RBI prepaid policy

1. A SALES PERSPECTIVE ITZ Cash

2. Pre-paid payment instruments are payment instruments that facilitate purchase of goods and services against the value stored on such instruments. The value stored on such instruments represents the value paid for by the holder, by cash, by debit to a bank account, or by credit card.

3. Closed PPI : Used by the Co, issued by the company for buying their goods and services. Encashment is not allowed. Semi closed PPI : Used for the purchased of goods and services at specifically designated/contracted Establishments. Semi open PPI : Used at those outlets which have POS terminals at constructed by the issuing co. Open PPI: Used for online/offline and ATM encashment.

4. PPI TYPE C.PPI SC PPI SOP PPI OP PPI PREPAID PREPAID PREPAID PREPAID PREPAID USAGE SINGLE MERCHANT USAGE MULTIPLE USAGE MULTIPLE USAGE MULTIPLE USAGE USED FOR OWNER PURPOSE HOW TO USE ONLINE ONLINE ONLINE ONLINE OFFLINE OFFLINE OFFLINE OFFLINE SMS SMS SMS SMS POS TERMINAL POS TERMINAL ATM ENCASHMENT NO.ENCASHMENT NO.ENCASHMENT NO.ENCASHMENT ENCASHMENT OWNERSHIP WITH ISSUING WITH ISSUING WITH ISSUING WITH BANK COMPANY(MERCHANT) COMPANY COMPANY HOLDER CARD USER OR HOLDER CARD USER OR HOLDER CARD USER OR HOLDER CARD USER OR HOLDER

5. To educate the Distys & ICWs on this & its conditions before selling the same. To ensure that multiple PPIs of this are not sold to the same person. To advise the Distys & Franchisees to collect identity docs as advised by L & S

6. To instruct all the Distys & ICWs to obtain full KYC docs & enter it in the System from their PC before selling these PPIs. To send all KYC docs to L & S dept

7. To educate the Distys & ICWs on this & its conditions before selling the same.

8. KYC : KNOW YOUR CUSTOMER. AML : ANTI MONEY LAUNDERING. CFT : COMBATING FUNDS FOR TERRORISM STR : SUSPICIOUS TRANSACTION REPORT

9. To educate Distributors/ICWs about KYC requirement & to make arrangement for compliance

10. To ensure that PPIs issued by the Co are not sold outside Indian territories.

11. To educate all the Distys & ICWs to obtain full KYC docs & enter it in the System from their PC before selling these PPIs. To send all KYC docs to L & S dept

12. To have in depth knowledge about customer due diligence(Carefulness) & follow the requirement checklist & to educate Distributors & ICWs about the same.

13. To educate the new team of managers who will sell these as these are B2B PPI. To keep upper limit of Rs. 5000 in mind