Agent Distributer & Business Correspondent Services Policy

1. INTRODUCTION

This Agent, Distributor, and Business Correspondent Services Policy (“Policy”) has been formulated and issued by PROSPER PROFESSIONAL DEVELOPMENT LIFE PRIVATE LIMITED (“PROSPER”, “Company”, “We”, “Us”, or “Our”), a B2B financial technology company incorporated under the provisions of the Companies Act, 2013, having its registered office at CC Road, Tamkuhi Road, Kushinagar, Uttar Pradesh, 274406.

PROSPER operates as a technology-enabled financial services platform providing digital banking, payment, financial inclusion, and value-added financial services through its extensive network of authorized agents, distributors, merchants, retailers, and Business Correspondents (BCs) across India.

This Policy establishes the legal, operational, compliance, security, and ethical framework governing the provision of financial services through PROSPER’s authorized agent and distributor network.

PROSPER provides various financial and banking services through regulated partner banks, NBFCs, payment system operators, payment aggregators, and licensed financial institutions in accordance with applicable laws, RBI regulations, NPCI operational guidelines, FIU-IND requirements, and other regulatory frameworks.

2. OBJECTIVE OF THIS POLICY

The objectives of this Policy are:

• To establish a standardized framework for agent and distributor operations.
• To define the rights and responsibilities of PROSPER agents.
• To ensure regulatory compliance.
• To maintain customer trust and service quality.
• To strengthen financial inclusion initiatives.
• To prevent fraud, money laundering, and unauthorized activities.
• To ensure transparent and ethical business practices.

3. SCOPE OF SERVICES

PROSPER provides various banking and financial services through its authorized network, including but not limited to:

4. AGENT REGISTRATION AND ONBOARDING

Only authorized and verified individuals or business entities shall be permitted to operate as PROSPER agents or distributors.

The onboarding process shall include:

• Application submission;
• KYC verification;
• Aadhaar and PAN verification;
• Bank account validation;
• Business verification;
• AML screening;
• Training and orientation;
• Agreement execution;
• Compliance approval.

Upon successful verification, agents shall receive:

• Unique Agent ID;
• Login credentials;
• Digital certificate of authorization;
• Access to PROSPER systems.

5. RIGHTS AND RESPONSIBILITIES OF AGENTS

6. CUSTOMER TRANSACTION PROCESS

Customers may avail services through authorized PROSPER agents using:

• Mobile applications;
• Web portals;
• Micro ATM devices;
• POS terminals;
• Biometric devices;
• Banking correspondent systems.

Transactions may be performed through:

• UPI;
• Debit Cards;
• Aadhaar Authentication;
• Bank Accounts;
• Wallets;
• Cash (where permitted).

All successful transactions shall generate:

• Transaction Reference Number;
• UTR Number;
• Receipt Number;
• Date and Time Stamp;
• Agent Identification Number.

7. AGENT COMMISSION AND SETTLEMENT

Agents shall receive commissions as determined by PROSPER from time to time.

Commission settlements:

• Shall be processed electronically;
• Shall be credited to registered bank accounts;
• Shall generally be settled within T+1 to T+7 business days;
• Shall remain subject to reconciliation and compliance checks.

Agents shall not collect any unauthorized charges from customers.

8. AML, KYC, AND REGULATORY COMPLIANCE

All agents shall comply with:

• Prevention of Money Laundering Act, 2002;
• RBI Master Direction on KYC;
• FIU-IND requirements;
• NPCI guidelines;
• Digital Personal Data Protection Act, 2023;
• Information Technology Act, 2000;
• RBI Payment Aggregator Guidelines;
• Other applicable laws.

PROSPER reserves the right to:

• Monitor transactions;
• Freeze suspicious transactions;
• Suspend accounts;
• Report suspicious activities to authorities.

9. DATA PRIVACY AND SECURITY

PROSPER employs:

• AES-256 encryption;
• TLS 1.2+ encryption;
• Multi-factor authentication;
• Device fingerprinting;
• Real-time fraud monitoring;
• Security audits;
• VAPT assessments.

Agents shall maintain complete confidentiality of customer information.

10. AUDIT, INSPECTION AND MONITORING

PROSPER may conduct:

• Internal audits;
• External audits;
• Regulatory inspections;
• Compliance reviews;
• Transaction monitoring;
• Risk assessments.

Agents shall provide all required records and assistance.

11. SUSPENSION AND TERMINATION

PROSPER may suspend or terminate an agent for:

• Fraudulent activity;
• KYC violations;
• AML violations;
• Regulatory non-compliance;
• Customer complaints;
• Security breaches;
• Misrepresentation;
• Unauthorized charges.

12. CUSTOMER SUPPORT AND GRIEVANCE REDRESSAL

13. LEGAL AND REGULATORY FRAMEWORK

This Policy is governed by:

• Reserve Bank of India Act, 1934;
• Payment and Settlement Systems Act, 2007;
• Prevention of Money Laundering Act, 2002;
• Information Technology Act, 2000;
• Digital Personal Data Protection Act, 2023;
• RBI KYC Directions;
• RBI Payment Aggregator Guidelines;
• NPCI Operational Rules;
• FIU-IND Guidelines;
• Applicable Indian laws and regulations.

14. GOVERNING LAW AND JURISDICTION

This Policy shall be governed by the laws of India.

All disputes shall be subject to the exclusive jurisdiction of the courts situated at Lucknow, Uttar Pradesh.

15. EFFECTIVE DATE AND VALIDITY

This Policy shall become effective from 01 July 2026 and shall remain valid until modified, replaced, or withdrawn by PROSPER PROFESSIONAL DEVELOPMENT LIFE PRIVATE LIMITED.

16. DECLARATION

This Policy has been approved by the management of PROSPER PROFESSIONAL DEVELOPMENT LIFE PRIVATE LIMITED and shall be binding upon all agents, distributors, retailers, merchants, business correspondents, and employees associated with PROSPER.