Case Brief
The Reserve Bank of India revoked the Certificate of Authorisation (CoA) of UAE Exchange Centre LLC under Section 8 of the Payment and Settlement Systems Act, 2007. The release identifies the entity as a Payment System Operator but does not provide any additional factual explanation for the revocation or any monetary penalty. As a result, the action is best classified as a licence cancellation affecting the entity's ability to operate as a PSO.
Action Snapshot
- Primary Impact
- License cancellation
- Entity Type
- Payment entity
- Action Type
- License cancellation
- Order Date