Supreme Court: Section 17A PC Act Does Not Cover Bribe Demands Unrelated to Official Duty || Supreme Court Directs Centre to Promote Interim Compensation Scheme for Road Accident Victims || Karnataka High Court Upholds Homicide Charge Against Father for Letting Minor Son Drive || Karnataka High Court Grants Bail to Pan Masala Maker in Rs. 42 Crore Cess Evasion Case || Karnataka High Court: Advocates Practising Without Clearing AIBE May Face Criminal Action || Allahabad HC Orders Scrutiny of UP Basic School Teachers’ Educational and Appointment Records || AP HC: Fabricated Sale Agreements and Breach of Property Undertaking Constitute Perjury || Supreme Court: State Cannot Acquire Temple Property Through Gift Deed || Supreme Court: HC Registry Should Exclude Court Vacations When Listing Cases After Fixed Days || Supreme Court Flags Stark Non-Compliance With Directions on CAPF Cadre Review

Expiry of Certificate of Authorization (CoA)- (Reserve Bank of India) (20 Oct 2016)

MANU/RPRL/0259/2016

Banking

Under the Payment and Settlement Systems Act, 2007, The Reserve Bank of India had issued Certificate of Authorization (CoA) to M/s Done Card Utility Ltd and M/s OSS Payment Solutions Pvt. Ltd to operate semi-closed pre-paid payment instruments services. The CoA were valid till October 31, 2013 and December 31, 2013 respectively. On expiry of the COA, these entities can no longer transact the business of semi-closed pre-paid payment instruments services in India under the Payment and Settlement Systems Act, 2007 and contravention, if any, would attract penal action under the said Act.

Tags : EXPIRY CERTIFICATE AUTHORIZATION

Share :