Wallet Policy (eRupee Global Wallet)

This Wallet Policy (the Policy) is issued by Bharat Atom Renewable Resources Energy Limited (BARREL), CIN U35100PN2024PLC230800, registered office RH 11, Mayfair Eleganza - II, NIBM Road, Kondhwa Kh., Pune 411048, Maharashtra, India, and applies from 10 November 2026. It explains how eRupee Global Wallet will be integrated with BARREL’s platforms, including BARREL Shop (shop.barrel.energy), BARREL OS (os.barrel.energy), the Power Trading Exchange and Power Asset Exchange, and BARREL’s project, service and rental offerings.

This Policy governs the relationship between you and BARREL for use of the wallet on BARREL’s platforms. The wallet itself is governed by the Wallet Provider’s own terms and conditions, privacy notice and fee schedule (the Wallet Terms), which you accept directly with the Wallet Provider. If this Policy and the Wallet Terms conflict on anything about the wallet itself (such as KYC, limits, balances or refunds of balance), the Wallet Terms prevail. This Policy prevails on anything about BARREL’s platforms and services.

This Policy should be read with the Terms of Use, the Payment and Liability Policy, the Escrow Policy, the Refund and Cancellation Policy, the Invoicing Policy and the Privacy Policy.

eRupee Global Wallet is operated by its own operator, the Wallet Provider, under that provider’s licences, authorisations and registrations, which may include authorisation from the Reserve Bank of India (RBI) under the Payment and Settlement Systems Act 2007 and the arrangements needed for foreign exchange under the Foreign Exchange Management Act 1999. The Wallet Provider, the licences it holds and the services it is authorised to provide will be named on the wallet launch page and in the Wallet Terms. BARREL will offer only those wallet functions that the Wallet Provider is authorised to provide.

BARREL:

• is not a bank, payment bank, payment aggregator, authorised dealer or money changer, and does not issue prepaid payment instruments;
• does not hold, pool or control wallet balances, and does not accept deposits;
• integrates the wallet as a payment and payout option on its platforms, displays wallet information to you, and passes payment instructions that you give to the Wallet Provider;
• will, unless and until BARREL itself obtains an authorisation required by law and announces it, act only as a merchant, platform and referral partner of the Wallet Provider.

The Wallet Provider is responsible for opening and operating your wallet, KYC, holding balances, executing transactions, foreign exchange conversion and remittance, security of the wallet, statements, dispute handling for wallet transactions and compliance with RBI, FEMA and anti-money-laundering requirements that apply to it.

eRupee Global Wallet or the Wallet

the multi-currency digital wallet named eRupee Global Wallet, operated by the Wallet Provider and linked to your BARREL account.

Wallet Provider

the operator of eRupee Global Wallet, together with any bank, authorised dealer or other regulated partner through which it provides the Wallet, as named in the Wallet Terms.

Wallet Terms

the Wallet Provider’s terms and conditions, privacy notice, fee schedule and other documents that govern the Wallet.

BARREL Account

your user account on any of BARREL’s platforms.

Balance

the money held in the Wallet in your name, in each currency the Wallet supports.

KYC

know-your-customer verification under the Prevention of Money-laundering Act 2002, the rules made under it and the RBI Master Direction on KYC, as applied by the Wallet Provider.

Minimum KYC and Full KYC

the lower and higher levels of KYC that the RBI framework for the relevant instrument allows, each with its own limits and features.

Linked Transaction

a payment, deposit, payout, refund or other movement of money between your Wallet and an Order, invoice, escrow arrangement or payout on BARREL’s platforms.

Unauthorised Transaction

a debit to your Wallet that you did not authorise, for example because of fraud, a stolen device, or a breach of the Wallet Provider’s or BARREL’s systems.

FEMA

the Foreign Exchange Management Act 1999 and the rules, regulations and RBI directions made under it.

LRS

the Liberalised Remittance Scheme of the RBI for resident individuals.

To link and use the Wallet on BARREL’s platforms you must:

• hold an active BARREL Account in good standing;
• be eligible for the Wallet under the Wallet Terms, which may include being an Indian resident, a business registered in India, or a non-resident or foreign entity only where the Wallet Provider is allowed to serve it;
• if an individual, be at least 18 years old and competent to contract under the Indian Contract Act 1872;
• if a business, be validly constituted and act through a person authorised to bind it, and complete KYC for the entity and its beneficial owners;
• not be a person named on, or owned or controlled by a person named on, a sanctions list that applies in India or to the Wallet Provider.

BARREL and the Wallet Provider may each refuse to link a Wallet to a BARREL Account without being obliged to give reasons, where the law or their risk policies require.

The Wallet Provider carries out KYC in accordance with the law. Depending on what the Wallet Provider offers and the RBI framework that applies to it:

• Minimum KYC may allow a limited wallet with lower limits and fewer features (for example, no cash withdrawal, no fund transfer to other persons and no foreign currency), for a limited period, after which Full KYC is needed;
• Full KYC may be completed with officially valid documents, Aadhaar-based authentication where permitted, Central KYC records, or Video-based Customer Identification (V-CIP / Video-KYC) where the Wallet Provider offers it;
• business wallets need entity documents (such as certificate of incorporation, PAN, GSTIN and board or partner authority) and identification of beneficial owners;
• foreign currency features may need additional information, such as residential status, purpose of the transaction and supporting documents.

Re-KYC. The Wallet Provider will ask you to update your KYC periodically, and whenever your details change or it has doubts about the information it holds. If you do not complete re-KYC in time, features may be restricted or the Wallet may be frozen, as the Wallet Terms state.

BARREL does not carry out KYC for the Wallet on the Wallet Provider’s behalf unless the Wallet Provider has lawfully appointed it to do so and that is announced. BARREL may separately verify you as a user of its platforms under its own policies (for example, GSTIN and PAN checks for sellers). Verification by BARREL is not KYC for the Wallet, and Wallet KYC is not verification by BARREL.

1. 1Sign in to your BARREL Account and open the wallet section, once it is launched.
2. 2Choose to open a new eRupee Global Wallet or link an existing one. You will be taken to the Wallet Provider’s pages or app to accept the Wallet Terms and complete KYC.
3. 3Give your consent for BARREL and the Wallet Provider to share the data described in the clause on data sharing.
4. 4Authorise the link with the Wallet Provider’s authentication (for example OTP, PIN or device confirmation).
5. 5The linked Wallet then appears as a payment and payout option on your BARREL Account.

For a business account, only users with the role permission Finance (or a higher role set by the account administrator) may link the Wallet, approve payments from it or change payout settings. Account administrators are responsible for assigning these roles carefully.

You may unlink the Wallet at any time from the wallet section, unless a Linked Transaction is in progress or funds are committed to an escrow arrangement. Unlinking does not close the Wallet; closure is done with the Wallet Provider.

Once launched, and only to the extent the Wallet Provider’s authorisations allow, the Wallet may be used on BARREL’s platforms to:

• pay for Orders on BARREL Shop and for BARREL’s own invoices (projects, services, rentals, BARREL OS subscriptions and licences);
• pay BARREL’s Platform fees, listing fees, data-room and verification fees;
• pay security deposits and escrow deposits under the Escrow Policy and the Equipment Rental Policy;
• receive payouts as a seller or service provider, and refunds as a buyer;
• view balances, Linked Transaction history and statements relating to BARREL transactions.

The Wallet may not be used on BARREL’s platforms for anything unlawful, for transactions unrelated to a genuine supply of goods or services, for paying for power traded outside a licensed framework, for speculation, for gambling, or to move money between parties without an underlying transaction. BARREL may block Linked Transactions that appear to break these rules.

The Wallet is designed to hold Indian rupees and, where permitted, other currencies. Holding, converting, sending or receiving any currency other than the Indian rupee is available only to the extent permitted by FEMA, RBI directions and the Wallet Provider’s licences, and may be limited by your residential status, KYC level and the purpose of the transaction.

Conversion. When a payment or payout involves a conversion between currencies, the exchange rate, any spread or mark-up over the reference rate, the fees and the amount that will be debited and credited are shown before you confirm. Once you confirm, the conversion is final, except as the Wallet Terms provide. Rates move constantly; a quote is valid only for the time shown with it.

Prices on BARREL. BARREL’s platforms price most goods and services in Indian rupees. Where an Order is priced in a foreign currency, for example for an export, the Invoicing Policy explains how GST values are converted. BARREL does not set the Wallet Provider’s exchange rates and does not earn a share of the spread unless that is disclosed before you confirm.

Exchange risk. Where a refund is made in a different currency from the original payment, or later than the original payment, the amount you receive may differ because of rate changes. Neither BARREL nor the Wallet Provider is liable for exchange rate movements, except where caused by its own error.

Outward remittances by resident individuals under the Liberalised Remittance Scheme are subject to the LRS limit for the time being (at the date of this Policy, USD 250,000 per financial year across all banks and providers), the permitted purposes, and the declarations and documents the Wallet Provider or its authorised dealer bank requires. Tax may be collected at source on certain remittances under the applicable provisions of the income-tax law.

Outward remittances by businesses (for example, payment for imported equipment or services) are made under the current account rules of FEMA and require the supporting documents the authorised dealer asks for, such as invoices, contracts, bills of entry and declarations.

Purpose codes. Every cross-border transaction must carry the correct RBI purpose code. You are responsible for choosing the right purpose and giving truthful information. A wrong purpose code can delay or block a transaction and may breach FEMA.

Inward remittances (for example, export proceeds or payments from foreign buyers) are credited only where the Wallet Provider is authorised to receive them, and may require the purpose, the sender’s details and supporting documents. Export proceeds must be realised within the time FEMA allows. The Wallet Provider may return or hold a remittance it cannot verify.

BARREL does not itself carry out remittances and does not give tax or foreign exchange advice. Take your own professional advice before making cross-border payments.

Limits. The Wallet is subject to limits on balance, monthly loading, transaction value and transfers set by the RBI framework that applies to the Wallet Provider and by its own risk policies. Limits depend on your KYC level, account type and currency. The limits that apply to you are shown in the Wallet and in the Wallet Terms. BARREL may set lower limits for Linked Transactions on its platforms for risk reasons and will show them on the payment page.

Loading. Money can be loaded only by the methods the Wallet Provider supports, which may include bank transfer, UPI, debit card or other permitted means, from accounts in your own name or your business’s own name. Loading through credit cards or from third-party accounts may be restricted or refused. Cash loading, if allowed at all, is subject to strict limits.

Withdrawal. You may transfer your Balance back to your own verified bank account as the Wallet Terms allow (subject to KYC level, limits and any applicable fee). Funds committed to an escrow arrangement or a pending Linked Transaction cannot be withdrawn until released.

Payouts and refunds. Where you choose the Wallet as your payout or refund method on BARREL, amounts are sent to the Wallet when BARREL or the escrow arrangement releases them. If the Wallet cannot accept a credit (for example, because a limit would be exceeded or the Wallet is frozen), the amount is sent to your verified bank account instead, or held until the problem is resolved.

• Your Balance belongs to you. It is held by the Wallet Provider in an escrow or other account as the RBI rules for the Wallet Provider’s instrument require, and not by BARREL.
• The Balance is not a bank deposit, is not covered by deposit insurance unless the Wallet Terms say otherwise, and earns no interest.
• The Wallet is not a loan, overdraft or credit facility. You cannot spend more than your available Balance. Any credit or financing offered on BARREL’s platforms in future would be a separate product of a regulated lender, under separate terms.
• BARREL cannot debit your Wallet without your authorisation for each Linked Transaction, except a standing mandate that you have expressly approved (for example, a recurring BARREL OS subscription), which you may cancel at any time for future payments.
• BARREL has no lien or right of set-off over your Balance. BARREL’s rights to set off amounts due to it under its contracts apply only to payouts before they are sent to your Wallet.

The Wallet Provider’s fees (for example, for loading, withdrawal, conversion, remittance or inactivity) are set out in the Wallet Terms and shown before you confirm a transaction. BARREL may charge its own fee for certain Linked Transactions, such as a convenience fee; any such fee is shown before you confirm and is invoiced with GST under the Invoicing Policy. No fee is charged that was not shown before confirmation.

The Wallet is protected by the Wallet Provider’s security measures, which may include a Wallet PIN, one-time passwords, device binding (the Wallet works only on devices you have registered), biometric confirmation, transaction alerts by SMS or email and limits on new payees. On BARREL’s platforms, Linked Transactions also require you to be signed in to your BARREL Account, which uses one-time passwords sent by SMS or email.

You must:

• keep your PIN, OTPs, passwords and devices secret and secure, and never share them with anyone, including people claiming to be from BARREL or the Wallet Provider;
• keep your registered mobile number and email current, so that you receive alerts;
• use only the official BARREL websites under barrel.energy and the Wallet Provider’s official app or website;
• deregister a lost or sold device at once;
• in a business account, remove wallet permissions from staff who leave or change roles.

BARREL protects its platforms with encryption in transit, restricted staff access and activity logs, as described in the Privacy Policy. BARREL does not store your Wallet PIN.

Your liability for Unauthorised Transactions is decided by the Wallet Provider under the RBI framework on limiting customer liability that applies to its instrument, and its Wallet Terms. In broad terms, under that framework:

• you have zero liability where the loss arises from fraud, negligence or deficiency of the Wallet Provider, whether or not you report it;
• you have zero liability where the breach is neither your fault nor the Wallet Provider’s but lies elsewhere in the system, and you report it within the short period the framework sets after being told of the transaction;
• your liability is limited where you report later than that, within the further period the framework sets, and is decided by the Wallet Provider’s board-approved policy after that;
• you bear the loss up to the time of reporting where it was caused by your own negligence, such as sharing your PIN or OTP, and the Wallet Provider bears any loss after you report;
• the Wallet Provider must credit (shadow-reverse) the amount within the time the framework sets and resolve the complaint within the time limit it sets.

Where an Unauthorised Transaction was caused by a breach of BARREL’s own systems, BARREL will cooperate fully with the Wallet Provider and the authorities and will bear its share of responsibility as the law and its agreements with the Wallet Provider provide.

Wallet transactions. Disputes about a debit, credit, failed transaction, conversion or remittance through the Wallet are handled by the Wallet Provider, and the Wallet Terms and the RBI rules on turnaround time for failed transactions apply. BARREL will help by giving the Wallet Provider the Order, invoice and Linked Transaction details it holds.

Disputes about goods and services. If the problem is with what you bought (quality, delivery, quantity or a refund), raise it on the Order under the E-Commerce Policy and the Refund and Cancellation Policy. Refunds approved under those policies are paid back to the Wallet (or to your bank account where the Wallet cannot accept them).

Chargebacks. Where a loading of the Wallet by card or another instrument is charged back by your bank, the Wallet Provider may debit the charged-back amount from your Balance or recover it from you. Where a Linked Transaction to a seller is reversed, the seller must refund, and BARREL may recover the amount from the seller’s future payouts.

Payment in error. If money is credited to your Wallet in error (for example, a duplicate payout), you must not use it and must return it on request. BARREL may ask the Wallet Provider to reverse it, as the Wallet Terms allow.

The Wallet Provider and BARREL each screen users and transactions against sanctions lists and lists notified under the law in India (including lists under the Unlawful Activities (Prevention) Act 1967 and United Nations Security Council lists), and, as their policies require, other lists that apply to them or their partners. They monitor transactions for money laundering and terrorist financing under the Prevention of Money-laundering Act 2002 and the rules made under it.

The Wallet Provider may, and BARREL may ask it to, block, hold, reverse or report a transaction, or suspend, freeze or close a Wallet, where:

• KYC is incomplete, expired or doubtful;
• a transaction matches, or may match, a sanctioned person, country or activity;
• a transaction appears unusual, without an apparent economic purpose, or connected with fraud, false invoicing or money laundering;
• the law, a court, the RBI, the Financial Intelligence Unit, a tax authority or a law enforcement agency requires it;
• you breach this Policy, the Wallet Terms or the Terms of Use.

Where the law prohibits disclosure (for example, of a suspicious transaction report), neither BARREL nor the Wallet Provider will tell you the reason. BARREL may also suspend the Wallet option on your BARREL Account while a concern is investigated.

Dormancy. A Wallet without any financial transaction for the period set in the Wallet Terms (and the RBI framework) may be marked inactive. The Wallet Provider will notify you before that and will reactivate the Wallet after the checks it requires. Your Balance remains yours and is not forfeited because of inactivity; the Wallet Provider handles long-unclaimed balances as the RBI rules require.

Closure by you. You may close the Wallet at any time with the Wallet Provider. On closure, the Balance (less any amount lawfully due to the Wallet Provider and any amount held for a pending transaction or a lawful freeze) is refunded to your own verified bank account, in the way the Wallet Terms and RBI rules allow (for foreign currency balances, after conversion or remittance as FEMA permits).

Closure of your BARREL Account. If you close your BARREL Account or it is terminated, the Wallet is unlinked from it. The Wallet itself continues with the Wallet Provider unless you close it. Linked Transactions in progress are completed or reversed first.

Discontinuation. If BARREL or the Wallet Provider ends the integration, BARREL will give at least 30 days’ notice on its platforms where possible, will stop accepting new Linked Transactions and will help ensure pending payouts and refunds are completed. Your Balance remains with the Wallet Provider and can be withdrawn under the Wallet Terms.

You are responsible for your own taxes on income, receipts and transactions through the Wallet. The Wallet Provider and BARREL may be required to deduct or collect tax at source, report transactions to the tax authorities (for example, in statements of financial transactions or under GST law) and give information under the applicable provisions of the income-tax law, the GST law, FEMA and international tax information exchange rules. Payments for Orders remain subject to the TCS and TDS rules described in the Invoicing Policy.

You must give correct PAN, GSTIN and residential status information. Statements of Linked Transactions are available on your BARREL Account; Wallet statements are available from the Wallet Provider.

When you link the Wallet, and with your consent given at that time, BARREL and the Wallet Provider will share the data needed to operate the integration:

BARREL does not receive your KYC documents, Wallet PIN or full card or bank account numbers from the Wallet Provider, unless you separately give them to BARREL for another purpose. Each of BARREL and the Wallet Provider is responsible as data fiduciary for the data it processes for its own purposes, under the Digital Personal Data Protection Act 2023 and the DPDP Rules 2025 (to the extent in force), the Information Technology Act 2000 and the rules made under it, and RBI requirements on storage of payment data (which require payment data to be stored in India).

You may withdraw your consent by unlinking the Wallet. Data already shared for completed transactions will continue to be kept as the law requires. See the Privacy Policy for BARREL’s processing and the Wallet Provider’s privacy notice for its processing.

The Wallet, BARREL’s platforms, banks and payment networks may sometimes be unavailable because of maintenance, faults, cyber incidents or events outside anyone’s control. If a Linked Transaction fails or its status is unclear:

• do not pay again until the status is confirmed on the Order page or in the Wallet;
• failed debits are reversed by the Wallet Provider within the turnaround time set by the RBI, and compensation applies where the RBI rules provide it;
• BARREL will not treat an Order as unpaid, or apply late charges, for a delay caused only by an outage of the Wallet or BARREL’s platforms, provided you pay promptly by another available method when asked;
• you may use another payment method shown on the platform.

The Wallet is a service of the Wallet Provider. To the extent permitted by law, BARREL is not liable for the Wallet Provider’s acts or omissions, the availability or performance of the Wallet, KYC decisions, limits, exchange rates, the holding of balances, or the Wallet Provider’s insolvency or regulatory action against it.

BARREL is responsible for its own platform functions in the integration: correctly displaying information it receives, passing your instructions accurately and securing its own systems. To the extent permitted by law, BARREL is not liable for indirect or consequential loss, loss of profit or loss of opportunity, and its total liability to you in connection with the Wallet integration for any event or series of related events is limited to the amount of the Linked Transaction concerned, or, if no transaction is concerned, ₹10,000.

Nothing in this Policy limits liability for fraud, wilful misconduct, gross negligence, death or personal injury, any liability that cannot be limited by law, your rights under the RBI customer protection framework against the Wallet Provider, or a consumer’s rights under the Consumer Protection Act 2019.

• Give true and complete information for KYC, purpose codes, tax and payments.
• Use the Wallet only for lawful, genuine transactions with an underlying supply.
• Keep your credentials and devices secure and report problems promptly.
• Comply with FEMA, LRS, tax and sanctions rules that apply to you.
• Check each payment, amount, currency and payee before you confirm.

You indemnify BARREL against losses, penalties, claims and reasonable costs arising from false information you give, your misuse of the Wallet on BARREL’s platforms, or your breach of the law or of this Policy, except to the extent caused by BARREL’s own fault.

Neither BARREL nor you is liable for a delay or failure to perform caused by events beyond reasonable control, such as natural disasters, epidemics, war, terrorism, civil disturbance, government or regulatory action, failure of payment networks, banks or telecommunications, or large-scale cyber attacks, provided the affected party takes reasonable steps to limit the effect. This does not excuse an obligation to repay money already received.

BARREL may change this Policy, including before and at the launch of the Wallet, to reflect the Wallet Provider’s actual terms and licences, changes in the law or RBI directions, or changes in its services. The updated Policy will be published at /legal/wallet-policy with a new version and effective date. Material changes after launch will be notified to users with a linked Wallet at least 15 days in advance, except where an earlier change is required by law or for security. Changes to the Wallet Terms are made and notified by the Wallet Provider.

This Policy is governed by the laws of India. Subject to the grievance routes in the next clause, which you may use first and which are not affected, disputes between you and BARREL under this Policy are subject to the exclusive jurisdiction of the courts at Pune, Maharashtra. Where you are a business user, such disputes not settled within 30 days may be referred by either party to arbitration by a sole arbitrator, seat and venue Pune, in English, under the Arbitration and Conciliation Act 1996. Disputes with the Wallet Provider are governed by the Wallet Terms. Nothing here affects your rights before a consumer commission or under the RBI ombudsman scheme.

Grievance Officer: the person designated by BARREL from time to time, reachable at contact@barrel.energy (subject line 'Grievance') and +91 90755 77366, RH 11, Mayfair Eleganza - II, NIBM Road, Kondhwa Kh., Pune 411048, Maharashtra, India. Grievances are acknowledged within 24 hours and resolved within 15 days, or within any shorter time the law sets.

If you are unsure where to go, write to BARREL and it will forward your complaint to the Wallet Provider and tell you that it has done so.

Bharat Atom Renewable Resources Energy Limited, CIN U35100PN2024PLC230800, GSTIN 27AASCM0958L1ZQ, RH 11, Mayfair Eleganza - II, NIBM Road, Kondhwa Kh., Pune 411048, Maharashtra, India. Website www.barrel.energy.