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.
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.
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.
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