About Thomas Cook (India) Limited (TCIL)

Thomas Cook (India) Limited (“TCIL”) is a Category II Authorized Dealer in Foreign Exchange (AD Category II), licensed by the Reserve Bank of India (RBI). Established in 1881, Thomas Cook (India) Limited is a leading omni-channel travel services company in India, offering a broad range of services including Foreign Exchange, Corporate Travel, MICE, Leisure Travel, and Value Added Services.

1. TCIL’s Responsibilities Include:

• Ensuring full compliance with the Foreign Exchange Management Act, 1999 (FEMA), applicable RBI regulations, and relevant RBI Master Directions, including Know Your Customer (KYC) and Anti Money Laundering (AML) requirements.
• Accessing referred remittance transactions along with customer details.
• Conducting customer onboarding, verification, and due diligence, including verification of source of funds, documents submitted to TCIL and raising queries wherever required.
• Undertaking customer interaction through physical mode or virtual mode (VKYC), as permitted by RBI guidelines.
• Facilitating and executing outward remittance transactions through authorized banking partners, while maintaining appropriate records and audit trails.
• Obtaining remittance confirmations, including SWIFT copies, for the exact foreign exchange amount to be credited to the beneficiary account, and sharing the same with customers and referral partners.
• Handling customer and partner grievances in accordance with TCIL’s Customer Grievance Redressal Process.
• All regulatory, compliance, and transaction accountability rests with TCIL.

1.1 Customer Payment Instructions

• Customers must transfer funds only from their own bank accounts to TCIL’s official bank account, as communicated through authorized TCIL channels.
• Payments to any third party, intermediary, or partner accounts are strictly prohibited.
• TCIL reserves the right, at its sole discretion, to reject or discontinue transactions that do not meet regulatory or compliance requirements.

1.2 Transaction Processing & Banking Role

• All outward remittance transactions are executed by TCIL’s authorized partner bank through the SWIFT network.
• The partner bank is responsible for transaction execution and credit of funds to the beneficiary account.
• The bank may raise queries or seek additional documentation as part of its independent due diligence and regulatory obligations.

1.3 AML, Regulatory Review & Limitation of Liability

• Transactions may be subject to AML checks, regulatory scrutiny, and intermediary bank reviews.
• As a result, transactions may be delayed, placed on hold, or rejected.
• TCIL shall not be liable for delays, holds, or rejections arising due to: Regulatory requirements, AML or compliance reviews, Actions taken by partner banks or intermediary banks.