The Reserve Bank of India (RBI) has cancelled the Certificate of Authorisation (CoA) of two Payment System Operators (PSOs). They are Muthoot Vehicle & Asset Finance, and Eko India Financial Services.

The authorisation was cancelled for non-compliance with regulatory requirements. 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," the RBI said in a circular.