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. =============... ... ...

22. The Payment Service Provider shall maintain complete, up-to-date records of their Third-Party Service Relationship that are identified under sub-regulation 1 of regulation 18. =============... ... ...

21. The Payment Service Provider shall require the Third-party Service Providers to have clearly defined processes for identifying, investigating, remediating and notifying Payment Service Provider in a timely manner of incidents that impact the Third-party Service Provider's ability to deliver agreed-upon services. =============... ... ...

20. (1) A Payment Service Provider shall identify, document and to the extent practically feasible, test their strategy for exiting Third-party Service Relationship involving critical services. (2) Such strategy shall cover a range of scenarios including planned migration of services, but also include adverse events like: (a) Violation or breach of applicable laws, regulations or contractual terms; (b) Deterioration in the quality of the services provided; (c) W... ... ...

19. (1) A Payment Service Provider shall conduct appropriate planning and due diligence before entering into a Third-Party Service Relationship arrangement for a critical service while ensuring that the level of due diligence is proportionate to the criticality of the relevant service. (2) Factors that are to be considered in the due diligence process shall, inter-alia, include: a. Operational and technical capability and track record, including (if applicable) drawing on any pri... ... ...

CHAPTER V RISK MANAGEMENT OF THIRD-PARTY SERVICE RELATIONSHIPS 18. (1) A Payment Service Provider shall put in place a risk-based framework to assess the criticality of services that they receive or plan to receive from a Third-party Service Provider. (2) Such assessment shall be undertaken at the time of commencement of operations and at regular intervals thereafter to identify critical services. (3) The framework under sub-regulation (1) shall consider various factors relevant ... ... ...

17. (1) A Payment Service Provider shall develop a policy for management of risks including risk management policies, procedures, and systems that enable it to identify, measure, monitor, and manage the range of risks that arise in or are borne by it while providing payment service(s). Such policy shall be subject to periodic review by the Board of the Payment Service Provider. (2) A Payment Service Provider shall establish a robust operational risk-management framework with appropriate syste... ... ...