News > RBI cautions public against using car-pooling app sRide

RBI cautions public against using car-pooling app sRide

Education | 23/02/2022 07:32 PM | Click to read full article

Reserve Bank of India has alerted citizens that a car-pooling application by the name ‘sRide’ is being run without the required permissions. In a press release, the RBI said, the Gurgaon-based sRide Tech Private Limited is operating a semi-closed wallet without obtaining the requisite authorization under the provisions of the Payment and Settlement Systems Act, 2007. 

As such, any person dealing with sRide Tech Private Limited will be doing so at their own risk.