Vodafone m-pesa Limited

RBI cancelled the Certificate of Authorisation of Vodafone m-pesa Limited, Mumbai. The cancellation was on account of the company’s voluntary surrender of authorisation.

The company’s payment system authorisation stands cancelled, so it can no longer operate as a Payment System Operator under that authorisation. The immediate effect is on the entity itself; the text does not specify additional obligations or a remedial deadline for customers or counterparties.

• 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.