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Date: 04/05/2017
Cancellation of Certificate of Authorisation - M/s Beam Money Private Limited

The Reserve Bank of India, in exercise of the powers conferred on it under Payment and Settlement Systems Act, 2007, has cancelled the Certificate of Authorisation (COA) of the following Payment System Operator (PSO) on account of voluntary surrender of authorisation by the company.

Company's Name Registered Office address COA No. & Date Payment system authorized Date of cancellation
Beam Money Private Limited, New Delhi
(formerly authorised as Suvidha Starnet Private Limited)
Enterprise, D 128 -129, Okhla Industrial Area, Phase – I, (402 Terrace Floor), New Delhi – 110020 44/2011
Pre-paid card Issuance 4.5.2017

Following the cancellation of the COA, the above company cannot transact the business of pre-paid card issuance. However, customers or merchants having a valid claim, if any, on M/s Beam Money Private Limited as a PSO, can approach the company for settlement of their respective claims within two years from the date of this cancellation i.e. upto 3.5.2019.

Ajit Prasad
Assistant Adviser

Press Release : 2016-2017/2981

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