SC: Courts Must Curb Unlicensed Money Lenders; Probes Need Not Wait For New Law || SC: Gratuity May be Withheld While Criminal or Disciplinary Proceedings are Pending Against Employee || SC: Weapon Recovery Useless Without Proof Linking it to Crime under Section 27 Evidence Act || SC: Fines Also Run Concurrently When Sentences For Multiple Offences Run Concurrently || SC Dissolves 10-Year Estranged Marriage, Quashes 80+ Cases in 'Matrimonial Mahabharata' Dispute || SC: Board Resolution Signature Alone Doesn’t Prove Director’s Knowledge of Company Affairs || Raj HC: Industrial Tribunal Allowing Workman Legal Representation But Denying Employer is Unequal || Karnataka HC: Service Bonds Enforceable on Students With Subsidised Education, Not Bonded Labour || Gauhati HC: Challenge to Marks Barred by Constructive Res Judicata When Party Accepts Limited Remand || SC: Cheque Dishonour Complaint Can't be Quashed Pre-Trial if Sec 138 NI Act Conditions Met

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 :