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RBI cancels PPI license of Vodafone M-Pesa
short by Anushka Dixit / on Tuesday, 21 January, 2020
The Reserve Bank of India cancelled digital wallet Vodafone M-Pesa's license after it surrendered its certificate of authorisation in 2019. RBI added that "customers having a valid claim on the company as an operator can approach the company for settlement of their claims within three years" from the cancellation date. M-Pesa shut down operations due to losses and regulatory curbs.
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