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India’s central financial institution has slapped Amazon Pay’s India unit with a fantastic of over $373,300 for non-compliance with native tips surrounding know your buyer and pay as you go fee devices norms.

The Reserve Bank of India said in a statement (PDF) that Amazon Pay (India) was non-compliant with sure provisions of the rules on prepaid payment instruments (required by an organization to function as a digital pockets) and know your customer issued by the central financial institution on KYC necessities, however didn’t elaborate exactly which guidelines have been violated.

“Accordingly, notice was issued to the entity advising it to show cause as to why penalty should not be imposed for non-compliance with the directions. After considering the entity’s response, RBI concluded that the aforesaid charge of non-compliance with RBI directions was substantiated and warranted imposition of monetary penalty,” it mentioned in a press release.

The fantastic comes at a time when the Indian central financial institution is toughening its compliance requirements for fintech and Big Tech companies within the nation because it cracks down on cash laundering and predatory enterprise practices.

India is a key marketplace for Amazon, which has deployed over $7 billion within the nation over the previous decade. The e-commerce big didn’t instantly reply to a request for remark.