Due Diligence of BC Sub-Agent:

During the appointment of BC Sub-Agents, the following questions to be asked and feedback to be obtained in writing and duly signed by BC Sub-Agent (please attach documents wherever necessary):

Sr. No. / Question / Answer
1 / Profile and nature of business carried-out by BC Sub-Agent.
2 / Whether the place of business is owned by BC Sub-Agent or is on rent basis, the Area of place of business in Sq.ft., location and infrastructure of existing business conducted by BC Sub-Agent?. Provide ownership document/Rent Agreement.
3 / Period since when the existing business is carried on by BC Sub-Agent?
4 / Annual turnover and income of BC Sub-Agent. Please attach income tax return for last 3 years.
5 / Educational qualification of BC Sub-Agent with documentary proof.
6 / Whether BC Sub-Agent has any experience regarding remittance activities?
7 / Whether any civil/criminal case was/is pending against BC Sub-Agent? Provide back ground check or Police clearance certificate.
8 / Whether BC Sub-Agent has obtained any loan for his/her business. If yes, are the EMIs paid regularly? Provide details of loan.
9 / Whether the BC Sub-Agent is self employed or carrying on business by appointing employees/workers. If yes, how many workers are employed in the establishment?
10 / Whether the telephone connection or electricity connection for establishment is self acquired or in the name of third party?

Declaration:

I undersigned hereby declare that:

I am the owner of the establishment and have required license / registration to carry on the business.

I am aware of the proposed scope of work to be carried out by me on my appointment as BC Sub-Agent of Itz Cash Card Ltd.

I have the required equipments and technology of high standard to carry on the proposed business as BC Sub-Agent.

I have read and understood the Guidelines for engaging of Business Correspondents (BCs) issued by the Reserve Bank of India (RBI) under its circular number RBI/2005-06/288 DBOD. No. BL.BC. 58/22.01.001/2005-2006 dated January 25, 2006 and RBI/2010-11/217 DBOD.No.BL.BC.43/22.01.009/2010-11 September 28, 2010 and I undertake to comply with the same. I ensure compliance with KYC/AML norms under BC Model issued by RBI/Bank/BC from time to time.

I or my establishment has not been appointed as BC Sub-Agent for any other Bank or do not have any existing valid agreement with any other entity to act as BC Sub-Agent.

I undertake that during my appointment as BC Sub-Agent of Itz Cash Card Ltd. (BC), I will not become BC Sub-Agent for any other Bank or entity.

My establishment is complying with the distance criterion [the distance between the place of business of a BC Sub-Agent and base branch of bank shall not exceed 30 Kms in rural, semi-urban and urban areas and 5 Kms in metropolitan centers or any other criterion laid down by RBI from time to time] laid down by the RBI.

My establishment/place of business is not situated in any Bank/ATM premise.

I ensure to maintain valid and proper records and accounts and issue valid acknowledgement receipt to customer for the cash collected by me on behalf of the Bank. I will not hold Bank/BC responsible for the loss suffered by me in case I receive fake or duplicate currency notes from the customers.

I shall post a signage indicating my status as BC Sub-Agent/service provider for the Bank, the name of Itz Cash Card Ltd as Business Correspondent, telephone number of base branch /controlling officer of the bank and the Banking Ombudsman and the fees for all services available at the outlet /place of business.

I shall not put any pre-condition to purchase my services/productwhile selling of any product/services of the Bank.

I shall display the charges for offering various services indicated in the brochures provided by the Bank/BC and made available in the establishment/place of business.

I will attend all training programs/meeting arranged by Bank/BC for development of my skills to effectively perform the work under BC Sub-Agent agreement.

I will keep the database and account details separately and preserve and protect security and confidentiality of customer information in my custody and make it available to the Bank /BC as per mutually agreed frequency.

I undertake to indemnify and keep indemnified the Bank/Itz Cash Card Ltd in case they suffer any loss / cost due to my negligence or non observance of this declaration, RBI guidelines and terms and conditions of the agreement.

Date:

Place:

Full name & Signature of BC Sub-Agent.

KYC Documents to be obtained from the BC Sub-Agent:

  1. Copy of PAN Card(mandatory for all categories).
  1. Registration Certificate (in case of corporate entity/partnership firm/trust/sole proprietary as applicable):
  1. Copy of Certificate of Incorporation issued by Registrar of Company.
  2. Copy of Partnership deed.
  3. Copy of Trust deed.
  4. Copy of Shops & Establishment License.
  1. Address Proof (any of the following document. not older than 3 months):
  1. Copy of Electricity Bill.
  2. Copy of Post paid telephone/mobile bill.
  3. Copy of Ration card.
  4. Copy ofRegistered Lease Agreement or Purchase Agreement.
  5. Copy of Shops & Establishment License.
  1. Identity Proof:
  1. Copy of Voter’sIdentityCard.
  2. Copy of Passport.
  3. Copy of PAN Card.
  1. Copy of Aadhaar Cardissued by theUnique Identification Authorityof India
  2. Copy ofBank Pass Book with Attested Photo.
  1. Applicable business registration certificates mandatory for all categories:
  1. Copy of Service Tax Registration certificate.
  2. Copy of VAT Registration certificate.
  3. Copy of Sales Tax (CST)Registration certificate.
  1. List of Directors/Partners/trustees in case of incorporated entity.
  1. Board Resolution or power of attorney to appoint authorised signatory and enter into BC Sub-Agent agreement in case of corporate entity.

Note: All above applicable document shall be self certified by Sub-Agent.