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Date : Nov 01, 2021
Cancellation of Certificate of Authorisation

The Reserve Bank of India, in exercise of the powers conferred on it under the Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (CoA) of the below mentioned Payment System Operators (PSOs):

1. Issuance of Prepaid Payment Instruments

Sr. No. Company's Name Registered Office Address CoA No. & Date Date of Cancellation Reason for Cancellation
1. DigitSecure India Private Limited Plot No: 1303 and 1304, 4th Floor, Khanamet, Hitech City, Ayappa Society, Madhapur, Hyderabad - 500 081 50/2012 dated 23.07.2012 30.09.2020 Voluntary Surrender
2. Kedia Infotech Limited 518, 5th Floor, Swapnalok Complex, S D Road, Secunderabad - 500 003 85/2015 dated 29.07.2015 30.09.2020 Voluntary Surrender
3. Oxigen Services (India) Private Limited 2nd Floor, Building 77 B, Shaheed Ripon Katyal Marg, Sector 18, Gurugram – 122 015 31/2010 dated 18.01.2010 31.12.2020 Voluntary Surrender

Following the cancellation of the CoA, these companies cannot transact the business of issuance and operation of Prepaid Payment Instruments. However, customers or merchants having a valid claim, if any, on these companies as PSOs, can approach them for settlement of their claims within three years from the date of cancellation.

2. Setting up, owning and operating White Label ATMs

Sr. No. Company's Name Registered Office Address CoA No. & Date Date of Cancellation Reason for Cancellation
1. Muthoot Finance Limited 2nd Floor, Muthoot Chambers, Banerji Road, Kochi – 682 018 64/2014 dated 30.01.2014 30.09.2020 Voluntary Surrender

Following the cancellation of the CoA, the company cannot transact the business of setting up, owning and operating White Label ATMs.

(Yogesh Dayal)     
Chief General Manager

Press Release: 2021-2022/1129


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