The RBI on Tuesday mentioned Gurugram-registered sRide Tech Private Limited is working a pre-paid instrument (pockets) by its car-pooling app sRide with out acquiring the required permissions, because it cautioned the general public towards utilizing purposes issued by unauthorised entities.

As such, any particular person coping with sRide Tech Private Limited, shall be doing so at their very own danger, the central financial institution mentioned in an announcement.

RBI mentioned sRide Tech Private Limited is working a semi-closed (non-closed) pre-paid instrument (pockets) by its car-pooling app sRide with out acquiring the required authorisation from RBI underneath the provisions of the Payment and Settlement Systems Act, 2007.

The RBI urged individuals to train utmost warning whereas utilizing such software/s, coping with and earlier than parting with their cash to any such unauthorised entity.

“In their own interest, members of public should verify and satisfy themselves that the application used or the entity they are dealing with is authorised to carry out the activity it performs or assures to perform,” it mentioned.

The checklist of authorised fee system suppliers and authorised fee system operators are displayed on the RBI web site.