Overview

The Zeta Spotlight Gifting solution is fully compliant with RBI regulations. In this article, you will know about:

Gifting Specifications

Specifications	Digital Gift Card	Physical Gift card	Brand Vouchers	Card-based	Cash Transfer
Maximum loading limit.	Rs. 10000 per card	Rs. 10000 per card	Rs. 10000 per card	Rs. 10000 per voucher	-
Reloadable	x	x	x	✔	✔
Maximum card limit per user	x	x	x	x	-
ATM withdrawals	x	x	-	x	✔
Bank withdrawals	x	x	-	x	✔
Bill uploads	x	x	-	x	✔
Customer should be full KYCed	x	x	x	✔	✔
Revoke of funds	✔	✔	✔	x	x

The Maximum value of each prepaid gift instrument shall not exceed Rs. 10,000.
These instruments shall not be reloadable.
Cash-out or refund or funds transfer shall not be permitted for such instruments.
KYC details of the purchasers of such instruments shall be maintained by the PPI Issuer. Separate KYC would not be required for customers who are issued such instruments against debit to their bank accounts in India.
Entities shall adopt a risk-based approach, duly approved by their Board, in deciding the number of such instruments which can be issued to a customer, transaction limits, etc.
The gift instruments may be revalidated (including through issuance of the new instrument) as per the Board approved policy of the issuer.
The features of such PPIs shall be clearly communicated to the PPI holder by SMS / e-mail / post or by any other means at the time of issuance of the PPI / before the first loading of funds.

According to the RBI, the transfer limit per gift instrument is Rs. 10,000. Zeta allows employers to issue a gifting instrument multiple times in case the gift amount exceeds more than the transfer limit.
The employees are required to perform their full KYC to increase the transfer limits in certain instruments such as Cash Incentives and Card-based transfers.

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