News > RBI imposes penalty of ₹13.90 lakhs on Mynd Solutions

RBI imposes penalty of ₹13.90 lakhs on Mynd Solutions

The central bank has imposed a penalty of ₹13,90,000 on Mynd Solutions Private Limited. The central bank observed that non-promoter shareholding in the entity had exceeded the ceiling of 10 per cent prescribed for TReDS operators. The penalty has been imposed in the exercise of powers vested in RBI under Section 30 of the Payment and Settlement Systems Act, 2007 (PSS Act).