India, April 26 -- The Reserve Bank of India (RBI) has once again directed payments platform TalkCharge Technologies to cease operation and issuance of its prepaid payment instruments (PPIs) 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. The platform has been directed to refund the balances in these customer wallets by May 17.

However, in a clarification issued on Thursday (April 25), the RBI said that the fintech platform had issued a legal notice to its customers and demanded repayment of the cashback amount.

The legal notice also purportedly warn...