Supreme Court: Promotion Remains Valid Even if an Employee's Grade Pay Stays Unchanged || SC Orders Bihar Government to Remove Ganga Riverbank Encroachments in Patna Within Six Weeks || Bombay HC: Child of Single Mother Can’t be Denied RTE Quota over Deceased Father's Caste Certificate || J&K&L HC: Complaint Dismissed Before Cognisance is Not an Acquittal & is Challengeable U/S 528 BNSS || Delhi HC Acquits Man in 2006 Rape Case, Says Names Like Ram or Mohammad do Not Define Virtue || Gujarat HC: Whatsapp Forward of Fake Newspaper Clipping Not Forgery Absent Proof of Fabrication || Supreme Court tells Parsvnath Developers to Comply with Haryana RERA Orders or Face Jail || Supreme Court: Article 142 Cannot Override a Concluded and Acted-Upon Settlement Between Parties || SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage || SC Grants One-Time Relief, Allows Law Students to Take Exams Despite Attendance Shortage

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 :