TERMS AND CONDITIONS

Prithvi Exchange (India) Limited (“Prithvi Exchange” or “PEIL”) is an RBI‑authorised Authorised Dealer Category–II (AD‑II) institution operating under the Foreign Exchange Management Act, 1999 and all applicable directives, circulars, and regulatory instructions issued by the Reserve Bank of India. As an AD‑II licence holder, the Company is permitted to undertake a defined range of foreign exchange and allied activities and is required to maintain the highest standards of compliance, governance, operational discipline, and customer protection.

The Company’s internal systems, processes, and procedures are structured to align with regulatory expectations and withstand supervisory scrutiny, ensuring that all services are delivered in a lawful, transparent, and risk‑controlled manner. Prithvi Exchange functions as a regulated financial intermediary, facilitating legitimate foreign exchange transactions for individuals and businesses while adhering to strict norms relating to KYC, AML, CFT, reporting, record‑keeping, and customer due diligence.

These Terms and Conditions (“Terms & Conditions” or “Policy”) govern the access to, use of, and engagement with the services (“Services”) offered by Prithvi Exchange (India) Limited, an entity incorporated under the Companies Act, 2013 and authorised by the Reserve Bank of India to undertake foreign exchange and related activities. By accessing, registering for, or using any Service of Prithvi Exchange, the Customer or User acknowledges and agrees to be legally bound by these Terms & Conditions, all product‑specific terms, internal operating procedures, declarations, and all applicable laws and regulatory requirements

1. DEFINITIONS & INTERPRETATION

1.1 Definitions

Unless the context otherwise requires, the following terms shall have the meanings assigned to them herein, and such definitions shall apply uniformly across these Terms and Conditions:

“Applicable Law” means and includes all statutes, enactments, legislations, rules, regulations, notifications, circulars, guidelines, directions, advisories, and orders issued, enacted, or promulgated by any governmental, statutory, or regulatory authority in India, including but not limited to the Reserve Bank of India (“RBI”), the Financial Intelligence Unit – India (“FIU‑IND”), and competent courts of law, which are in force and effect from time to time.
“Authorized Person” means any entity duly authorised by the RBI under the provisions of the Foreign Exchange Management Act, 1999 (“FEMA”) to deal in foreign exchange and related transactions.
“Customer” / “User” / “Applicant” means any natural person who registers with, accesses, or avails the Services of Prithvi Exchange (India) Limited, whether directly or indirectly, and who is bound by these Terms and Conditions.
“FEMA” refers to the Foreign Exchange Management Act, 1999, together with all amendments, rules, regulations, and notifications issued thereunder.
“LRS” refers to the Liberalised Remittance Scheme notified and amended by the RBI from time to time, permitting eligible resident individuals to remit funds abroad within prescribed limits and for permitted purposes.
“PEP” or “Politically Exposed Person” shall have the meaning assigned under the Prevention of Money Laundering Act, 2002 (“PMLA”) and the rules framed thereunder, including any subsequent amendments or clarifications.
“Platforms” means and includes all websites, mobile applications, portals, systems, and digital interfaces owned, operated, or managed by Prithvi Exchange (India) Limited (“PEIL”) for the purpose of delivering Services.
“Services” means and includes all activities undertaken by PEIL in its capacity as an AD‑II licence holder, including but not limited to currency exchange, outward remittances, issuance and management of forex cards, prepaid instruments, and such other allied or ancillary services as may be permitted under Applicable Law and RBI authorisations.

1.2 Interpretation

In the interpretation of these Terms and Conditions:

Headings are inserted solely for convenience and shall not affect the construction or interpretation of any provision herein.
Words importing the singular shall include the plural and vice versa.
References to any law, regulation, or directive shall be deemed to include all amendments, modifications, re‑enactments, or replacements thereof as may be in force from time to time.
Any reference to a person shall include natural persons, legal entities, partnerships, associations, and bodies corporate, unless the context otherwise requires.

2. REGULATORY FRAMEWORK & AUTHORISATION

2.1 Regulatory Basis of Operations

Prithvi Exchange (India) Limited operates strictly within the statutory and regulatory framework governing foreign exchange transactions in India. All activities undertaken by the Company are governed, controlled, and influenced by the following laws, regulations, and supervisory instruments, as amended from time to time:

Prithvi Exchange functions under the Foreign Exchange Management Act, 1999 (“FEMA”) and all rules, regulations, notifications, and directions issued thereunder. The Company is bound by the Master Directions, circulars, guidelines, and instructions issued by the Reserve Bank of India (“RBI”) applicable to Authorised Dealer Category–II entities. The Company complies with the Prevention of Money Laundering Act, 2002 (“PMLA”), the Prevention of Money Laundering (Maintenance of Records) Rules, and all obligations relating to reporting, monitoring, and record‑keeping. The Company adheres to all reporting requirements prescribed by the Financial Intelligence Unit – India (“FIU‑IND”), including suspicious transaction reporting, cash transaction reporting, and other mandated submissions. The Company complies with the Income‑tax Act, 1961, including provisions relating to Tax Collected at Source (TCS), reporting obligations, and any other tax‑related compliance applicable to foreign exchange transactions.

2.2 Supervisory Oversight and Compliance Controls

All Services offered by Prithvi Exchange are subject to applicable regulatory approvals, internal compliance validations, and ongoing supervisory oversight. The Company maintains robust internal control mechanisms, including KYC/AML/CFT checks, transaction monitoring systems, audit trails, and risk‑based compliance frameworks, to ensure that every transaction is lawful, legitimate, and compliant with regulatory expectations. No Service shall be processed or completed unless all statutory, regulatory, and internal compliance requirements are satisfactorily met.

2.3 Regulatory‑Driven Modifications to Services

Prithvi Exchange reserves the unconditional right to modify, restrict, suspend, or discontinue any Service, product, process, or operational feature if required to comply with changes in law, regulatory directives, supervisory instructions, or internal risk assessments. Such actions may be undertaken without prior notice where immediate compliance is necessary to meet statutory or regulatory obligations. The Customer acknowledges that regulatory compliance takes precedence over service continuity, and agrees that the Company shall not be liable for any consequences arising from regulatory‑mandated changes.

3. SCOPE OF SERVICES

3.1 Currency Exchange Services

Prithvi Exchange (India) Limited provides authorised currency exchange services in accordance with FEMA and applicable RBI regulations. These services include the sale and purchase of foreign currency notes, encashment of foreign exchange instruments, and provision of currency delivery or branch‑based pickup, wherever operationally feasible and permissible under Applicable Law. All currency exchange transactions are subject to verification of identity, purpose, documentation, and compliance checks mandated by regulatory authorities and internal policies.

3.2 Outward Remittance Services

The Company facilitates outward remittances strictly for purposes permitted under the Liberalised Remittance Scheme (LRS) and other applicable RBI guidelines. Services include processing of wire transfers, issuance of demand drafts, and execution of other outward remittance instruments as allowed for AD‑II entities. Every remittance request is subject to eligibility assessment, purpose validation, documentation scrutiny, and adherence to prescribed limits, reporting requirements, and compliance controls.

3.3 Forex, Prepaid, and Travel Card Services

Prithvi Exchange offers issuance, reload, refund, and closure of forex cards, prepaid travel cards, and similar instruments in collaboration with authorised issuers and network partners. All such services are governed by the terms and conditions of the respective card issuer, network rules, FEMA provisions, and applicable RBI guidelines. The Company may refuse or restrict card‑related services where required for regulatory, operational, or risk‑management reasons.

3.4 Ancillary and Support Services

The Company may provide ancillary services that support or facilitate foreign exchange transactions, including assistance with documentation, verification of compliance requirements, and guidance on regulatory norms applicable to the Customer’s transaction. Such support services are provided solely for facilitation and do not constitute financial advice, assurance, or certification of eligibility under Applicable Law. All ancillary services remain subject to internal policies, regulatory obligations, and supervisory oversight.

4. CUSTOMER ELIGIBILITY & GENERAL OBLIGATIONS

4.1 Eligibility Criteria

Only resident individuals, as defined under FEMA and applicable RBI regulations, are eligible to access or avail the Services of Prithvi Exchange (India) Limited, unless a specific transaction or category is expressly permitted by RBI for non‑resident or other eligible persons. Eligibility is subject to verification of identity, residential status, purpose, and documentation as required under Applicable Law.

4.2 Customer Responsibilities and Obligations

Every Customer availing Services from Prithvi Exchange is required to provide true, complete, current, and accurate information and documentation at all times. The Customer shall use the Services solely for lawful, genuine, and fully declared purposes permitted under FEMA, RBI guidelines, and other Applicable Laws. The Customer is responsible for ensuring strict compliance with all regulatory limits, thresholds, timelines, and conditions prescribed by RBI, including but not limited to LRS limits, purpose codes, documentation requirements, and reporting obligations. The Customer acknowledges that all transactions are subject to verification, scrutiny, and approval based on regulatory and internal compliance standards.

4.3 Consequences of Misrepresentation or Non‑Compliance

Any misrepresentation, concealment or suppression of material facts, submission of forged, altered, or fraudulent documents, or any attempt to misuse the Services shall result in immediate rejection, cancellation, or termination of the transaction. Prithvi Exchange reserves the right to report such instances to RBI, FIU‑IND, law enforcement agencies, or any other competent authority as required under Applicable Law. The Customer shall be solely liable for any legal, regulatory, or financial consequences arising from such misconduct.

5. BOOKING, PAYMENT & SETTLEMENT POLICY

5.1 Accepted Modes of Payment

All payments for Services must be made through banking channels and digital modes permitted under Applicable Law. Prithvi Exchange (India) Limited accepts payments through NEFT, RTGS, IMPS, net banking, UPI, and other RBI‑approved digital payment mechanisms. The Company may, at its discretion, introduce or discontinue any payment mode in order to comply with regulatory requirements or internal risk policies. No transaction shall be processed until the payment is successfully received, verified, and reconciled by the Company.

5.2 Prohibition on Cash and Third‑Party Payments

Direct cash deposits into the Company’s bank accounts are strictly prohibited and shall not be accepted under any circumstances. Payments must originate solely from the Customer’s own bank account or, where expressly permitted under RBI guidelines, from the bank account of an eligible close relative. Payments received from third‑party accounts, non‑permitted sources, or unverifiable channels shall result in immediate rejection of the transaction, reversal of funds (where permissible), and potential reporting to regulatory authorities. The Customer shall bear all consequences arising from non‑compliant payment practices.

5.3 Order Validity, Cancellation, and Refunds

All orders placed with Prithvi Exchange are time‑bound and subject to prevailing market conditions, regulatory checks, and internal approval processes. If the Customer fails to complete payment, documentation, or compliance requirements within the stipulated validity period, the order may be automatically cancelled without liability to the Company. Refunds, where applicable, shall be processed only to the Customer’s registered bank account after due verification. Any exchange loss, statutory levy, tax, fee, or service charge incurred due to cancellation, delay, or non‑compliance shall be deducted from the refundable amount. The Customer acknowledges that exchange rates are market‑driven and may fluctuate, and the Company shall not be responsible for any loss arising from such fluctuations.

6. OUTWARD REMITTANCE – DETAILED TERMS

6.1 Permissible Purposes under LRS

Outward remittances processed by Prithvi Exchange (India) Limited shall be strictly limited to purposes permitted under the Liberalised Remittance Scheme (“LRS”) and applicable RBI regulations. Permissible categories include, but are not limited to, education‑related expenses, medical treatment abroad, international travel, emigration‑related payments, maintenance of close relatives, and any other purpose expressly authorised by RBI from time to time. The Customer shall ensure that the declared purpose is genuine, accurate, and fully compliant with FEMA and LRS guidelines.

6.2 Limits and Transaction Monitoring

Outward remittances under LRS are subject to an aggregate ceiling of USD 250,000 per resident individual per financial year, or such other limit as may be prescribed by RBI. Prithvi Exchange shall conduct centralised monitoring of all remittances executed through its systems to ensure adherence to the prescribed annual limit. The Customer is solely responsible for ensuring that the cumulative remittances made through all authorised channels do not exceed the applicable LRS limit. Any breach, whether intentional or inadvertent, shall be the Customer’s liability.

6.3 Documentation Requirements

All outward remittances shall be processed only upon submission of complete and compliant documentation. Mandatory documents include a valid Permanent Account Number (“PAN”), duly completed and signed Form A2, and purpose‑specific supporting documents as prescribed under RBI guidelines, FEMA regulations, and internal compliance policies. Prithvi Exchange reserves the right to request additional documents, clarifications, or evidence to verify the legitimacy of the remittance and ensure compliance with KYC/AML/CFT norms.

6.4 Processing Timelines and External Delays

Prithvi Exchange shall process outward remittance requests within reasonable timelines, subject to successful completion of payment verification, documentation scrutiny, and compliance checks. However, the Company shall not be responsible or liable for any delays, rejections, holds, or operational issues arising at correspondent banks, intermediary banks, beneficiary banks, or international payment networks. The Customer acknowledges that such delays are outside the control of the Company and may occur due to regulatory reviews, international banking procedures, time‑zone differences, or compliance‑related interventions.

7. CURRENCY EXCHANGE – DETAILED TERMS

7.1 Exchange Rates

All currency exchange transactions undertaken by Prithvi Exchange (India) Limited are executed at market‑linked exchange rates that fluctuate based on prevailing interbank conditions, liquidity factors, and global market movements. Exchange rates are dynamic and may change at any time without prior notice. The rate applicable to a Customer shall be the rate prevailing and confirmed at the time of booking or execution of the transaction, subject to successful completion of payment, documentation, and compliance checks. The Company shall not be liable for any loss arising from rate fluctuations occurring before, during, or after the transaction.

7.2 RBI Limits and Regulatory Restrictions

Currency purchase and sale transactions are governed by limits and conditions prescribed under FEMA and applicable RBI guidelines. Customers may purchase foreign exchange up to 180 days in advance of their intended travel, subject to submission of valid supporting documents and compliance with regulatory norms. Cash transactions are subject to caps, thresholds, and restrictions imposed by RBI, including limits on the amount of foreign currency that may be purchased or encashed in cash form. All transactions must comply with KYC/AML/CFT requirements, purpose validation, and reporting obligations.

7.3 Encashment of Foreign Currency

Encashment of foreign currency notes or instruments shall be carried out only upon satisfactory verification of the Customer’s identity, residential status, and transaction purpose, in accordance with Applicable Law and internal compliance procedures. Prithvi Exchange reserves the right to request additional documents, decline encashment, or impose restrictions where required for regulatory, operational, or risk‑management reasons. All encashment transactions are subject to scrutiny, record‑keeping, and reporting requirements mandated by RBI and FIU‑IND.

8. FOREX / PREPAID / TRAVEL CARDS

8.1 Issuance and Usage

Forex, prepaid, and travel cards are issued by Prithvi Exchange (India) Limited in collaboration with authorised card issuers and network partners. Issuance, activation, loading, reloading, usage, and closure of such cards shall be governed by the product‑specific terms and conditions prescribed by the respective issuer, as well as the operating rules of the relevant card network. The Customer acknowledges that card usage is subject to FEMA regulations, RBI guidelines, merchant acceptance policies, international transaction rules, and any country‑specific restrictions applicable at the time of use. The Company reserves the right to decline issuance or restrict usage where required for regulatory, operational, or risk‑management reasons.

8.2 Refunds

Refunds arising from unutilised balances, card cancellation, or closure shall be processed strictly in accordance with issuer rules, FEMA provisions, and applicable RBI guidelines. All refunds shall be credited only to the Customer’s registered and verified bank account after completion of compliance checks, reconciliation, and settlement procedures. Exchange rate differences, charges, taxes, or fees applicable at the time of refund may be deducted as per regulatory and issuer norms. No cash refunds shall be permitted under any circumstances.

8.3 Blocking and Suspension

Prithvi Exchange and/or the card issuer may block, suspend, or restrict the card, with or without prior notice, in the event of suspected misuse, fraudulent activity, security concerns, regulatory directives, or non‑compliance with Applicable Law. The Customer acknowledges that such actions may be undertaken to safeguard the integrity of the payment system, comply with legal obligations, or mitigate operational risks. The Company shall not be liable for any loss, inconvenience, or delay arising from such blocking or suspension where undertaken in good faith or pursuant to regulatory requirements.

9. DIGITAL PLATFORMS – USER OBLIGATIONS

9.1 Credential Security

Users accessing Prithvi Exchange (India) Limited’s digital [MK1] platforms are solely responsible for maintaining the confidentiality, integrity, and security of their login credentials, authentication factors, passwords, and any other access information. The User shall ensure that such credentials are not shared, disclosed, or made accessible to any third party under any circumstances. Any activity carried out through the User’s registered credentials shall be deemed to have been undertaken by the User, and the User shall be fully liable for all resulting actions, transactions, or obligations.

9.2 Prohibited Activities

The User shall not engage in any activity that compromises, interferes with, or attempts to manipulate the functioning, security, or integrity of the Company’s digital platforms. Prohibited activities include, without limitation, attempting to tamper with system architecture, bypassing or disabling security controls, engaging in data scraping or unauthorised data extraction, misusing platform functionalities, or attempting to circumvent regulatory requirements, transaction limits, or compliance checks. Any attempt to access restricted areas, deploy malicious code, or exploit system vulnerabilities shall constitute a material breach of these Terms and Conditions and may result in legal action.

9.3 Right to Suspend Access

Prithvi Exchange reserves the absolute right to restrict, suspend, or terminate a User’s access to any digital platform, with or without prior notice, in the event of suspected misuse, security concerns, non‑compliance with these Terms and Conditions, or pursuant to regulatory or legal directives. Such suspension may be implemented to safeguard system integrity, protect customer data, or ensure compliance with Applicable Law. The Company shall not be liable for any loss, delay, or inconvenience arising from such suspension where undertaken in good faith or in compliance with regulatory obligations.

10. DATA PRIVACY & INFORMATION SECURITY

10.1 Data Collection

Prithvi Exchange (India) Limited (“PEIL”) collects, processes, and retains Customer information strictly in accordance with Applicable Law, including KYC/AML/CFT regulations, FEMA requirements, PMLA obligations, FIU‑IND reporting standards, and RBI guidelines. The categories of data collected include, but are not limited to, identity information, KYC documents, PAN, photographs, contact details, transactional data, payment information, purpose declarations, and any additional information required to verify eligibility, assess risk, or comply with statutory obligations. By availing the Services, the Customer expressly consents to such lawful collection, processing, and verification of data.

10.2 Data Protection and Security Measures

PEIL implements industry‑standard administrative, technical, and physical safeguards designed to ensure the confidentiality, integrity, and security of Customer information. These measures include secure data storage, encryption protocols, controlled access mechanisms, audit trails, network security systems, and periodic vulnerability assessments. Access to Customer data is strictly limited to authorised personnel on a need‑to‑know basis and is governed by internal confidentiality obligations, regulatory requirements, and information‑security policies. PEIL undertakes reasonable efforts to protect Customer data from unauthorised access, alteration, disclosure, misuse, or destruction; however, no system can guarantee absolute security, and the Customer acknowledges inherent risks associated with digital and electronic transmission of information.

10.3 Data Retention and Preservation

Customer information, transaction records, KYC documents, and related data shall be retained for a minimum period of eight (8) years, or for such longer duration as may be mandated under Applicable Law, including PMLA, FEMA, RBI Master Directions, and FIU‑IND reporting requirements. Data may be retained beyond the minimum period where necessary for regulatory investigations, legal proceedings, audit requirements, dispute resolution, or enforcement of rights and obligations under these Terms and Conditions. Upon expiry of the mandatory retention period, PEIL shall dispose of or anonymise data in a secure manner consistent with regulatory guidelines and internal information‑security protocols.

11. AML / CFT, SANCTIONS COMPLIANCE, LIABILITY & INDEMNITY

(Merged, Deepened, and Legally Enhanced)

11.1 AML / CFT Compliance and Due Diligence Obligations

Prithvi Exchange (India) Limited (“PEIL”) strictly complies with all Anti‑Money Laundering (“AML”), Counter‑Financing of Terrorism (“CFT”), and Know Your Customer (“KYC”) obligations prescribed under the Prevention of Money Laundering Act, 2002 (“PMLA”), the PML Rules, RBI Master Directions, and FIU‑IND guidelines.

All Customers are subject to a comprehensive risk‑based due diligence framework, including Customer Identification Procedures, verification of identity and address, assessment of transaction purpose, and validation of source of funds. Enhanced Customer Due Diligence (“ECDD”) shall be applied in higher‑risk scenarios, including transactions involving Politically Exposed Persons (“PEPs”), high‑value remittances, complex structures, or any activity that warrants heightened scrutiny.

PEIL reserves the right to request additional documents, conduct independent verification, or decline services where due diligence requirements are not satisfactorily met.

11.2 Transaction Monitoring and Mandatory Reporting

All transactions processed by PEIL are subject to continuous monitoring using automated and manual surveillance mechanisms designed to detect unusual, suspicious, or non‑compliant activity. Transactions exhibiting red flags, structuring patterns, inconsistencies, or deviations from declared purpose may be withheld, escalated, or subjected to further verification.

In accordance with statutory obligations, PEIL shall file Suspicious Transaction Reports (STRs), Cash Transaction Reports (CTRs), and any other mandated reports with the Financial Intelligence Unit – India (“FIU‑IND”) without notifying the Customer. The Customer acknowledges that PEIL is legally prohibited from disclosing the fact of such reporting or the grounds thereof.

11.3 Sanctions Screening, PEP Handling, and Regulatory Restrictions

PEIL conducts mandatory screening of Customers, beneficiaries, transactions, and related parties against domestic and international sanctions lists, including UN Sanctions Lists, OFAC advisories, RBI‑mandated lists, and other regulatory watchlists.

Transactions involving sanctioned individuals, entities, jurisdictions, or prohibited activities shall be declined, frozen, or reported in accordance with Applicable Law. Customers identified as PEPs, or those associated with PEPs, shall be subject to enhanced scrutiny, senior‑level approval, and ongoing monitoring.

PEIL may refuse, suspend, or terminate services where sanctions exposure, PEP risk, or compliance concerns are identified, without prior notice, where required to comply with statutory or regulatory obligations.

11.4 Liability Framework

11.4.1 Limitation of Liability

PEIL shall exercise reasonable skill, care, and diligence in providing its Services; however, the Company shall not be liable for any loss, delay, damage, expense, or consequence arising from circumstances beyond its reasonable control. This includes, without limitation, market fluctuations, exchange‑rate movements, system outages, network failures, payment‑gateway issues, banking delays, regulatory interventions, force majeure events, or actions of correspondent, intermediary, or beneficiary banks.

PEIL shall not be responsible for losses arising from incorrect information, incomplete documentation, non‑compliance by the Customer, or failure to meet regulatory requirements. The Company’s liability, if any, shall be strictly limited to the amount of fees or charges received by PEIL for the specific transaction in question and shall not extend to consequential, incidental, punitive, or indirect damages.

11.4.2 Customer Liability

The Customer shall be solely responsible for the accuracy, authenticity, and completeness of all information, declarations, and documents submitted to PEIL. Any loss, penalty, regulatory action, or adverse consequence arising from misrepresentation, concealment of facts, forged documents, unauthorised transactions, or breach of Applicable Law shall be borne entirely by the Customer.

The Customer acknowledges that all transactions are processed based on the information provided by them, and PEIL shall not be liable for any error, delay, or rejection caused by incorrect or misleading inputs.

11.4.3 Indemnity Obligations

The Customer agrees to fully indemnify, defend, and hold harmless PEIL, its directors, officers, employees, agents, and representatives from and against any claims, liabilities, penalties, losses, damages, costs, expenses, or proceedings (including legal fees) arising out of or in connection with:

breach of these Terms and Conditions
submission of false, inaccurate, incomplete, or misleading information
violation of FEMA, PMLA, RBI guidelines, tax laws, or any Applicable Law
unauthorised, fraudulent, or improper use of PEIL’s Services or digital platforms
disputes with beneficiaries, banks, card issuers, or third parties
chargebacks, reversals, or regulatory reporting triggered by Customer actions

This indemnity shall survive the termination, completion, or cancellation of any transaction or relationship between the Customer and PEIL.

11.4.4 Regulatory Priority and Good‑Faith Actions

The Customer acknowledges that PEIL’s obligations under Applicable Law—including reporting, monitoring, sanctions compliance, and AML/CFT requirements—take precedence over any contractual or service‑related commitments.

PEIL shall not be liable for any action taken in good faith to comply with regulatory directives, sanctions requirements, or law‑enforcement instructions, including freezing, rejecting, delaying, or reporting transactions.

12. TAXATION, STATUTORY LEVIES, GOVERNING LAW, FORCE MAJEURE & GRIEVANCE REDRESSAL

12.1 Taxation & Statutory Levies

12.1.1 Tax Collected at Source (TCS)

All transactions processed by Prithvi Exchange (India) Limited (“PEIL”) that fall within the scope of Section 206C(1G) of the Income‑tax Act, 1961 shall attract Tax Collected at Source (“TCS”) at the rates prescribed under prevailing law. TCS applicability, exemptions, and thresholds shall be determined strictly in accordance with notifications issued by the Government of India and the Central Board of Direct Taxes (“CBDT”).

The Customer acknowledges that TCS is a statutory levy and must be collected wherever mandated. PEIL shall not be responsible for any tax credit mismatches, delays in reflection of TCS, or compliance issues arising from incorrect PAN details, residency declarations, or other information provided by the Customer.

12.1.2 Goods and Services Tax (GST)

Goods and Services Tax (“GST”) shall be levied on service charges, fees, commissions, and any other taxable components associated with the Services provided by PEIL, in accordance with the GST Act and applicable rate notifications. GST shall be payable by the Customer at the time of the transaction.

PEIL shall issue tax invoices or receipts in compliance with GST regulations. The Customer shall be solely responsible for claiming any eligible input tax credit, subject to statutory conditions.

12.2 Governing Law & Jurisdiction

These Terms and Conditions, and any transaction, dispute, or claim arising out of or in connection with the Services provided by PEIL, shall be governed by and construed in accordance with the laws of India, including FEMA, PMLA, the Income‑tax Act, and all applicable RBI regulations.

The courts and tribunals situated in Chennai, Tamil Nadu, shall have exclusive jurisdiction over all disputes, claims, or proceedings arising from or relating to these Terms and Conditions or the Services provided by PEIL. The Customer expressly waives any objection to such jurisdiction on grounds of inconvenience or otherwise.

12.3 Force Majeure

PEIL shall not be liable for any failure, delay, interruption, or inability to perform its obligations due to circumstances beyond its reasonable control (“Force Majeure Events”). Such events include, without limitation:

- natural disasters, pandemics, epidemics, or public health emergencies

- war, terrorism, civil unrest, or governmental restrictions

- system failures, cyber‑attacks, power outages, or communication breakdowns

- banking system disruptions, payment‑network failures, or correspondent bank delays

- regulatory actions, sanctions, or legal prohibitions

During a Force Majeure Event, PEIL may suspend, delay, or modify its Services without liability. Once the event ceases, PEIL shall resume operations on a best‑effort basis.

12.4 Grievance Redressal

PEIL is committed to resolving Customer grievances in a fair, transparent, and time‑bound manner. Customers may submit complaints through any of the following channels:

- official branch locations

- authorised customer support channels

- designated grievance redressal email or portal

All grievances shall be acknowledged and addressed in accordance with internal policies, regulatory guidelines, and applicable timelines. If the Customer is not satisfied with the resolution provided, they may escalate the matter to the designated Grievance Redressal Officer (“GRO”) of PEIL.

Where applicable, Customers may further escalate unresolved grievances to the appropriate regulatory authority in accordance with the mechanism prescribed under Applicable Law.

13. REPRESENTATIONS & DECLARATIONS BY CUSTOMER.

The Customer, by accessing or availing any Service of Prithvi Exchange (India) Limited (“PEIL”), hereby makes the following representations, warranties, and declarations, each of which shall be deemed to be true, correct, complete, and valid at all times during the course of the relationship:

13.1 Compliance with FEMA and RBI Regulations

The Customer declares that every transaction undertaken through PEIL is fully compliant with the Foreign Exchange Management Act, 1999 (“FEMA”), all rules and regulations framed thereunder, and all applicable directions, circulars, and guidelines issued by the Reserve Bank of India (“RBI”). The Customer confirms that they have read, understood, and shall strictly adhere to all regulatory requirements governing foreign exchange transactions.

13.2 Lawful Purpose and Genuine Usage

The Customer affirms that all foreign exchange purchased, remitted, encashed, or utilised through PEIL is for lawful, bona fide, and fully declared purposes permitted under Applicable Law. The Customer undertakes not to use foreign exchange for any prohibited, speculative, or unlawful activity, including but not limited to money laundering, terrorism financing, tax evasion, or regulatory circumvention.

13.3 Accuracy and Authenticity of Information

The Customer represents that all information, documents, declarations, and supporting materials submitted to PEIL are true, accurate, complete, and free from misrepresentation or concealment. The Customer undertakes to immediately notify PEIL of any change in information or circumstances that may affect the validity of the transaction or compliance requirements.

13.4 Source of Funds

The Customer declares that all funds used for foreign exchange transactions originate from legitimate, lawful sources and are not derived from any activity that violates Indian or international law. The Customer agrees to provide evidence of source of funds whenever requested by PEIL or required under regulatory norms.

13.5 No Violation of Limits or Restrictions

The Customer confirms that they have not exceeded, and shall not exceed, the prescribed limits under the Liberalised Remittance Scheme (“LRS”) or any other applicable regulatory framework. The Customer undertakes full responsibility for monitoring their cumulative remittances across all authorised channels.

13.6 Acceptance of Regulatory Reporting

The Customer acknowledges and agrees that PEIL is legally obligated to report certain transactions to FIU‑IND, RBI, tax authorities, or other competent authorities. The Customer waives any right to be notified of such reporting and understands that PEIL is prohibited from disclosing the filing of Suspicious Transaction Reports (STRs) or other regulatory submissions.

13.7 Indemnity for Misrepresentation or Breach

The Customer agrees that any breach of the above representations or submission of false, misleading, or incomplete information shall render them solely liable for all resulting consequences, including rejection of the transaction, regulatory action, penalties, or legal proceedings. The Customer further agrees to indemnify and hold PEIL harmless against any loss, liability, or damage arising from such breach.[MK2]

14. LIMITATION OF LIABILITY

Prithvi Exchange (India) Limited (“PEIL”) shall exercise reasonable skill, care, and diligence in providing its Services; however, the Customer expressly acknowledges and agrees to the following limitations:

14.1 Exclusion of Indirect and Consequential Losses

PEIL shall not be liable for indirect losses, incidental losses, special losses, inter damages, or consequential losses of any kind, including but not limited to loss of profits, loss of business opportunity, loss of goodwill, loss arising from exchange‑rate fluctuations, or any loss resulting from delays attributable to banking networks, correspondent banks, payment intermediaries, or external systems.

14.2 Limitation of Direct Liability

To the extent permitted under Applicable Law, PEIL’s aggregate liability for any claim arising out of or relating to a transaction, whether in contract, tort, negligence, or otherwise, shall be strictly limited to the amount of service fees or charges received by PEIL for the specific transaction giving rise to the claim. Under no circumstances shall PEIL’s liability extend to the principal amount of foreign exchange or remittance value.

14.3 No Liability for Customer‑Induced Errors

PEIL shall not be responsible for any loss, delay, or rejection arising from incorrect information, incomplete documentation, regulatory non‑compliance, or misrepresentation by the Customer. Transactions are processed strictly based on the information provided by the Customer, and any error or consequence resulting from such information shall be solely the Customer’s responsibility.

14.4 External Dependencies and System Risks

PEIL shall not be liable for any failure or delay caused by system outages, network failures, payment‑gateway issues, banking disruptions, cyber incidents [MK3] , regulatory interventions, or any other circumstances beyond its reasonable control. The Customer acknowledges that foreign exchange and remittance transactions inherently involve third‑party systems, international networks, and regulatory checkpoints that may impact timelines and outcomes.

14.5 Good‑Faith Compliance Actions

PEIL shall not be liable for any loss, delay, or inconvenience arising from actions taken in good faith to comply with FEMA, PMLA, AML/CFT obligations, sanctions requirements, or regulatory directives. This includes freezing, rejecting, delaying, or reporting transactions where required under Applicable Law.

15. INDEMNITY

The Customer agrees to fully and unconditionally indemnify, defend, and hold harmless Prithvi Exchange (India) Limited (“PEIL”), its directors, officers, employees, agents, representatives, and affiliates from and against any and all claims, demands, actions, liabilities, penalties, losses, damages, costs, or expenses (including reasonable legal fees and expenses) arising out of or in connection with:

any breach of these Terms and Conditions by the Customer
any misrepresentation, false statement, concealment, or suppression of material facts
submission of forged, altered, or fraudulent documents
violation of FEMA, PMLA, RBI guidelines, tax laws, or any Applicable Law
unauthorised, improper, or fraudulent use of PEIL’s Services or digital platforms
non‑compliance with KYC/AML/CFT requirements, sanctions rules, or reporting obligations
disputes with beneficiaries, banks, card issuers, or third parties arising from Customer actions
chargebacks, reversals, or regulatory reporting triggered due to Customer conduct
any loss or liability incurred by PEIL due to the Customer’s negligence, misconduct, or unlawful activity

This indemnity obligation shall apply irrespective of whether the claim arises directly or indirectly from the Customer’s actions and shall remain in full force and effect even after termination, cancellation, or completion of any transaction or relationship between the Customer and PEIL.

The Customer acknowledges that this indemnity is a continuing obligation, intended to protect PEIL from regulatory, financial, operational, and reputational risks arising from Customer behaviour.

16. FORCE MAJEURE

Prithvi Exchange (India) Limited (“PEIL”) shall not be held liable for any failure, delay, interruption, or inability to perform its obligations—whether in whole or in part—if such failure or delay results from circumstances or events beyond its reasonable control (“Force Majeure Events”).

16.1 Scope of Force Majeure Events

Force Majeure Events include, without limitation:

- Acts of God such as floods, earthquakes, cyclones, fires, or other natural disasters

- Public health emergencies, pandemics, epidemics, quarantines, or government‑mandated lockdowns

- War, hostilities, civil unrest, riots, terrorism, or threats thereof

- Governmental actions, regulatory prohibitions, sanctions, embargoes, or changes in law

- Banking system disruptions, payment‑network failures, or correspondent bank delays

- Cyber incidents, system crashes, malware attacks, data‑centre outages, or communication breakdowns

- Power failures, utility disruptions, or infrastructure collapse

- Any other event that materially impairs PEIL’s ability to operate or fulfil its obligations despite reasonable efforts

16.2 Suspension of Obligations

During the continuance of a Force Majeure Event, PEIL may suspend, delay, or modify the affected Services without incurring any liability. The Customer acknowledges that foreign exchange and remittance operations rely on multiple external systems and regulatory checkpoints that may be impacted by such events.

16.3 Resumption of Services

PEIL shall resume normal operations as soon as reasonably practicable once the Force Majeure Event ceases. The Customer agrees that PEIL shall not be responsible for any loss, inconvenience, or consequential impact arising from such suspension or delay when undertaken in good faith.

16.4 No Waiver of Regulatory Obligations

Nothing in this clause shall relieve the Customer of their obligations under FEMA, PMLA, RBI guidelines, or any other Applicable Law. Regulatory compliance remains mandatory irrespective of Force Majeure conditions.

17. AMENDMENTS & MODIFICATIONS

Prithvi Exchange (India) Limited (“PEIL”) reserves the absolute right, at its sole discretion, to amend, modify, update, or supplement these Terms and Conditions, in whole or in part, at any time. Such amendments may be undertaken to ensure alignment with:

changes in Applicable Law, including FEMA, PMLA, the Income‑tax Act, and GST laws
new or revised RBI directions, circulars, or Master Guidelines
updates mandated by FIU‑IND, enforcement agencies, or other competent authorities
operational, technological, or security enhancements
internal policy revisions undertaken for risk‑management or compliance purposes

Any amendment or modification shall become effective immediately upon publication on PEIL’s official platforms or upon communication through any authorised channel. Continued use of the Services after such amendments shall constitute deemed acceptance by the Customer.

The Customer acknowledges that regulatory frameworks governing foreign exchange, remittances, AML/CFT, and digital operations evolve frequently, and PEIL must update its policies accordingly. The Customer agrees to remain informed of such changes and comply with the updated Terms and Conditions at all times.

18. GOVERNING LAW & JURISDICTION

18.1 Governing Law

These Terms and Conditions, and any transaction, obligation, dispute, or claim arising out of or in connection with the Services provided by Prithvi Exchange (India) Limited (“PEIL”), shall be governed by and construed strictly in accordance with the laws of India, including but not limited to:

the Foreign Exchange Management Act, 1999 (FEMA)
the Prevention of Money Laundering Act, 2002 (PMLA)
the Income‑tax Act, 1961
the Goods and Services Tax (GST) laws
all applicable rules, regulations, circulars, and directions issued by the Reserve Bank of India (RBI)
any other statute, notification, or regulatory framework applicable to foreign exchange and remittance services

The Customer acknowledges that compliance with Indian law and RBI directives is mandatory and overrides any conflicting contractual or commercial understanding.

18.2 Exclusive Jurisdiction

The Customer agrees that the courts and tribunals having jurisdiction over the location of PEIL’s registered office shall have exclusive jurisdiction over all disputes, claims, suits, or proceedings arising out of or relating to:

these Terms and Conditions
any transaction or Service provided by PEIL
interpretation or enforcement of rights and obligations
any alleged breach, misconduct, or regulatory non‑compliance

The Customer expressly waives any objection to such jurisdiction on grounds of inconvenience, forum non conveniens, or any other basis.

18.3 Regulatory Priority

In the event of any conflict between contractual terms and regulatory requirements, the Customer acknowledges that RBI directions, FEMA provisions, and statutory obligations shall prevail. PEIL shall not be liable for any action taken in good faith to comply with such regulatory mandates.

19. GRIEVANCE REDRESSAL MECHANISM

Prithvi Exchange (India) Limited (“PEIL”) is committed to providing a transparent, fair, and time‑bound mechanism for addressing Customer grievances. All complaints shall be handled in accordance with internal policies, RBI guidelines, and applicable statutory requirements.

19.1 Submission of Complaints

Customers may lodge complaints relating to Services, transactions, charges, delays, or any operational matter through any of the following authorised channels:

PEIL branch offices
Designated customer support email or helpline
Official grievance submission portal, where available

All complaints must include complete details such as Customer name, transaction reference, nature of grievance, and supporting documents to enable effective resolution.

19.2 Internal Escalation Framework

PEIL shall acknowledge receipt of the complaint and endeavour to resolve the issue within the timelines prescribed under internal policies and regulatory guidelines. If the Customer is not satisfied with the initial resolution, the complaint may be escalated to the Grievance Redressal Officer (GRO) of PEIL.

The GRO shall review the matter independently and provide a reasoned response based on facts, regulatory requirements, and internal controls.

19.3 Escalation to RBI – Complaint Management System (CMS)

If the Customer remains dissatisfied with the resolution provided by PEIL, or if the complaint is not addressed within the prescribed timelines, the Customer may escalate the matter to the Reserve Bank of India’s Complaint Management System (RBI CMS) in accordance with the applicable grievance redressal framework.

19.4 Escalation to RBI Ombudsman

Where eligible under the RBI Ombudsman Scheme, the Customer may further escalate unresolved grievances to the RBI Ombudsman having jurisdiction over the area in which the relevant PEIL branch or registered office is located. The Ombudsman may review the complaint, seek clarifications, and issue directions in accordance with the Scheme.

19.5 Good‑Faith Handling and Regulatory Compliance

PEIL shall handle all grievances in good faith, maintain proper records, and comply with all reporting and disclosure requirements mandated by RBI. The Customer acknowledges that grievance redressal timelines may vary depending on the complexity of the issue, involvement of external agencies, or regulatory dependencies.

19.6 No Waiver of Regulatory Rights

Nothing in this clause shall restrict the Customer’s statutory right to approach regulatory or judicial authorities as permitted under Applicable Law. Similarly, PEIL’s efforts to resolve grievances shall not be construed as an admission of liability unless expressly stated in writing.

20. TERMINATION, NOTICES & MISCELLANEOUS PROVISIONS

20.1 Termination

20.1.1 Termination by PEIL

Prithvi Exchange (India) Limited (“PEIL”) reserves the absolute right to suspend, restrict, or terminate the Customer’s access to any Service, with or without prior notice, under the following circumstances:

breach of these Terms and Conditions
non‑compliance with FEMA, PMLA, RBI guidelines, or any Applicable Law
submission of false, forged, or misleading documents
suspicious, fraudulent, or unauthorised activity
sanctions exposure, AML/CFT concerns, or adverse risk assessment
regulatory directives requiring immediate cessation of Services

PEIL may also terminate Services for operational, security, or risk‑management reasons, or where continuation of the relationship is deemed detrimental to regulatory compliance.

20.1.2 Termination by Customer

The Customer may request termination of Services or closure of their relationship with PEIL, subject to:

settlement of all outstanding dues, charges, or obligations
completion of regulatory checks, including KYC/AML verification
submission of required documentation for closure

20.1.3 Effect of Termination

Upon termination:

all pending transactions may be cancelled, withheld, or processed subject to regulatory clearance
PEIL may retain Customer information for the mandatory retention period under Applicable Law
indemnity, liability, and compliance obligations shall survive termination

Termination shall not affect any rights or remedies accrued prior to the date of termination.

20.2 Notices

20.2.1 Mode of Communication

All notices, communications, statements, or disclosures required under these Terms and Conditions may be provided by PEIL through:

email to the Customer’s registered email address
SMS or electronic alerts
publication on PEIL’s official website or digital platforms
written communication delivered to the Customer’s registered address
any other mode permitted under Applicable Law

20.2.2 Deemed Receipt

Notices shall be deemed to have been received:

immediately, when sent electronically
within 48 hours, when published on official platforms
within 5 business days, when sent by registered or speed post

The Customer is responsible for maintaining updated contact details and ensuring accessibility to communications.

20.3 Miscellaneous Provisions

20.3.1 No Waiver

Failure by PEIL to enforce any right, provision, or remedy under these Terms and Conditions shall not constitute a waiver of such right or remedy, nor shall it prevent future enforcement.

20.3.2 Severability

If any provision of these Terms and Conditions is held invalid, unlawful, or unenforceable by a competent authority, the remaining provisions shall continue in full force and effect.

20.3.3 Assignment

The Customer shall not assign or transfer any rights or obligations under these Terms and Conditions without prior written consent from PEIL. PEIL may assign or transfer its rights or obligations to any affiliate, successor, or permitted third party as allowed under Applicable Law.

20.3.4 Entire Agreement

These Terms and Conditions constitute the entire agreement between the Customer and PEIL with respect to the Services and supersede all prior communications, representations, or understandings, whether oral or written.

20.3.5 Relationship of Parties

Nothing in these Terms and Conditions shall be construed as creating a partnership, joint venture, agency, or fiduciary relationship between the Customer and PEIL. The relationship is strictly that of an independent service provider and Customer.

20.3.6 Survival of Obligations

All provisions relating to indemnity, limitation of liability, AML/CFT compliance, data retention, and regulatory obligations shall survive termination or expiry of the Customer’s relationship with PEIL.

21. CONTACT DETAILS

For all queries, service requests, grievance submissions, or regulatory communications, Customers may contact Prithvi Exchange (India) Limited (“PEIL”) through the following official channels:

21.1 Registered Office

Prithvi Exchange (India) Limited Registered Office: Gee Gee Universal, 2nd Floor, Door No. 2 Mc Nichols Road, Chetpet , Chennai, Tamil Nadu, India – 600031. (All legal notices, statutory communications, and regulatory correspondence shall be addressed to this location.)

21.2 Email Communication

Official Email: [email protected] (Customers may use this email for service‑related queries, documentation submissions, and grievance escalation.)

21.3 Customer Support Phone

Phone: [●] (Available during business hours for transaction support, service assistance, and operational queries.)

21.4 Official Website

Website: www.prithvifx.com (The website provides access to policies, service information, regulatory disclosures, and digital service channels.)

21.5 Accuracy of Contact Information

The Customer is responsible for ensuring that communications are sent only to the above authorised channels. PEIL shall not be liable for any loss or delay arising from communications sent to incorrect, unofficial, or unauthorised addresses.