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On 22.02.2022, the Reserve Bank of India (RBI) has asked the public to be cautious while dealing with unauthorised prepaid payment instruments. It has asked the customers to verify the application or website beforehand whether or not that agency is authorised to carry out the services it is claiming.
sRide Tech Private limited a company having its registered office at 1201, Tower-7, Close North, Nirvana Sector-50, Gurgaon, Haryana “ is using a semi-closed wallet for its car-pooling app without the required authorisation from the RBI under the provisions of Payment and Settlement System Act,2007. So therefore, if any individual deals with this application will be doing so at their own risk.
RBI cautions the public against PPIs issued by unauthorised entities
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