SCHEDULE VII [See Regulation 27(2)] 1. A Payment Service Provider must provide the information through following statement to all customers and potential customers in the manner specified in clause 2 below: "< Name of Payment Service Provider > is authorised by the International Financial Services Centres Authority to provide payment services . Please note that this does not mean you will be able to recover the all the funds that you paid to the "< Name of Payment Service Provider >... ... ...

SCHEDULE VI [See Regulation 23(1)] (1) The directions in clause (2) below shall apply to every Regular Payment Service Provider and Significant Payment Service Provider that carries on a business of providing any of the following payment services: (a) a cross-border money transfer service; (b) a merchant acquisition service; (c) any other payment service that may be specified by the Authority. (2) A Regular Payment Service Provider and a Significant Paymen... ... ...

SCHEDULE V [See regulation 6(1)] MINIMUM NET WORTH REQUIREMENTS 1. A Regular Payment Service Provider shall have a minimum net-worth of USD 100,000 (or equivalent in a Specified Foreign Currency) on the date of commencement of operations. A Regular Payment Service Provider shall achieve a minimum net-worth of USD 200,000 (or equivalent in a Specified Foreign Currency) by the end of the third financial year (i.e., March 31) from the year of commencement of operations. 2. A Significant... ... ...

SCHEDULE IV [See Regulation 4 (1)] PERSONS EXEMPTED FROM AUTHORISATION 1. An IFSC Banking Company (IBC) or an IFSC Banking Unit (IBU) licensed or permissioned under the Banking Regulation Act, 1949 (10 of 1949). 2. A person licensed to carry on the business of issuing credit cards in IFSC. 3. Any other person or class of persons, as may be specified by the Authority. =============... ... ...

SCHEDULE III [See Regulation 13(1)] SURRENDER OF AUTHORISATION A. For a Payment Service Provider that has commenced operations 1. A Payment Service Provider that has commenced operations and wishes to surrender the authorisation issued to it shall submit the following documents to the Authority: a. A request in writing by its authorised signatory along with a copy of the resolution of its Board of Directors approving a proposal to surrender such authorisation along wit... ... ...

SCHEDULE II [See Regulation 7(1)] FIT AND PROPER REQUIREMENTS 1. This schedule sets out the fit and proper criteria applicable to all Relevant Persons. The Authority expects a Relevant Person to be competent, honest, to have integrity and to be of sound financial standing. 2. The criteria provided in this schedule are not meant to be exhaustive or a substitute for any legal provisions and are to be read in conjunction with any applicable legislation and any written instructions, noti... ... ...

SCHEDULE I [Regulation 4(3) and 4(4)] Part A Activities which are Payment Services 1. The following activities, except the activities specified in Part B, are Payment Services for the purposes of these regulations: a) account issuance service (including e-money account issuance service); b) e-money issuance service; c) escrow service; d) cross border money transfer service; e) merchant acquisition service. Part B Activities which... ... ...

34. Every Payment Service Provider shall, inter-alia, maintain and preserve the following books of accounts, records and documents, in a format suitable for electronic retrieval, for a minimum of ten (10) years from the date of commencement of operations, namely: - (a) a copy of the balance sheet at the end of each accounting period; (b) a copy of profit and loss account for each accounting period; (c) a copy of the auditor's report on the accounts for each account... ... ...

Government of Goa Department of Commercial Taxes Vikrikar Bhavan, Panaji - Goa - 403001 CCT/ 26-4/2017-2018/C/1884 Dated: 20th October, 2019 CIRCULAR (No. 18 / 2019-20 - GST) Several registered persons have inadvertently filed a NIL refund claim for a certain period under a particular category on the common portal in FORM GST RFD-01A/RFD-01 in spite of the fact that they had a genuine claim for refund for that period under the said category. Once a NIL refund claim is fi... ... ...

33. Every Payment Service Provider shall submit to the Authority, a copy of the audited financial statements, which includes Balance-sheet, Profit and Loss statement, Cash or Fund flow statement along-with the auditor's report thereon within three (3) months from the date of its finalisation to the Authority, along with the remarks or observations of the auditor, if any, on the conduct of the business, state of accounts, etc., and a suitable explanation on auditor's observations/remarks. ... ... ...

CHAPTER VIII RETURNS, DOCUMENTS AND OTHER INFORMATION 32. Every Payment Service Provider shall submit requisite documents and information in such format and in such manner as may be specified by the Authority. =============... ... ...

CHAPTER VII 31. : - (1) A Payment Service Provider shall have its place of business and registered office in IFSC. (2) A Payment Service Provider who wants to carry on some activities relating to a payment service from a place of business other than from IFSC shall seek prior approval from the Authority. =============... ... ...

30. The Authority may initiate appropriate enforcement action in case a Payment Service Provider contravenes any of the provisions of these regulations, direction or order made thereunder. =============... ... ...

29. (1) A Payment Service Provider shall depute adequate staff at its permanent place of business or registered office in IFSC to address any queries, complaints or grievances from a Payment Service User that uses one or more of the payment services provided by the Payment Service Provider and shall do so within a period of thirty days from receipt of a complaint or a grievance. (2) Payments Service Users shall be provided with one or more channels - web-based or paper-based complaint for... ... ...

28. (1) A Payment Service Provider shall secure its information technology systems and other infrastructure used for providing Payment Services from unauthorised access and manipulation. (2) A Payment Service Provider shall prepare and maintain a written document outlining the security policies and procedures put in place to fulfil the duty at sub-regulation (1). (3) The Authority may, if it feels necessary to do so, issue directions to the Payment Service Providers about the procedure... ... ...

27. (1) A Payment Service Provider shall ensure that due regard is given to protecting the interests of Payment Service Users and the relevant information is communicated to them in a clear and fair manner that minimises the possibility of them getting misled. (2) A Payment Service Provider shall comply with the disclosure requirements as specified in Schedule VII of these regulations. =============... ... ...

26. (1) A Payment Service Provider shall deal with the Authority in an open and co‐operative manner. A Payment Service Provider shall keep the Authority duly informed of any significant event(s) relating to the Payment Service Provider. (2) Any proposed major change, such as change in product features/process, structure or operation of the payment services, etc., shall be communicated to the Authority with complete details. (3) A Payment Service Provider shall obtain prior approv... ... ...

25. The Payment Service Provider shall comply with all applicable laws in India as well all applicable laws of any jurisdiction/s outside India where it provides services or where the Payment Service Users are based. =============... ... ...

24. (1) The Payment Service Provider shall ensure compliance with AML,CTF & KYC Guidelines and other provisions of Prevention of Money Laundering Act, 2002 and the Rules made thereunder including any statutory modification(s) or re-enactment thereof for the time being in force. (2) The Payment Service Provider using agents for providing its services shall: a) maintain an up-to-date list of such agents; b) include such agents in their AML/CTF programmes and monitor them f... ... ...

CHAPTER VI DUTIES OF THE PAYMENT SERVICE PROVIDER 23. : (1) The Payment Service Provider shall safeguard Applicable Funds including but not limited to compliance with the directions specified in Schedule VI. (2) The Payment Service Provider shall at all times, keep Applicable Funds segregated from any other types of funds that it holds. =============... ... ...