Cancellation of Certificate of Authorisation

Case Brief

The Reserve Bank of India has cancelled the Certificate of Authorisation (CoA) of the named Payment System Operator under the Payment and Settlement Systems Act, 2007. The release does not provide any further details on the underlying conduct or breach leading to the cancellation.

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 exercised its powers under the Payment and Settlement Systems Act, 2007 to cancel the Certificate of Authorisation (CoA) of the mentioned Payment System Operator (PSO). No additional factual reason for the cancellation is stated in the release text provided.

Severity Assessment

Cancellation of a Certificate of Authorisation is a full operating status action and is severity 5.

Impact

The Payment System Operator can no longer operate under the cancelled authorisation. This affects the company directly and may disrupt any payment-system services it was providing, pending any separate legal or regulatory remedy.

Regulatory Basis

Payment and Settlement Systems Act, 2007

Affected Entities

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