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The Reserve Bank of India, in train of the powers conferred on it below Section 8 of the Payment and Settlement Systems Act, 2007, has revoked the Certificate of Authorisation (CoA) of the beneath talked about Payment System Operator (PSO):
Following the revocation of the CoA, the corporate can’t transact the business of issuance and operation of Prepaid Payment Instruments. However, prospects or retailers having a sound declare, if any, on the corporate as PSO, can method the corporate for settlement of their claims. (Yogesh Dayal) Press Release: 2022-2023/1075 |
