Case Brief
The Reserve Bank of India has revoked the Certificate of Authorisation (CoA) of GI Technology Private Limited, which is identified as a Payment System Operator, under Section 8 of the Payment and Settlement Systems Act, 2007. The release provided does not include the underlying reason or any specific violation, but the action itself is a licence cancellation and therefore a severe regulatory measure.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Payment entity
- Action Type
- License cancellation
- Order Date