Reserve Bank of India (RBI) on Tuesday cautioned general public against using applications (apps) issued by unauthorised entities, as it informed that Gurugram-registered "sRide Tech Private Limited" is operating a pre-paid instrument (wallet) through its car-pooling app "sRide" without obtaining the required permissions.
As such, any person dealing with sRide Tech Private Limited, will be doing so at their own risk, it said in a statement.
The central bank further said that sRide Tech Private Limited is operating the pre-paid instrument through its car-pooling app 'sRide' without seeking the required authorisation from it under the provisions of the Payment and Settlement Systems Act, 2007.
Urging people to exercise caution while dealing with any such application, RBI said that such entities should be verified before use.
"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 said.
The list of authorised payment system providers and authorised payment system operators are displayed on the RBI website.
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