000 on Mynd Solutions Private Limited (the entity) for not complying with the Guidelines on Trade Receivables Discounting System (TReDS).

The penalty has been imposed under Section 30 of the Payment and Settlement Systems Act, 2007 (PSS Act).

"This action is based on deficiencies in regulatory compliance and is