RBI guidelines for clients, affiliates and users
The RBI released the “Issuance and Operation of Pre-Paid Payment Instruments in India (Reserve Bank) Direction 2009” on April 27, 2009. These rules have become operative from July 27, 2009.
Accordingly, the Customers and Affiliates are required to comply with the following:
- Customers are required to maintain the full details of beneficiaries to whom Sodexo Vouchers are issued.
- Payment instruments upto Rs 50,000/- can be issued by you provided full KYC of the employee or beneficiary has been completed as prescribed by RBI guidelines.
- Payment instruments can be issued upto Rs 50,000/- by carrying out customer due diligence. This should be done by companies/institutions by ensuring that they keep full details of the employees/beneficiaries to whom the payment instruments are issued.
- Customers should make advance payment as the same needs to be deposited in Escrow Account on issuance of vouchers.
- Customers and Affiliates need to comply with the Know Your Customer / Anti-Money Laundering & Combating Financing of Terrorism Guidelines issued by RBI.
- Affiliates should report suspicious transaction to Sodexo on email@example.com.
- The Company has entered into an escrow agreement with Citibank NA and has opened an escrow account with the Fort branch of Citibank NA in compliance with the “Issuance and Operation of Pre-Paid Instruments in India (Reserve Bank) Directions 2009”. Accordingly all payments to our Affiliates will be made from the escrow account.
- In case of any query or need for support the customer can write us on firstname.lastname@example.org or call on 022-43214321