Cancellation of Certificate of Authorisation

Case Brief

The Reserve Bank of India cancelled the Certificate of Authorisation (CoA) of the named Payment System Operator under the Payment and Settlement Systems Act, 2007. The release does not specify any further conduct, monetary penalty, or remedial timeline; it only records the cancellation action.

Action Snapshot

Primary Impact: License cancellation
Entity Type: Payment entity
Action Type: License cancellation
Order Date

Unknown date

Effective From

Unknown date

Entities Affected

1

Why RBI Acted

Licensing breach

The Reserve Bank of India, exercising powers under the Payment and Settlement Systems Act, 2007, cancelled the Certificate of Authorisation (CoA) of the mentioned Payment System Operator (PSO). The release does not state additional facts beyond the cancellation itself.

Severity Assessment

Cancellation of a Certificate of Authorisation is a licence cancellation, which carries severity 5.

Impact

The Payment System Operator can no longer operate under the cancelled CoA. This affects the entity’s ability to provide payment system services and may disrupt counterparties and customers relying on its authorisation.

Regulatory Basis

Payment and Settlement Systems Act, 2007

Affected Entities

Company's Name
Published as Company's Name
Payment entity · Primary