We comply with the Anti-Money Laundering (AML) guidelines established by the Reserve Bank of India, per its circular RPCD.RRB.RCB.AML.BC.No.02/07.51.018/2014-15, dated 1 July 2014, and updated periodically. Our AML policy includes, but is not limited to, the following key conditions:
Every Campaign Organizer must verify their identity according to the Know Your Customer (KYC) requirements outlined in the guidelines. This includes verifying the registered mobile number via a One-Time Password (OTP) and may also involve submitting one of the identification documents such as a Permanent Account Number (PAN), Aadhaar Card, Passport, Driving License, or Voter ID, as recognized by the Reserve Bank of India. The list of accepted documents will be updated on the cypindia.com website at its sole discretion, from time to time.
Every Recipient must verify their identity according to the KYC requirements. This includes verifying the registered mobile number via OTP and may require one of the RBI-recognized identification documents mentioned above. The list of accepted documents will be updated on the cypindia.com website at its sole discretion.
Verification is required to withdraw funds from CYP India and may be requested by CYP India, at its discretion, during a campaign. Failure to comply may result in the cancellation of the fundraising campaign, with funds potentially returned to donors in such cases.
Campaign Organizers are not permitted to create multiple Campaigns without providing proof of fulfilling obligations from the original Campaign. Inadequate fulfillment of Campaign obligations may lead to the removal of the Campaign(s) from CYP India and CYP India may seek reimbursement of raised Campaign funds, including the potential use of third-party collection services. Only the Campaign Owner is permitted to collect Campaign funds.
Campaign Owners and Recipients are responsible for collecting and remitting any taxes on Contributions and any taxes due in connection with Campaign Owners and/or Recipients.
Campaign Owners may not use a false email address to self-fund or contribute to their own Campaigns. This is a violation of both Razorpay policies and our Terms of Use.
CYP India may verify the identity and other information provided by Campaign Owners and may delay, withhold, reverse, or refund Contributions or other amounts without notice or liability if unable to verify any information satisfactorily. Campaign Owner eligibility is subject to CYP India's review of the fulfillment status of prior crowdfunding obligations.
Tax authorities may classify funds raised on the Services as taxable income to the Campaign Owner or Recipient. CYP India will ask for the PAN or tax identification number of Campaign Owners, beneficiaries, and/or Recipients to report taxable income to relevant authorities.
Contributions on cypindia.com are accepted only through standard channels such as verified credit or debit cards, net banking, bank transfers, cheques, prepaid instruments (e.g., wallets), Unified Payment Interface (UPI), or cash (within RBI limits). For cash payments above INR 24,999, the contributor must provide a PAN. Cash payments are accepted only from Indian residents.
Recipients (Campaign Organizers, whether individuals or organizations) must comply with foreign exchange rules as specified by the Foreign Exchange Management Act (FEMA) of the RBI. Failure to do so may result in fundraiser cancellation, with donations refunded to donors.
CYP India reserves the right to update this AML policy at its sole discretion from time to time.
Donations made through CYP India are final and cannot be refunded except under specific conditions outlined in CYP India's Refund Policy. All Donation payments are considered final and cannot be refunded. However, CYP India will issue refunds under the following exceptional scenarios:
If a Campaign is identified as fraudulent or in violation of the Terms of Service, and no funds have been transferred to the Recipient, CYP India may refund all donations to the donors.
If a Donation has been made using an unauthorized payment instrument not belonging to the user (Donor), and the user requests a refund, CYP India will consider issuing a refund.
If the Campaign Organizer posts an update indicating that the intended purpose of the fundraising campaign is no longer possible and no funds have been transferred to the Recipient, CYP India may refund the donations to the donors.
Any other claims for refunds will be considered at the sole discretion of the CYP India team.
All refunds will be credited to the original mode of payment within 7-10 bank working days.