PAYMENT AND SETTLEMENT SYSTEMS

Payment and settlement systems play an important role in improving overall economic efficiency. They consist of all the diverse arrangements that we use to systematically transfer money-currency, paper instruments such as cheques, and various electronic channels.


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Date : Mar 10, 2021
Revocation of Certificate of Authorisation

The Reserve Bank of India, in exercise of the powers conferred on it under Section 8 of the Payment and Settlement Systems Act, 2007, has revoked the Certificate of Authorisation (CoA) of the below mentioned Payment System Operators (PSOs):

Sr. No. Company’s Name Registered Office Address CoA No. & Date Payment System Authorised Date of Revocation Reason for Revocation
1. RiddiSiddhi Bullions Limited Bullion House, 115, TambaKatta, Opp. Dagina Bazar, Pydhonie, Mumbai – 400 003 71/2014 dated May 15, 2014 Setting up, owning and operating White Label ATMs 04.03.2021 Non-compliance with regulatory requirements
2. AGS Transact Technologies Limited 601-602, B-Wing, Trade World, Kamala City, Senapati Bapat Marg, Lower Parel (W), Mumbai – 400 013 73/2014 dated June 30, 2014 Setting up, owning and operating White Label ATMs 04.03.2021 Non-compliance with regulatory requirements

(Yogesh Dayal)     
Chief General Manager

Press Release: 2020-2021/1226


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