PRITHVI EXCHANGE INDIA LIMITED ADII Partner and its Responsibilities

Head Office:
Gee Gee Universal , 2nd Floor, Door No. 2, Mc Nichols Road, Chetpet, Chennai -600031

RBI Licence:
Authorized Dealer Category-II (AD Category-II)
Licence No.: CHE-ADII-0021-2023

1. PRITHVI EXCHANGE INDIA LIMITED & Its Responsibilities

PRITHVI EXCHANGE INDIA LIMITED ("PEIL") is an Authorized Dealer Category-II (AD Category-II) licensed by the Reserve Bank of India (RBI) under the Foreign Exchange Management Act, 1999 (FEMA) to undertake permitted foreign exchange transactions and outward remittances in accordance with the directions, Master Directions, circulars, and guidelines issued by the Reserve Bank of India from time to time.

PEIL partners with authorised Online Referral Partners, digital marketplaces, educational platforms, and other approved business associates to facilitate customer acquisition and provide digital access to outward remittance services.

While Online Referral Partners assist customers in initiating remittance requests and collecting KYC documentation, PEIL remains solely responsible for all regulated activities relating to foreign exchange transactions, including regulatory compliance, customer due diligence, transaction approval, remittance execution, and statutory reporting under FEMA and RBI regulations.

Customers should transfer funds only to the designated bank account communicated by PRITHVI EXCHANGE INDIA LIMITED for the specific transaction. Under no circumstances should payments be made to any bank account belonging to an Online Referral Partner or any third party unless specifically instructed by PEIL.

PEIL undertakes all necessary compliance checks, including Know Your Customer (KYC), Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Anti-Money Laundering (AML), Counter Financing of Terrorism (CFT), sanctions screening, source of funds verification, and regulatory validation before approving any outward remittance transaction.

PEIL shall execute outward remittance transactions through authorised banking channels in accordance with FEMA, RBI regulations, Liberalised Remittance Scheme (LRS) guidelines (where applicable), and applicable international banking standards.

Processing timelines may vary depending upon banking hours, intermediary bank processing, regulatory verification, compliance reviews, sanctions screening, overseas banking requirements, time zone differences, and other factors beyond the reasonable control of PEIL.

1.1 Responsibilities of PRITHVI EXCHANGE INDIA LIMITED

PRITHVI EXCHANGE INDIA LIMITED shall be responsible for:

• Reviewing all customer applications received through Online Referral Partners.
• Conducting Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) wherever applicable.
• Verifying customer identity, source of funds, transaction purpose, and regulatory eligibility.
• Reviewing KYC documents submitted by customers through the Online Referral Partner.
• Requesting additional documentation or clarification wherever necessary.
• Performing Anti-Money Laundering (AML), sanctions screening, and compliance checks.
• Approving or rejecting remittance applications in accordance with internal compliance policies and RBI regulations.
• Executing outward remittance transactions.
• Coordinating with AD Category-I banks, correspondent banks, and overseas banking partners.
• Ensuring statutory reporting under FEMA and RBI regulations.
• Issuing remittance confirmations, transaction advice, and SWIFT copies (where applicable).
• Maintaining all statutory records and regulatory documentation.
• Addressing transaction-related grievances in accordance with its Customer Grievance Redressal Policy.

2. Responsibilities of PayFX as the Online Referral Partner

PayFX Fintech Solutions Private Limited ("PayFX") acts as an Online Referral Partner of PRITHVI EXCHANGE INDIA LIMITED for sourcing customers and facilitating outward remittance requests through its digital platform.

PayFX performs its responsibilities strictly in accordance with the operational procedures, compliance framework, Standard Operating Procedures (SOPs), and instructions prescribed by PRITHVI EXCHANGE INDIA LIMITED.

PayFX shall be responsible for:

• Providing a secure online platform for customers to initiate outward remittance requests.
• Assisting customers in selecting the appropriate RBI purpose code.
• Collecting Know Your Customer (KYC) documents and supporting documents as prescribed by PEIL.
• Conducting preliminary document completeness checks before submission.
• Collecting additional documents or information whenever requested by PEIL.
• Securely transmitting customer applications and documents to PEIL.
• Providing customers with transaction status updates received from PEIL.
• Assisting customers in responding to compliance queries.
• Coordinating communication between customers and PEIL throughout the transaction lifecycle.
• Providing customer support relating to onboarding, documentation, transaction status, and operational enquiries.
• Receiving customer grievances and coordinating with PEIL for matters relating to transaction execution or regulatory compliance.

PayFX does not:

• Receive customer remittance funds.
• Hold or pool customer funds.
• Perform foreign exchange conversion.
• Independently approve customer KYC.
• Perform AML or sanctions screening.
• Approve or reject remittance applications.
• Execute outward remittance transactions.
• Undertake any regulated activity reserved exclusively for RBI-authorised AD Category-I or AD Category-II entities.

3. Customer Payment Instructions

Customers must ensure that:

• Funds are transferred only to the bank account designated by PRITHVI EXCHANGE INDIA LIMITED.
• Payments are never made to PayFX or any employee, representative, consultant, or third party unless expressly authorised by PEIL.
• Payment details are verified before initiating the transfer.
• Additional documentation requested during compliance review is provided promptly.

Failure to comply with these requirements may result in delays, cancellation, or rejection of the transaction.

4. Customer Grievance Redressal Mechanism

Customers may initially contact PayFX for assistance relating to onboarding, documentation, or transaction status.

Where the matter relates to regulatory compliance, remittance execution, banking operations, or transaction approval, PayFX will coordinate with PRITHVI EXCHANGE INDIA LIMITED for appropriate resolution.

PayFX GlobalCustomer Support
Email: care@payfxglobal.com

PRITHVI EXCHANGE INDIA LIMITED Customer Grievance

Customer Support
Email: info@prithvifx.com

5. Regulatory Disclosure

PayFX acts solely as an Online Referral Partner of PRITHVI EXCHANGE INDIA LIMITED.

The collection of customer information, KYC documentation, preliminary document review, customer onboarding, transaction facilitation, and customer support activities undertaken by PayFX are performed strictly in accordance with the compliance framework, Standard Operating Procedures (SOPs), and operational instructions prescribed by PRITHVI EXCHANGE INDIA LIMITED.

Final KYC verification, Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Anti-Money Laundering (AML), sanctions screening, source of funds verification, approval or rejection of remittance requests, foreign exchange conversion, remittance execution, settlement, statutory reporting, and all regulated activities under FEMA and RBI regulations remain the sole responsibility of PRITHVI EXCHANGE INDIA LIMITED as an RBI-authorised Authorized Dealer Category-II.