Cancellation of Certificate of Authorisation

Case Brief

The Reserve Bank of India cancelled the Certificate of Authorisation (CoA) of the below-mentioned Payment System Operators under the Payment and Settlement Systems Act, 2007. No specific names or factual grounds are included in the provided text, only the cancellation action itself.

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 below-mentioned Payment System Operators (PSOs). The text provided does not specify the individual entity name(s) or the detailed ground(s) for cancellation.

Severity Assessment

Cancellation of a Certificate of Authorisation is a license cancellation, which carries severity 5 under the rubric.

Impact

The affected payment system operator(s) can no longer operate under the cancelled authorisation. Any payment system activity requiring the CoA must cease, and customers/counterparties may be impacted by the stoppage of services.

Regulatory Basis

Payment and Settlement Systems Act, 2007