RBI Revokes Authorisation Certificate of Chennai-Based GI Technology : Due to issues with the company’s governance, the Reserve Bank has revoked the certificate of authorization of Chennai-based GI Technology Private Limited. The company is in business of issuance and operation of prepaid payment instruments.

• Governance concerns and non-compliance with regulatory requirements” are the reasons for revocation of Certificate of Authorisation (CoA), the central bank said in a statement.
• GI Technology cannot transact the business of issuing and operating prepaid payment instruments following the cancellation of the CoA.