GI Technology Private Limited

RBI revoked the Certificate of Authorisation of GI Technology Private Limited. This is a licence-cancellation action against a payment system operator.

GI Technology Private Limited can no longer operate under the revoked CoA. Any payment system activities previously carried out under this authorisation must cease, subject to any separate legal or transition instructions not mentioned in the release.

• Section 8 of the Payment and Settlement Systems Act, 2007

RBI imposed monetary penalties on five PPI issuers for non-compliance with regulatory guidelines. The penalties were issued under Section 30 of the Payment and Settlement Systems Act, 2007.

Each of the five PPI issuers must absorb the financial penalty and address the compliance deficiencies that led to RBI action. The penalty does not itself state an operational restriction, but it signals regulatory non-compliance and may affect supervisory scrutiny going forward.

• Section 30 of the Payment and Settlement Systems Act, 2007

This RBI action affected 5 entities. This profile is linked as bulk member.