Supreme Court: Banks Cannot Effectively Blacklist Lawyers by Placing Them on Caution Lists || Madras HC: Advocates Can't Seek Out-of-Turn Case Listing Through Writ Petitions || J&K&L HC: Vehicle Can't Remain in Police Custody During NDPS Trial over Possible Confiscation || J&K&L HC: Prolonged Stagnation in Small Cadres Does Not Grant Right to Promotion || Delhi HC Rejects Bail Plea of Athar Khan in Alleged Delhi Riots Conspiracy || Delhi HC Full Bench: School Employee's Suspension Ends if DOE Approval Isn't Given in 15 Days || Allahabad HC: Mere Note of Failed Conciliation Not Sufficient for Lok Adalat Proceedings || Delhi HC: Govt Created 'Utter Chaos' in OBC Reservation Rules Through Conflicting Notifications || Calcutta HC: Acceptance of Rent After Quit Notice Doesn't Waive Tenancy Termination || Delhi HC Flags EFI Selection Criteria Breach in Asian Games Dressage Team, Declines to Interfere

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 :