Master Directions on Prepaid Payment Instruments (PPIs) (Updated as on November 12, 2021) Issued by RBI
Clause 13.3 : Non-bank PPI issuer cannot transfer the outstanding balance to its Profit & Loss account for at least three years from the expiry date of PPI. In case the PPI holder approaches the PPI issuer for refund of such amount, at any time after the expiry date of PPI, then the same shall be paid to the PPI holder in a bank account.
For More Details click on the below link:
https://rbi.org.in/scripts/NotificationUser.aspx?Id=12156&fn=9&Mode=0