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.
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.
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.
Published as Company's Name
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