The Reserve Bank of India (RBI) has cancelled the certificate of authorisation (COA) of Tech Mahindra to issue pre-paid cards after the voluntary surrender of authorisation by the company. The certificate of authorisation was issued in November 2013, to the company.
However, customers or merchants having a valid claim, if any, on Tech Mahindra, Noida as a PSO, can approach the company for settlement of their respective claims within two years from the date of this cancellation (up to August 27, 2020).
Tech Mahindra is a leading provider of solutions and services to the telecommunications industry with a majority stake owned by Mahindra & Mahindra. The company, since 2002 has operations in China with offices in Beijing, Shanghai, Nanjing and Guangzhou.
