RBI Cancels Authorisation Certificates Of Muthoot Vehicle Finance, Eko India

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RBI has cancelled the authorisation certificates of two payment system operators

Mumbai:

Reserve Bank of India (RBI) has cancelled the authorisation certificates of Muthoot Vehicle and Asset Finance Limited and Eko India Financial Services Private Limited for non-compliance with regulatory requirements.

Both the payment system operators (PSOs) had the authorisation for issuance and operation of prepaid payment instruments.

“Following the cancellation of the Certificate of Authorisation (CoA), these companies cannot transact the business of issuance and operation of prepaid payment instruments,” RBI said.