RBI cancelled CoA of Vodafone m-pesa after the voluntary surrender of the authorisation
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RBI cancelled the certificate of authorisation of Vodafone's m-pesa, a PSO & said the company had voluntarily surrendered the authorisation. Vodafone m-pesa was one of the 11 firms that got a licence from RBI in 2015. After this cancellation, the firm cannot transact the business of issuance & operation of prepaid payment instruments. But, customers having a valid claim can approach the company for settlement within 3 years.