A. There is no penalty from Niyo Money if you fail to pay for your SIP

B. If you have an auto-debit setup, and if you have not chosen to skip/stop your SIP beforehand - If in case there is insufficient balance in your bank account when the bank tries to debit the amount for SIP investment, there is a chance that the bank may impose some penalty. 

This is not done by all banks, but some may impose a penalty (the amount may differ from bank to bank, but can be around Rs. 200).