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Cancellation of Certificate of Authorisation: RBI

10-Oct-2019 Posted by: Admin

The Reserve Bank of India, in exercise of the powers conferred on it under the Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (CoA) of the below mentioned Payment System Operator (PSO):

Company's Name Registered Office Address CoA No. & Date Payment System Authorised Date of Cancellation
Y-Cash Software Solutions Private Limited VGR Essor,
3rd Floor, No 1140,
17th Cross,
7th Sector,
H.S.R. Layout,
Bengaluru 560 102 Karnataka
48/2012 dated
Issuance and Operation of Prepaid Payment Instruments 30.09.2019

Following the cancellation of the CoA, the company cannot transact the business of issuance and operation of Prepaid Payment Instruments. However, customers or merchants having a valid claim, if any, on the company as PSO, can approach the company for settlement of their claims within three years from the date of cancellation.

(Yogesh Dayal)     
Chief General Manager

Press Release : 2019-2020/904

Source: RBI