The Reserve Bank of India (RBI) directed Gurugram-based company TalkCharge to refund the prepaid funds held in the wallets of its customers.

Banking & Finance

The Reserve Bank of India (RBI) directed Gurugram-based company TalkCharge to refund the prepaid funds held in the wallets of its customers. This directive comes as TalkCharge has been issuing Prepaid Payment Instruments (Wallets) without proper authorisation from the central bank. TalkCharge offers services such as cashbacks, coupons, and wallets to customers. The central bank had issued directions on April 2, 2024, to the entity to stop the issuance and operation of its Prepaid Payment Instruments or Wallets and refund the balances held in the wallets within 15 days. Later, it was extended by 45 days (May 17, 2024) at the entity's request.


     

     

     

 

     


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