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.
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.
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.
Published as Company's Name
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