TalkCharge moves Delhi High Court against RBI order to stop operations

TalkCharge, a digital payments platform, moved the Delhi High Court challenging an RBI order to stop its operations. The RBI had directed the company to cease operations due to non-compliance with regulatory requirements. TalkCharge argued that the order was arbitrary and sought interim relief to continue its business. The court issued a notice to the RBI and scheduled a hearing to address the company’s grievances. This case underscores the regulatory challenges faced by fintech companies and the judiciary’s role in adjudicating disputes between regulatory authorities and businesses.