[Resolved] Beam Simple Money Service Suvidha Starnet Pvt Ltd — BEAM Fraud business not approved by RBI

32 Reviews
 Manoj kumar2009
No. 22 of 2005
RBI APPROVED PAYMENT SYSTEM: BEAM-Suvidha holds the Certificate of Authorization, issued by the Reserve Bank of India (RBI) under the Payment and Settlement Systems Act, 2007 this is written at the bottom of the webpage . This mobile transcation SIMPLE MONEY SERVICE had not been approved by RBI and http://www.beam.co.in is not legitimate website .

BEAM Fraud business not approved by RBI
Complaint marked as Resolved 
Beam Money Customer Care's response, Oct 27, 2015
To enable us resolve your problem expeditiously, kindly indicate your full name, mobile number and email ID.

Beaming warm regards,
Beam Digital Support Team
Complaint comments  31 Comments     Updated: Share0Tweet0Share0


varieties — suvidhaa services not funtioning

ERROR:Error in suvidhaa services unable to funtion from 12.05.09 ofternoon 2.00pm request to clear tha error immedidly
I had enquired about it this is OPEN FRAUD Money rotation is not legal in India
fraud scam http://www.beam.co.in
Mr.Anand Srivastava CMD beam had done fruad before also
Beam simple money service is fooling and making distributors, merchants & franchises across country
they are aiming innocent peoples accross country .
Somebody who have the knowledge of payment gateway can assure you well as the first misleading thing is that they do not have REFUND command or syntax in there system this is becayse they hav'nt got full permission to use the system by RBI.

Simple example you have the learning driving licence or like you have taken stay on some case from high court but still working and one day you will be GONN... remember SATYAM

AND DON'T GO FOR WHAT THEY SAY ' RBI APPROVED PAYMENT SYSTEM: BEAM-Suvidha holds the Certificate of Authorization, issued by the Reserve Bank of India (RBI) under the Payment and Settlement Systems Act, 2007'

Beam is fraud they can't able to reacharge my reliance cell phone i called there customer care on[protected] phone no. stated on there website they told me that i have to be a Beam Subscribers i then registered my number then they told me to buy shopping card for Rs 100 i did the same but it did'nt work at all i again called them the answer i got is that they have reliance life insurance service in there panel but i can't recharge my reliance cell phone as reliance tele comm is still have to come till then i have to keep that card with me as it won't work and sorry for the inconvience caused SO NOW WHAT SHOULD I DO ?
I challange BEAM http://www.beam.co.in to show me the authorization letter issued by beam and details about the clauses issued by RBI India, i will take my complain back from RBI which is launched on 01/03/10 but none of the employee can come up in confidence as they themself don't know "BEAM IS FRAUD"

Beam is a world class mobile transaction service using which customers can do variety of micro payments bought to you by Suvidha.
Recharge Telecom
Become A Beamer Contact Us
Pay Bills
More results from beam.co.in
While on one side BEAM company ' Suvidha Starnet Pvt Ltd ' is declaring on the front bottom page of there website " Beam does not offer money transfer services " and on the other hand if you check the URL
that is been rated 5 stars & i will also post that artical here might be company have banned or blocked that URL but i have the screen shot of that artical posted.

Suvidha: Launching the Beam Card
2 Jun 2008, Jedidi, K. & Zemborain, M.
Average Rating: (5 rating)
see all ratings and reviews

Streamlining money transfers for unbanked consumers

This paper describes Suvidha’s strategy to market the Beam Card, a mobile phone transaction service that allows consumers to send and receive cash, and make payments using text messaging.

A Suvidha study revealed that Indian consumers desired to transfer money to friends and relatives but relied on inefficient, costly and unsecured modes of money transfer. Given the low penetration of banking coupled with high mobile phone usage, a product like Beam could fill this need gap.

Although Beam shared some characteristics with other payment service, Suvidha had to educate customers about its unique features. Its strategy to launch Beam included the following steps:

Defining target audience, namely, the emerging middle class that aspired western-style convenience;
Examining competition such as existing modes of payment and services provided by banks and telecom companies;
Developing a distribution strategy with a wide network of retailers and franchisees;
Fortifying main distribution channels through strategic partnerships with banks, MFIs and post offices;
Deciding Beam's pricing and examining revenue sources;
Generating brand awareness by detailing Beam’s unique features;
Understanding media promotion options.


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02 Jan 2010

Q Are entities operating a payment system or intending to operate a payment system required to get a license, approval or authorization for the purpose?

Ans. In terms of Section 4 of the PSS Act, 2007 no person other than the Reserve Bank can operate or commence a payment system unless authorized by the Reserve Bank. Any person desirous of commencing or operating a payment system needs to apply for authorization under the PSS Act, 2007(Section 5).

The application for authorization has to be made as per Form A under Regulation 3(2) of the Payment and Settlement Systems Regulations, 2008. The application is required to be duly filled up and submitted with the stipulated documents to the Reserve Bank.

All entities operating payment systems or desirous of setting up such systems are required to apply for authorization under the Act. Any unauthorized operation of a payment system would be an offence under the PSS Act, 2007 and accordingly liable for penal action under that Act.

Q. What are the factors which the Reserve Bank will consider while deciding on an application submitted for authorization?

Ans. The Reserve Bank will consider factors like the need for the proposed payment system, the technical standards and design of proposed system, the security procedures and terms and conditions of operation of the proposed system, the procedure for netting of payment instructions, risk management processes, financial status of the applicant, experience of management and integrity of applicant, consumer interests, monetary and credit policies and other relevant factors while deciding on an application for authorization for commencing or operating a payment system (Section 7 of PSS Act, 2007).

The Reserve Bank will endeavour to dispose of all applications received for authorization within six months from the date of their receipt.

Q. Can the Reserve Bank revoke authorization granted under the PSS Act 2007?

Yes, the Reserve Bank is empowered to revoke the authorization granted by it, if the system provider contravenes any provisions of the Act or Regulations, fails to comply with its orders/ directions or violates the terms and conditions under which the authorization was granted to it (Section 8 of PSS Act 2007).
Dear Friends this link URL below will tell you what the beam as 'suvidha starnet pvt ltd' is upto


27. Suvidha Starnet Private Limited

The Chairman&
Managing Director,
Suvidha Starnet Private Limited,
D-128-129, 402
Terrace floor, Okhla Industrial
Area, Phase-I,
New Delhi-110 020

Issuance of pre-paid payment instruments known as 'BEAM-Suvidha'
(One Year)
Contact us AlertFriday, March 03 wed, 2010 2:13:46 AMFrom:
To: "" <nefthelpdeskncc@rbi.org.in>
Payment Systems(Related to NEFT/ECS/EFT)

Vikas Tomar

My complain is against Suvidha Starnet Pvt Ltd brand name beam website http://www.beam.co.in violating RBI laws under the Payment and Settlement Systems Act, 2007 I have got proof and evidence for this case, required hard copy will be sent to the authority via fax Streamlining money transfers for unbanked consumers, Beam Card, a mobile phone transaction service that allows consumers to send and receive cash, and make payments using text messaging.

RBI WebMaster
Beam.co.in went into Liquidity

Beam suvidha is fraud company beware friends don't invest

“Liquidity is the ability of a firm to meet debts when they become due, ”
these company cont pay salary to employs also
every company will pay salary b4 5th only
these company will pay on 10th,
TA & DA bills will pay on 15th, ,
please dont cheating people...
iam the old employ of u r compamy iam going to log a complaint in labour court, , , ,
suvidha all systam is farji not managment in suvidha starnet pvt ltd jitender ojha
Friends, I had paid a visit to your company, I met 3 brand ambassadors of the company: Mr. Ajay (who thinks he is the RBI governor, I pitty on his ability to be a manager and have not seen any insane and arrogant Hari Sadu kind of character), two the security guard at the reception (asked me 3 times to vacate the conference room I was sitting) and the HR lady named swagatika (she never would pick your call, when you are called by her to arrange for a meeting with the promoter-who are bit shady) and hear this: Toilets are separate for management and staff with a big plate on the toilet, mobile phones are deposited on the ground floor with the security guys drawer, what would you expect from this company friends...you cant risk your money, dont buy any product through them, they are not trustworthy
i had done the payment but recharge was not sucessful...
please do something
I got a interview in Beam Money . I visit the website but i am not get all the details. Can some existing or ex employee tell me more about the company . Who is the promoter of the company? what is the turnover of this company? is this company employee freindly? what is the future of this company and industry
Beam suvida private limited company employ territory sales team such as Rsm Asm Tsm Distributor approach me and introduce about company that the company provides complete all E SEVA
(Andhra Pradesh Government undertaking origination of combine services)
like services. & collected my Document id Proofs & photographs with Rs 1500 in the form of cash this staff they made DD and forwarded the amount to Delhi and provided me with a password with this i can do the following services such as electcity, water, post paid telecom bills, movie tickets, train tickets, flight tickets, mobile & Dth Recharges, cab /taxi/ bus ticket etc, under one shop

As per the company guidelines we can do following services both from sms & web site
(www.beam.co.in) using our phone number and password (which company call as spin)
But I can’t able to do nothing just one service some telecom Operators Recharges that too top irregular basis on & off time services, or we loose our balances but customer never get balance, or double recharge done on one single traction, this type of hundreds of complaints which we have already registered with distributers, regional staff, customer care, president business head & we never got any Response till today, company president (Mr Ajay ) visited my premises & some franchises in the month of may 20011 & promise to solve the said all complaints & to open local zonal office in a month. by today over two months already over & 8 months of my franchise period gone by doing nothing

Beam’s all staff removed by the company in Hyderabad later we came to know that beam collected 1500 to 50000 amount from over different shops in the form of franchise & distribution on showing a big dreams to innocents shop keepers business seekers etc ..,

I request the government to put a full stop on the company like BEAM SUVIDA which goes on collecting amount & providing nothing in the name of RBI APPROVAL certification going on fooling people in the name of big business offers & ask the company to refund the total collected amount as soon as possible
This will be the big scam amount for huge collected from poor people if company (BEAM )show at least one franchise or distributor who earn at lest Rs 1 .in this 9 months then I will give reward to that person according to the sale of that day


the company have to compensate us for loosing our time energy & investment

sheik ismail ali
.It is a small family run business and scope of growth is non existant. Typical lala company with no corporate culture. Dont join this company even if u dont have a job in hand, much better to wait for a better oppurtunity even if it means staying at home for a couple of months.
who owns this company? is he aware of all this complaints? so many complaints and curses . All the company who want to do well and grow gain good wishes and not curses. service issue relate complaint can be handled by each and can resolved. But by cheating people no company can ever grow. .Baddua lagti hai
The Company is registered since November 2009. http://www.rbi.org.in/scripts/PublicationsView.aspx?id=12043

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    Enterprise D 128-129, Okhla Industrial Area, Phase I, New Delhi, Delhi, India - 110020
    Beam Simple Money Service Suvidha Starnet Pvt Ltd - BEAM Fraud business not approved by RBI