The Mumbai Indians were fined for not being able to bowl the required number of overs in the stipulated time during the match against the Chennai Super Kings in Johannesburg, a media release said.
Despite all allowances been taken into consideration, the Mumbai Indians were assessed to be one over short of the required rate.
Mumbai Indians captain, Harbhajan Singh, received a US$ 1500 fine while each player was fined US$ 750.
If Mumbai repeats this offence during its next game of the tournament, a one-match ban will be imposed on Harbhajan.
The Mumbai Indians lost their match by six runs and will now face the Sydney Sixers in their final group match in Durban on Monday. Mumbai, though, are already out of the competition while Sydney were the first ones through to the semis.