Internet Banking – Terms and Conditions
General Terms:
1. Terms used here: defines ‘bank’, ‘Services’, ‘Customer’, ‘Internet Site’, ‘Information’, ‘Information provider’ and other terms as applicable.
2. Terms of service:
The Bank has the right to determine and vary from time to time without prior intimation, the scope and type of the services to be made available including,
Expanding, modifying or reducing the services at any time;
Imposing and varying any restrictions on the use of the Services such as minimum
and maximum daily limits for any transaction or any type of transactions that the
Customer may conduct by using the Services; and
Prescribing and changing the normal service hours during which the services are
available and any daily cut-off time for any type of services or transactions. Any
instruction of the customer received by the bank after any applicable daily cut-off
time shall be deemed to be received on the next business day.
3. Governing Terms and Conditions:
(a) The services provide an additional means for the customer to operate accounts, conduct transactions and obtain services, products, information and benefits from the bank as shall be made available from time to time.
(b) Transactions effected by using the services are subject to these terms and conditions, the bank’s general Disclaimer and Internet Privacy statement and all other terms and conditions applicable from time to time.
(c) Such statement and other terms and conditions shall apply as if they were expressly extended to the use of the Services. However, where there is any discrepancy, these terms and conditions shall prevail for the purposes of the services.
4. Governing Law and Jurisdiction
The services and these terms and conditions shall be governed by and construed in
accordance with the laws of India.
5. Service Registration and use
(a) To access the services for the first time, the customer is required to authenticate a prescribed format manually or in such other manner as the bank may specify.
(b) By registering to use the services, the customer warrants that all information provided by the customer to the bank in relation to the services are true, complete, relevant and up-to-date.
(c) The services are for the sole and exclusive use by the customer.
(d) Any service details and information provided by the Bank on the Internet Site(s) or otherwise in response to an online inquiry is for reference only and is not binding.
(e) The customer acknowledges that there may be a time lag in transmission of instructions, information or communication via the Internet for which bank shall not be held liable.
(f) Liability arising under this agreement shall be limited to direct, objectively measurable damages. Bank shall not have any liability to the other party or to any third party, for any incidental, punitive, indirect, exemplary, or consequential damages, loss of data, interruption of business, or costs of services, even if advised of the possibility of such damages, whether under theory of contract, tort (including negligence) strict liability or otherwise arising out of the services availed by the customers.
6. User Id and Password
(a) The customer shall follow the guidance provided by the bank online in designating the user identification (the ‘User Id’) and the password (the ‘Password’) for identifying the customer for the purposes of the services.
(b) The customer may change the Password at any time but any change shall be effective from the time application software accepts the same.
(c) The customer shall act in good faith, exercise diligence in keeping the user Id and the Password in secrecy. At no time and under no circumstances shall the customer disclose the same to any other person except under the compulsion of Law of the land.
(d) The customer shall be fully responsible for any accidental / negligent and/or unauthorized disclosure of the User id and/or the password to any other person and shall bear the risks of the misuse for unauthorized purposes.
7. Customer’s Instructions and validity
(a) The customer is required to quote the user id and the password in order to log-on to the services and transact online.
(b) All such instructions given, as understood and acted by the bank in good faith, shall be irrevocable and binding on the customer whether given by the customer or by any other person purporting to be the customer. The bank shall be under no duty to verify the identity or authority of the person giving any such instruction apart from verifying the user id and the password of the customer.
(c) Information relating to any account or transaction made available on the Internet Site(s) are for reference only. The bank’s records of such account and transaction shall be conclusive unless and until the contrary is established.
(d) The bank shall not be liable for any computer/cyber crimes such as hacking and shall not be liable for any unauthorized transactions and/or any transactions carried out by using illegal and fraudulent methods.
8. Customer’s undertakings and Responsibilities
(a) The customer shall provide such information as the bank may from time to time, reasonably request for the purposes of providing the services.
(b) The bank is automatically authorized to share the information with any other person/entity, including its third party agents as and when necessary.
(c) The customer shall not, and shall not attempt to convert, adapt, alter, modify, enhance, add to, delete or any way tamper with, or gain access to, any part of the services or any Internet site or any software comprised in them.
(d) The customer acknowledges that it is his/her responsibility to make independent verification of all information including reports provided as part of the service.
9. Fees
The bank reserves the right to charge fees in relation to the use and/or termination of the services and to revise such fees. Fees shall be collected from the customer in such manner and at such intervals as the bank may specify.
10. Liabilities of the Bank
(a) The bank will take reasonably practicable steps to ensure that its system in connection with the services are installed with adequate security designs and to control and manage the risks in operating the systems, taking into account relevant law, rules, regulations, guidelines, circulars, codes of conduct and prevailing market practices that are applicable to the bank from time to time.
(b) The customer shall indemnify the bank, any information provider against all liabilities, claims, demand, losses, damages, costs, charges and expenses of any
kind which may be brought by or against any of them in connection with the provision of the services, the information and/or the Reports or the exercise or preservation of the bank’s powers and rights under these terms and conditions, except in the cases of willful default of the bank, any information provider or their respective officers or employees.
11. Information and information Providers
(a) The customer acknowledges and agrees that the Information including the reports are the intellectual property rights, confidential / proprietary property of the bank and the respective information providers.
(b) The restriction on disclosure shall not apply to any confidential information: -
Where its disclosure is compelled by law ; or
Where the bank has expressly agreed in writing to its disclosure to the customer.
(c) An information provider may impose from time to time terms and conditions in relation to the availability of any information supplied by them.
(d) The information will be made available as it is supplied and will usually identify the information provider supplying it to the bank. The bank does not endorse or express any comment on any information supplied by any information provider nor assume any duty to check or verify any information.
12. Variation and Termination
(a) The bank may, at any time, without giving notice or reason suspend or terminate all or any of the services or their use by the customer.
(b) The customer may terminate the use of the services at any time by giving to the bank prior written notice of a reasonable period.
13. Amendments
The bank may revise these terms and conditions and/or introduce additional terms and conditions from time to time. Any revision and/or addition to these terms and conditions shall become effective subject to the bank’s notice that may be given to the customer by posting it on the Internet Site(s) or by display, advertisement or other means as the bank thinks fit.
14. Communication
The bank shall be entitled to prescribe, from time to time, the form of notice (whether written or any other form) and the mode of communication with respect to each type of notice to be given pursuant to these terms and conditions.
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