Halt Wallet Issuance, Refund Balances: RBI to TalkCharge

The Reserve Bank of India has once again directed payments platform TalkCharge Technologies to cease operation and issuance of its prepaid payment instruments and refund the remaining amount lying in these wallets to customers. Earlier this month, the central bank cracked down on the company for offering PPIs on its website and app without obtaining the requisite certificate of authorisation.