Revocation of Certificate of Authorisation of GI Technology Private Limited

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Published on October 20, 2022

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Revocation of Certificate of Authorisation of GI Technology Private Limited

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 Operator (PSO):

Company’s Name	Registered Office Address	CoA No. & Date	Payment System Authorised	Date of Revocation	Reason for Revocation
GI Technology Private Limited	No. C-9, 2nd Floor, Left Wing, Thiru Vika Industrial Estate, Guindy, Chennai - 600032	27/2009 dated October 29, 2009	Issuance and Operation of Prepaid Payment Instruments	October 20, 2022	Governance concerns and non-compliance with regulatory requirements

Following the revocation of the CoA, the company cannot transact the business of issuance and operation of Prepaid Payment Instruments. However, customers or merchants having a valid claim, if any, on the company as PSO, can approach the company for settlement of their claims.

(Yogesh Dayal)
Chief General Manager

Press Release: 2022-2023/1075