The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company.
Following the cancellation of the COA, the above company cannot transact the business of pre-paid card issuance. However, customers or merchants having a valid claim, if any, on M/s Tech Mahindra Limited, Noida as a PSO, can approach the company for settlement of their respective claims within two years from the date of this cancellation i.e. upto 27.08.2020.
Anirudha D. Jadhav Assistant Manager
Press Release : 2018-2019/483
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