Terms & Conditions

Most Important Terms and Conditions (MITC) of Airtel Payments Bank Current Account

1.     Introduction

These Terms and Conditions (“Terms”) govern the Current Bank Account (“Current Account”) offered by Airtel Payments Bank Limited (“Bank”) to its customers (“Customer” or “You”). By opening or continuing to maintain a Current Account, you acknowledge that you have read, understood, and agreed to be bound by these Terms, as amended from time to time. These Terms are designed to ensure clarity and transparency while maintaining legal enforceability in accordance with applicable laws and RBI guidelines.

2.     Key Features

·         As per RBI guidelines, presently, the maximum end-of-day balance in the Account shall not exceed ₹2,00,000/-. Accordingly the Bank has imposed an internal limit of ₹1,92,000/- (for Customers, who do not have a Sweep Account) and ₹1,97,000/- (for Customers, who have opened a Sweep Account), maximum limit for end-of-day balance in the Current Account.

·         KYC compliance is mandatory. Non-compliance may lead to suspension or closure.

·         Dormant accounts: no debit/credit (other than interest) for 2 years may render the account inoperative.

3.     Account Opening and Operation

·         The Account may be opened digitally or through authorized agents upon completion of KYC formalities as prescribed under applicable law.

·         The Bank reserves the right to verify information provided and may decline an application without assigning reasons.

·         Only one type of Bank Account may be maintained per Customer, except PPIs for Mass Transit System (PPI-MTS).

·         The Customer agrees to operate the Account in compliance with the Bank’s policies and applicable regulations.

4.     KYC and Customer Obligations

·         The Customer shall provide valid identity and address proof documents as required under KYC guidelines.

·         The Customer shall promptly update the Bank in case of any change in address, contact number, or any other details provided at the time of KYC.

·         The Customer must maintain confidentiality of credentials, including mPINs, passwords, and OTPs.

·         The Customer shall not use the Current Account for any unlawful or prohibited purpose, including money laundering or fraudulent transactions.

5.     Contact Information

Call Center: For Airtel telecom customers: 400; For Other operators: 8800688006 (Standard calling rates may apply). Customer Call Center / IVR will be available in Hindi, English and other Major regional languages. Email: wecare@airtelbank.com Website: https://www.airtelpayments.bank.in/ Principal Nodal Officer (PNO) contact no: 01244247797. Email: pno@airtelbank.com

6.     Sweep Account facility

As per RBI guidelines applicable for payments banks, the end of the day Account balance cannot exceed INR 2,00,000. However, basis the Customer consent, Bank may open an account with Suryoday Small Finance Bank (“SSFB”), in accordance with the Applicable Laws and sweep out the excess balance to the SSFB Sweep out Current Account (“SSFB Sweep Account”).

7.     Suspension, Freeze, and Closure

·       The Bank may suspend or close the Current Account, fully or partially, under the following circumstances:

-        Regulatory or court orders

-        Suspicious or irregular transactions

-        KYC deficiencies or non-compliance

-        Customer request for closure

·       The Customer may close the Account after clearing all dues to the Bank.

8.     Grievance Redressal

In case the Customer has any complaint relating to the features of any of the Bank services that the Customer holds and/or avails of, Customer can approach the Grievance Redressal Cell within the Bank at grievance.officer@airtelbank.com for a resolution and if he/she does not get a satisfactory response within 30 days of lodging the complaint, then, under the Banking Ombudsman Scheme 2006, such Customer can approach the Ombudsman appointed by the RBI, in charge of the region where he/she has an Account, details of which are available at www.bankingombudsman.rbi.org.in. The contact details of PNO are mentioned in serial no. 3 above.

9.     Current Account charges

For details of applicable charges please visit https://www.airtelpayments.bank.in/bank-charges/current-account

Disclaimer: The Most Important Terms and Conditions (MITC) provided above are for ease of reference only. Customers are advised to carefully read the detailed Terms and Conditions (T&C) available below, to fully understand the rights, obligations, and features of the Current Account. Please note that in case of any discrepancy or contradiction between the MITC and the detailed T&C, the provisions of the detailed T&C shall prevail and be binding.

General Terms and Conditions

This document outlines the General Terms and Conditions (“General Terms”) applicable to Current Accounts. These should be read in conjunction with any specific terms and conditions relevant to the particular product or account.

By opening or using a Current Account or availing any banking services, the Customer (as defined below) agrees to be bound by these General Terms. These terms may be read independently or together with other applicable documents, terms, or conditions related to a specific account, service, transaction, or circumstance. The Customer acknowledges that the Bank may, at its sole discretion, modify or amend these General Terms from time to time. Such changes will be published on the Bank’s website at https://www.airtelpayments.bank.in/ or communicated to the Customer via physical or electronic means, including SMS or email. Continued use of the Bank’s services constitutes acceptance of the updated General Terms. The Customer is responsible for staying informed by regularly reviewing the Bank’s website and any notices or communications issued.

The Customer further agrees that the opening and maintenance of the Current Account and use of banking services are subject to rules and regulations introduced or amended by the Reserve Bank of India (“RBI”) or any other regulatory authority from time to time. If any provision of these General Terms is found to violate applicable law or is deemed unenforceable by a competent court, such provision shall be enforced to the maximum extent permissible to reflect the intent of these General Terms, and the remaining provisions shall remain in full effect.

The Customer understands and agrees that the Bank reserves the right, at its sole discretion, to accept or reject any application for opening or maintaining a Current Account or availing banking products/services. The Bank’s decision in this regard shall be final. The Customer further agrees that the operation of the account and related services will be governed by the Bank’s policies, procedures, and standards, and undertakes to execute all required documents, provide accurate information, and comply with all requirements communicated by the Bank. The Customer confirms that all information provided is true and correct and agrees not to engage in impersonation or any fraudulent or unlawful activity.

Any amendments to these General Terms shall form an integral part of them and, in case of any conflict, the amended provisions shall prevail. These General Terms are subject to notifications and guidelines issued by the RBI from time to time.

DEFINITIONS:

a.      “Applicable Laws” means and includes any or all statutes, laws, rules, regulations, directives or guidelines, judgment, order, decree, clearance, approval, directive, guideline, code, standard, manual, policy, requirement, or other government restriction or any similar form of decision, or determination by, or any interpretation or administration of any of the foregoing by, any Government Authority including the Payment and Settlement Systems Act 2007, Aadhaar (Targeted Delivery of Financial and other Subsidies, Benefits and Services) Act, 2016, Prevention of Money Laundering Act, 2002 (“PMLA”), master circular of KYC by RBI and related rules and regulations, as may be amended or modified from time to time;

b.     “Application Form” or “Proposal Form” or “Enrollment Form” shall mean the form (includes both physical and digital) that is required to be completely filled in with relevant details by the Customer along with necessary supporting documents, as required by the Bank for opening of Account through any of the options as mentioned above and /or for continuous usage of the Account;

c.       “Airtel Payments Bank” or “Bank” is a company incorporated under the Companies Act, 1956 with its registered office at Bharti Crescent, 1, Nelson Mandela Road, Vasant Kunj, Phase II, New Delhi - 110070, India and corporate office at Airtel Centre Gurgaon, Plot No.16, Udyog Vihar, Phase –IV, Gurgaon - 122015, Haryana,, including its successors in business and permitted assigns;

d.     “Banking Points” shall mean and include business correspondent agents or BC Agents as designated under Applicable Laws;

e.      “Charge(s)” or “Service Charge” shall mean the charges which the Bank may levy upon the Customer in consideration for subscribing to the current account and availing the bank services;

f.      “Customer”, “I”, “we”, “me”, “my”, “our” or “us” means an individual  having the Current Account availing the banking services and has accepted all applicable terms and conditions of the Bank for Current Account.

g.     “Customer ID”/ “Mobile number” shall be the ten-digit mobile phone number of the Customer to be used for Account login;

h.     “Force Majeure Event" means any event due to any cause beyond the reasonable control of the Bank, including without limitations, unavailability of any communication systems, breach, or virus in the processes or payment or delivery mechanism, sabotage, fire, flood, explosion, acts of god, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer data and storage devices, computer crashes, malfunctioning in the computer terminal or the systems getting affected by any malicious, destructive or corrupting code or program, mechanical or technical errors/failures or power shut down, faults or failures in telecommunication etc.;

i.       “Government Authority” shall mean any national or local governmental department, ministry, board,  regulatory authority, tribunal, agency, instrumentality or entity directly or indirectly under control of any central, state, provincial or local government, court or other judicial, quasi-judicial or administrative body, having jurisdiction over the matter or matters in question and includes Reserve Bank of India (“RBI”) or National Payments Corporation of India (“NPCI”), Unique Identification Authority of India (UIDAI), etc.;

j.       “Instruction(s)” means any request or instruction that is received from the Customer by the Bank through any channel;

k.     “Injury" means accidental physical bodily harm excluding illness or disease solely and directly caused by external, violent and visible and evident means which is verified and certified by a medical practitioner;

l.       “KYC” stands for Know Your Customer and refers to the various norms, rules, laws and statutes issued by RBI from time to time under which Bank is required to procure personal identification details and proof of address documents from the Customer as may be required from time to time for availing and / or continuation of the Bank services;

m.    “mPIN” or “Password” shall mean the 4 digit secret numeric password used to secure Account, without knowledge of which the Account may not be operable;

n.     “SMS Password” or “One Time Password (OTP)” refers to one time number of digits pass code or number of digits that would be sent to a Customer’s mobile number registered by the Bank valid only for a single transaction to authenticate the particular banking transaction / identity of the Customer;

o.     “Video based Customer Identification Process (V-CIP)” is a method of Customer identification by the Bank by undertaking seamless, secure, real-time, consent based audio-visual interaction with the Customer to obtain identification information including the documents required for Customer Due Diligence purpose, and to ascertain the veracity of the information furnished by the Customer; and

p.     “Website” or “Site” refers to the website owned, established and maintained by Bank at the URL https://www.airtelpayments.bank.in/

INTERPRETATION:

a.      All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".

b.     Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force or as amended from time to time.

c.      Terms used but not defined will derive their meaning from Applicable Laws;

d.     All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms & Conditions.

e.      Reference to masculine shall include the feminine and third gender. 

RECOVERY IN CASE OF EXTRANEOUS CREDIT:

Customer shall be liable to pay all Charges, fees, interest, late fee, return charges, any other costs wherever applicable and communicated to the Customer, which Bank may levy with respect to his account or any transaction or services rendered and the same may be recovered by Bank by making a debit from his account. By availing the banking services, the Customer acknowledges that charges, fees, etc. are reasonable and consents to the quantum thereof. It is further agreed and acknowledged that in case of non-availability of adequate funds in Customer's Current Account, the Customer authorizes the Bank to recover the Charges by debiting the account over a period of time from any future credits, till the entire amount is recovered.

NOMINATION AND DEATH OF THE CUSTOMER:      

a.      The Customer may, by filing in necessary particulars in the prescribed format at the time of opening of Current Account, nominate a person who, in the event of death of the account holder shall become entitled to receive the deposit and the payment thereon.

b.     If such nomination is not made at the time of opening the Current Account, it may be made by the Customer at any time, by means of an application in the prescribed format wherever prescribed, to the Bank. Should the Customer not like to avail nomination facility, he/she shall provide a specific declaration for not availing the nomination facility.

c.      In the event of death of the Accountholder in respect of which a nomination is in force, the Nominee shall be entitled for release of the deposits in his favour. For the aforesaid purpose, the surviving Nominee shall make an application to the Bank, supported by proof of death of the accountholder, Proof of Identity & Address of Account holder and Proof of identity & address of Nominee and such other detail/documents as may be required by the Bank on case to case basis. Payment to the Nominee will however be made on satisfactory completion of the formalities as laid down or modified/amended from time to time by the Bank.

d.     In case where the deceased depositor had not made any nomination or in the absence/incorrect details of Nominee the release of deposits in the account will be paid to Legal Heir on submission of proofs as may be required by the Bank. This policy is available on the bank's website under the section "Policies".

e.      Customer can nominate one individual for the purpose. Customer is at liberty to change the Nominee at any time on request to Bank.

COMPROMISE OF ACCOUNT:

Customers are not supposed to share their personal information or credentials with anyone including his/her PIN or other security information with anyone in any manner whatsoever. Customer should contact the Bank immediately by raising a request (verbally / through e-mail) through “Contact Us” section or by visiting/writing the nearest office of the Bank if he/she believes that his/her account is compromised, or if someone else knows his/her PIN or other security information. Customer can also reach out to Bank as per Clause 5 or 8 above.

Customer must report the misuse of his/her current account to the concerned Law Enforcement Agency (LEA) and lodge a First Information Report ("FIR"). Customer will not be liable for any compromise or misuse of account after he/she has informed the Bank of the compromise and has received an acknowledgement from the Bank to that effect, unless he/she has acted with gross negligence or malicious intent or shared his credentials with anyone. Customer shall be liable for all losses for any misuse that has happened with his/her consent or knowledge.

REVERSAL OF ENTRIES

Bank reserves the right and the Customer hereby authorizes the Bank to reverse any entries erroneously/extraneously passed by the Bank or Bank’s Customer or any third party, with or without notice to/from the Customer and/or to debit/credit the account, of whatever nature to the extent required to correct any erroneously/extraneous entries that may have been inadvertently made by the Bank.

DECLARATION BY THE BANK

Bank shall not be responsible for any acts or omissions of any third party / its partners / service providers including its merchants, cash management partners and Business Correspondents etc. and the same shall be governed by the terms and conditions entered into by the Bank with such third party / its partners / service providers and as per terms of Applicable Laws.

All transactions initiated by the Customer are instantaneous in nature and cannot be reversed/cancelled/stopped once initiated either through mobile or internet banking. Bank shall not be held liable for not honoring such request to reverse/cancel/stop.

The Bank shall remain fully responsible to the Customer for any acts or omissions, by its authorized Business Correspondents (BCs) engaged in providing banking services on behalf of the Bank and such acts or omission be deemed to be that of the Bank.

RIGHT OF BANK TO SUSPEND/ FREEZE/ TERMINATE AND CLOSE

a)     Bank has the right to suspend, freeze or apply lien or discontinue its product / services, with or without notice/intimation (including on Sweep Account linked thereto) if it is suspected that operations in a Customer’s account are being carried out in disproportion to his/her profile and/or source of funds are not known to the Bank or fraud is reported to the Bank by other banks / LEA / Government Authority until further order / instruction to remove the freeze is received by the Bank. In the given circumstances, Bank shall apply freeze/put the account on hold for such period as it may deemed fit until the Bank has received to its satisfaction that the necessary documentation and clarifications as sought by the Bank from the Customer are provided or upon further instruction / mandate from the concerned LEA / bank / authority, as the case may be on whose instruction the freeze was applied. In case no further instruction is given to the Bank, the Customer shall approach the concerned LEA/bank/authority for obtaining further directions.

b)     Notwithstanding anything contained elsewhere, the Bank reserves the right to freeze /apply lien /suspend/discontinue its products/services to the Customer and/or close the account and/or to refuse or delay processing of transactions initiated by the Customer, at any time, for any cause, including, but not limited, to the following:

                             i.     For any suspected violation / non-compliance of the Applicable Laws

                            ii.     To combat potential / actual fraud, malafide, mischief, impersonation, phishing, hacking, unauthorized access, sabotage, willful destruction, money laundering activities, threat to national security, for any other force majeure reasons etc;

                          iii.     If the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons.

                           iv.     If the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;

                            v.     If the mobile connection with which the Customer's Bank product/service is related ceases to be operational or in the Customer's possession or control.

                           vi.     If the Customer indulges in any abusive or aggressive or threatening behavior or any act or any intimidation or harassment of any kind (be it verbal or physical or written) against any employee / representative / agent of Bank.

                         vii.     Garnishee order, attachment order by competent court of jurisdiction and competent Government Authority and Quasi-Judicial bodies, death of the Customer, or the Customer is declared incompetent or insolvent by a court.

                        viii.     high occurrences of dishonored payments from Customer’s Account

                           ix.     If Bank believes, in its reasonable opinion, that cessation/ suspension is necessary.

GENERAL COVENANTS

Notwithstanding anything, once Bank allots an account number to a Customer it is not subject to change in any case including a Customer availing mobile number portability services or changing his mobile number and the same shall not be reassigned /transferred to any third person.

Current Account are covered under the insurance scheme offered by Deposit Insurance and Credit Guarantee Corporation of India (“DICGC”) subject to certain limits and conditions. For further details on the deposit insurance provided by DICGC, please visit - www.dicgc.org.in.

For further details on Code of Banks Commitment to customers, please visit - http://www.bcsbi.org.in/CBCC_Introduction.html

The primary mobile number provided by the Customer will be used as the registered mobile number for all banking services (mobile banking, one time passwords, alerts, etc.) and for all communications related thereto. 

In the event of any dispute, the Bank’s records shall be taken as the conclusive evidence of the transactions carried out through use of its services.

The Bank may publish notices of general nature which are applicable to the Customers on its Website or on its application, or on the Customer's email address or in any other mode as may be decided by Bank. Such notices would have the same effect as a notice served individually to each Customer.

The Bank shall send all Customer communications by SMS and the SMS shall be deemed to have been received by the Customer after they have been submitted for delivery to the mobile phone operator. The Bank, at its own discretion, may also contact the Customer, for all purposes necessary for providing & improving its services and suggesting any additional services.

The Bank will in no way be held responsible or liable for any delay, failure and/or untimely delivery/fulfillment of any services provided by any third party service providers including telecom service providers due to but not limited to network congestions, network failure, systems failure or any other reasons beyond the reasonable control of the Bank or its service provider(s) resulting into failure or delay of Bank Services.

The Account opening formalities are governed by the policies of Bank and may be revised from time to time and may require Customer/s to submit duly filled application form/s along with Officially Valid Documents as stipulated under Applicable Laws

Any transactions undertaken from this Account shall be in compliance of all the FEMA rules, regulations or notifications thereunder.

After the opening of Account, in compliance with the extant Applicable Laws, Customer agrees to submit the KYC documents again at periodic intervals, as may be required by the Bank. Bank will not be responsible or liable for any violation by the Customer of Applicable Law. Customer hereby declares that Customer name does not, at any time, appear in the consolidated list of terrorist Individuals/ organizations as circulated by the Government Authorities from time to time.

Debit Card shall be the card issued by Bank to its Customers for transactions for Bank Current Account or any other mode as intimated by Bank from time to time. The request for opening of Current bank account will also be taken as Customer request for debit card issuance and PAN/Form 60 filled by the Customer for Bank Current Account will also be applicable for debit card issuance.

CONFIDENTIALITY

The Bank will maintain confidentiality of the Customer transactions and information, in accordance with the applicable law and its internal policies.

The Bank will on best effort basis ensure that Customer transactions and information remain secure and confidential in accordance with the IT security policies and/or privacy policies of the Bank.

INDEMNITY:

Customer agrees to indemnify, defend and hold the Bank, affiliates, group companies, and other Customers of the Bank harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including and without limitation legal fees and expenses, arising out of or related to the (i) use or misuse of the Bank services hereunder (ii) any violation or non-compliance of these Terms and Conditions, (iii) any breach of the representations, warranties, and covenants, (iv) due to any negligence/mistake/misconduct on Customers' part.

If at any time it is found that the Customer has engaged or is engaging in any act or omission to defraud the Bank, its affiliates, users or otherwise engages in unlawful, fraudulent, suspicious or other activities which suggest malafide intent of the Customer, whether to avail benefits of any offer, cashback, reward or incentive given by the Bank or otherwise, and/or which activities are detrimental to the Bank’s interest, the Bank reserves its right to claw-back or recover the benefits of such offer, with or without intimation to the Customer, at Bank’s sole discretion, by debiting the Account. This right is in addition to any other right or legal recourse that the Bank may have under Applicable Laws.

Customer hereby acknowledge that when Bank acts on any notice, demand or other communication sent by email by Customer or your authorized representative, or via other forms of electronic or data transmission, Bank, acting upon such instruction so received shall not be responsible or liable in the event such notice demand or other communication is not an authorized or authentic notice, demand or other communication or is not in the form you or your authorized representative sent or intended to send (whether due to fraud, distortion or otherwise). Customer hereby indemnify and agree to keep Bank indemnified against any loss, liability, claim, suit, threat of suit or expense (including legal fees and expenses) that Bank may incur with its acting in accordance with any such notice, demand or other communication sent through email or other form of electronic or data transmission. This clause shall survive the termination of your banking relationship with Bank.

Without prejudice to anything contained herein, Bank shall not be liable to Customer or any third person for any delays, loss of business, profit, revenue or goodwill, anticipated gains (included opportunity loss), damages, fees costs, expense, etc. or for any indirect or consequential loss, howsoever arising, on the Bank Account being unavailable/usage of the Bank services or otherwise.

LIMITATION OF LIABILITY:

Notwithstanding anything to the contrary and subject to specific limitations provided for the specific product, Bank shall in no event be liable to the Customer or any other person for:

a.      Any indirect, incidental, special, consequential, punitive or economic loss, expense or damage arising from or in connection with any access, use or the inability to access or use Bank’s products/services and data/content or reliance on those or Account of the Bank, howsoever caused and regardless of the form of action (including tort or strict liability);

b.     any downtime costs, loss of revenue or business opportunities, loss of profit, loss of anticipated savings or business, loss of data, loss of goodwill or loss of value of any equipment including software;

c.      any loss or damage arising as a result of improper usage or malfunction of any computer or mobile phone or other telecommunications equipment used to access Bank's products/services or incompatibility thereof with our systems;

d.     Additionally, Bank shall be under no liability for any damage, loss or expense, or for any obligation to pay or reimburse interest for unsuccessful crediting or debiting of money through the use of Bank's products/services, unless the same is directly attributable to willful default or gross negligence on the part of Bank;

e.      Customer being deprived of the use of the App/website as a consequence of any act or omission by the Bank or any reason including but not limited to compliance with any Applicable laws and/or regulations and any instructions and/or directions given by any local or foreign regulatory body, government agency, statutory board, ministry, departments or other government bodies and/or its officials.

WARRANTY

No warranty of any kind, implied, express or statutory, including but not limited to the warranties of non-infringement of third party rights, title, merchantability, satisfactory quality or fitness for a particular purpose, is given in conjunction with Bank's products/services or any data/content. While Bank may apply such technology as it deems fit to ensure the security of and prevent unauthorized access to its products/services, Bank does not warrant that products/services or any content/data will be provided uninterrupted or free from errors or that any identified defect will be immediately corrected. Further, no warranty is given that products/services or any data/content are free from any computer virus or other malicious, destructive or corrupting code, agent, program or macros. Bank provides the products/services on an "as is", "where is", "with all faults" basis. 

Customer acknowledges that he/she has not solely relied on any representation/warranty made by the Bank, service providers, subcontractors or agents and has made independent assessment of Bank's products/services. It is Customer’s responsibility to evaluate the accuracy, completeness and usefulness of all opinions, advice, services, merchandise and other information provided through the platform or on the Internet generally. Except for Bank's service providers, subcontractors and agents, no person or entity who is not a party to these terms will have any right to enforce these terms, regardless of whether such person or entity has been identified by name, as a member of a class or as answering a particular description. For the avoidance of doubt, this will not affect the rights of any permitted assignee or transferee of these Terms.

The Customer also understands and acknowledges that there may be downtime, network congestion, outages, scheduled maintenance, or such other events beyond the reasonable control of Bank and Bank shall not be responsible for the same.

Customer acknowledge and agree that Bank has offered its products and services, set its prices, and entered into this General Terms in reliance upon the warranty disclaimers and the limitations of liability set forth herein, that the warranty disclaimers and the limitations of liability set forth herein reflect a reasonable and fair allocation of risk between the Customer and Bank.

All transactions initiated by the Customer are processed in real- time and that the Customer hereby agrees and confirms that the said transactions cannot be reversed /cancelled and stopped once initiated either through the Bank’s App, mobile or internet banking or other Platform. Bank shall not be held liable in this regard.

INTELLECTUAL PROPERTY RIGHTS

Bank shall have the right to not return the application, the photographs, information and documents submitted by the Customer during the purchase journey as per Applicable Laws. Bank is bound to comply with Applicable Laws in relation to usage, retention and processing of the customer information Intellectual Property Rights displayed on the website(s)/ applications / portals (“Platforms”) are registered and unregistered intellectual property rights of Bank or of respective intellectual property right owners and Bank is the absolute owner thereof. Nothing contained herein or otherwise should be construed as granting, by implication, estoppels, or otherwise, any license or right to use any intellectual property displayed on the website(s) without the written permission of Bank or such third party that may own the intellectual property displayed on the Platform. Bank grants the right to access the Platform to the Customer in accordance with the terms of service. Bank shall be entitled to obtain equitable relief (including all damage, direct, indirect, consequential and exemplary) over and above all other remedies available to it, to protect its interests therein. Unauthorized use of "Airtel"  or “Airtel Payments Bank” as a word, trademark, symbol, device mark or word mark, is strictly prohibited. All rights are expressly reserved by Bank to use the brand of "Airtel" or “Airtel Payments Bank” in all its forms and variations.

AMENDMENTS

The Bank has the absolute discretion to amend or supplement any of the General Terms at any time, with/without intimation. Updated General Terms shall be available at the Platform. However, the Bank will endeavor to notify the changes by posting it on the website or through advertisement or any other means as the Bank may deem fit which will be binding on the Customer. The existence and availability of the new functionalities/facilities/features will be notified to the Customer as and when they are made available. By using these new or updated or modified services, the Customer agrees to be bound by the General Terms as amended from time to time. .

NON-TRANSFERABILITY

The grant of facility of Internet Banking and Mobile Banking Services to any other third person is non-transferable under any circumstances and shall be used by the Customer only. Bank shall not be held liable for any misuse, unauthorized transaction or fraud etc. using credentials of the Customer.

THIRD PARTY LINKS / WEBSITE DISCLAIMER

Platforms of the Bank may provide hyperlinks to websites not controlled by the Bank website or Bank’s mobile application, but owned and operated by such independent party. Customer may note that such hyperlinks do not imply any endorsement, agreement on, or support of the content, products and /or services of such websites or applications. Any link the Customer make to or from the 3rd Party website will be at Customer’s risk. Any use of the 3rd Party website will be subject to and any information the Customer provide will be governed by the terms of the 3rd Party Website, including those relating to confidentiality, data privacy and security. Bank does not endorse or approve and makes no warranties, representations or undertakings relating to the content of the 3rd Party website and hence disclaims liability for any loss, damage and other consequence resulting directly or indirectly from or relating to Customer access to 3rd Party or any information that Customer may provide or any transaction conducted on or via the 3rd Party Web site or the failure of any information, goods or services posted or offered at the 3rd Party Website or any error, omission or misrepresentation on the 3rd Party Website or any computer virus arising from or system failure associated with the 3rd Party Website. In the event of any inconsistency between the General Terms and terms of the 3rd Party, the terms herein shall prevail.

DISCLAIMER ON THE INFORMATION TECHNOLOGY ACT 2000

The Bank has adopted the mode of authentication of the Customer by means of verification of the mobile number/Customer ID and or through verification of mPIN or through any other mode of verification as may be stipulated at the discretion of the Bank. The Customer hereby agrees/consents for the mode of verification adopted by the Bank. The Customer agrees that the transactions carried out or put through by the aforesaid mode shall be valid, binding and enforceable against the Customer and that the Customer shall not be entitled to raise any dispute questioning the transactions.

DISCLAIMER ON ANTI VIRUS UPDATE

The Customer needs to get his/her PCs/laptops or mobiles scanned on a regular basis and be updated with the latest antivirus software available. The Bank shall not be responsible in case of any data loss or theft due to the virus transmitted in the system through the usage of Internet Banking and Mobile Banking.

GOVERNING LAWS

These General Terms and/or operations in the accounts of the Customer maintained by the Bank and/or the use of services provided by the Bank including transactions initiated through Internet Banking and Mobile Banking Services are construed to be governed in accordance with the laws in India. Bank accepts no liability whatsoever, direct or indirect for non-compliance with the laws of any country other than that of India. The Customer agrees to abide by prevailing laws in respect of Internet Banking and Mobile Banking Services applicable in India. All disputes shall be subject to the jurisdiction of the Courts in New Delhi, India. The Bank however, may, in its absolute discretion commence any legal action or proceedings arising out of these terms in any other court, tribunal or other appropriate forum, and the Customer hereby consents to that jurisdiction.

SEVERABILITY

If any part of this General Terms is adjudged void or inoperable for any reason, the same shall be severed from the remainder of the General Terms and only that portion of this General Terms that is specifically adjudged void or inoperable shall cease to govern the relationship between the Bank and the Customer.

JURISDICTION

The Courts at New Delhi shall have exclusive jurisdiction in respect of all and any dispute regarding the use of Bank service including the interpretation and execution of this Terms and Conditions or any other document executed by the Customer or the Bank with respect to Bank service.

GRIEVANCE REDRESSAL

In case the Customer has any complaint relating to the features of any of the Bank services that the Customer holds and/or avails of, Customer can approach the Grievance Redressal Cell within the Bank at grievance.officer@airtelbank.com for a resolution and if he/she does not get a satisfactory response within 30 days of lodging the complaint, then, under the Banking Ombudsman Scheme 2006, such Customer can approach the Ombudsman appointed by the RBI, in charge of the region where he/she has an Account, details of which are available atwww.bankingombudsman.rbi.org.in.

FATCA AND CBDT DECLARATIONS

You agree that the opening and maintenance of the Account are subject to all Applicable Laws, including rules and regulations issued by the Reserve Bank of India (RBI) as amended from time to time. You certify that you have declared your status as required under section 285BA of the Income Tax Act, 1961, as per Notification No. S.O. 2155(E) dated 7 August 2015 by the Central Board of Direct Taxes (CBDT) and RBI Circular Ref No. DBR.AML.BC.No.36/14.01.001/2015-16 dated 28 August 2015. You understand that, in accordance with the Income Tax Act, related rules, and RBI guidelines, depending on your residential status and other applicable criteria, the Bank may report your Account details in the prescribed format to the CBDT or other Government Agencies to comply with obligations under Inter-Governmental Agreements (IGA), including the Foreign Accounts Tax Compliance Act (FATCA) and Common Reporting Standards (CRS) or any similar arrangements.

a)     You certify that the information and documentary evidence provided by you are, to the best of your knowledge and belief, true, correct, and complete. You undertake to promptly declare and disclose within 30 days any changes to such information or documents or if any certification becomes incorrect, providing fresh and valid self-certification along with supporting evidence.

b)     You acknowledge that failure to disclose any material fact known to you now or in the future may result in restrictions on your Account operations, closure of your Account, reporting to Government Authorities or RBI, or other actions deemed appropriate by the Bank under guidelines issued by CBDT/RBI, if the deficiency is not remedied within the stipulated period.

c)     You agree to furnish and notify the Bank of any other particulars required due to changes in law in India or abroad regarding these matters.

d)     You agree to abide by the Bank's Terms and Conditions, including any amendments communicated and published by the Bank from time to time relating to your Account.

e)     You authorize the Bank to use your KYC documents, provided particulars, and usage-based relationship information for Account opening and ongoing purposes.

f)      You consent to your Personal/KYC details being shared with the Central KYC Registry. You also agree to receive information from the Registry or the Bank via SMS or email on your registered mobile number or email address.

g)     You consent to the Bank displaying your balance in the wallet or Bank Current Account on the Airtel Thanks app.

h)     You authorize the Bank to use your biometric authentication as your electronic signature for all Bank services.

Records of your transactions maintained by the Bank shall be conclusive and binding on you, except in cases of manifest or computational errors.

RIGHT TO SET OFF AND LIEN

Customer hereby grants the Bank the right of set off and lien, which Bank may at any time at its sole discretion and with/without notice to Customer, irrespective of any other lien or charge, present as well as future, on the account(s) held by Customer(s) to the extent of all outstanding dues, whatsoever arising as a result of the Internet Banking and Mobile Banking Services extended to and/or used by the Customer or otherwise due from the Customer as per these Terms & Conditions.

NOTICES

Notices under these Terms of Service (Terms & Conditions) to the Customer may be given through any medium of communication as may be deemed appropriate by the Bank i.e. Bank’s website (https://www.airtelpayments.bank.in/) or email, sms, public notification at Branches, or through newspapers, radio, TV, mobile application etc . Such notices shall have the same effect as a notice served individually to each Customer.

Bank may send any communication through SMS/Email, Courier or Post from time to time at the mailing address furnished by the Customer and it is incumbent upon the Customer to intimate change in mailing address, if any, immediately or within a week  of such a change. Bank shall not be responsible for any loss, damage or consequences for wrong delivery of the above communication arising out of non-intimation of change in mailing address. 

FORCE MAJEURE

Bank shall not be liable for delay in performing or failure to perform any of its obligations under these General Terms if the performance is prevented, hindered or delayed by a Force Majeure Events and in such case  time for performance of the affected obligation shall be suspended for so long as the Force Majeure Events continues.

ASSIGNMENT

These General Terms and any rights granted hereunder, may not be transferred or assigned by the Customer, the Customer without Bank’s prior written consent which may be withheld in Bank’s sole discretion, but these General Terms and any rights granted hereunder, may be assigned by Bank without any restriction.

WAIVER

Failure of the Bank to exercise or enforce any right or provision of the General Terms will not constitute a waiver of such right or provision. Any waiver of any provision of the General Terms will be effective only if in writing and signed by the Bank. To the maximum extent permitted by the Applicable Law.

DND/NDNC

The Bank is also authorized to use the contact number/e-mail ID of the Customer, mentioned in the AOF, in connection with transactional, promotional as well as service related calls or messages, through Telephone/Mobile/SMS/e-mail by the Bank or its agents. However, the Customer have the right and option to reregister for DND/NDNC at any time at his/her discretion

PRIVACY POLICY

In case any personal information or data is collected by the Bank, the same shall be dealt with in accordance with Bank’s privacy policy which is available on Bank’s website and as per applicable laws. Bank’s Privacy Policy applies to use of the Platform, and its terms are made a part of these terms and conditions by this reference. The same may be viewed at https://www.airtelpayments.bank.in/static/privacy-policy

Customer agrees, understands and acknowledges that these General Terms read with Specific Terms and Condition are not exhaustive.

TERMS & CONDITIONS FOR INTERNET BANKING AND MOBILE BANKING FOR CUSTOMER OF AIRTEL PAYMENTS BANK LIMITED (“BANK”)

Customer may refer to the terms and conditions Internet Banking and Mobile Banking under the Saving Bank Terms and Conditions https://www.airtelpayments.bank.in/static/terms-conditions/savings-account.

CURRENT ACCOUNT – TERMS AND CONDITIONS:

These terms and conditions apply to Current Accounts issued by the Bank and shall be read in conjunction to the General Terms and Conditions governing the Accounts and Services of the Bank ("General Terms") and the Current Account Terms unless the General Terms conflict with the terms stated herein below.

OPENING OF AN ACCOUNT

You understand that you may open the Account, with the Bank by following any of the Options mentioned below.

Option I:

Aadhaar Based e-KYC Authentication Process (Through Bank’s Application or through Business Correspondents of the Bank)

For the purpose of opening the Bank Account by following Aadhaar based e-KYC authentication process, You hereby declare and confirm that:

a.      You have no objection to the Aadhaar based authentication system and hereby give your consent to provide Your Aadhaar number and biometric for Aadhaar based Know Your Customer. You also give Your consent for accessing mobile number and email-id from the Central Identities Data Repository (“CIDR”)/Aadhaar system. You understand that You  shall also have the option to delink Your Aadhaar and related information from Your Account at a later date and can update another valid Proof of Identity (“POI”)/Proof of Address (“POA”) of Your choice.

b.      You have no objection for using Aadhaar based authentication service for availing various banking services at Banking Points.

c.      You agree and give Your consent for Sweep out facility as operated by Bank in accordance with the terms of Sweep out facility mentioned in these Terms and Conditions.

d.      You further understand and agree that this biometric authentication can be treated as Your signature for the purpose to open a Savings Bank Account with Airtel Payments Bank.

Option II –

Physical Submission of KYC and business documents including valid POI and POA of my choice as required by the Bank in accordance with Applicable Laws (through Banking Points).

For the purpose of opening the Bank Account, You hereby declare and confirm that:

a) the Bank has provided me with the option to open Your Account using a valid POI/POA of Your  choice along with the Enrolment Form;

b) You understand that You may be required to submit filled and signed Enrolment Form along with prescribed documents designated as ‘Officially valid document’ stipulated as per Master Direction - Know Your Customer (KYC) Direction, 2016 issued by RBI as amended or supplemented (“KYC Norms”) / Anti-Money Laundering (AML) standards/Combating of Financing of Terrorism (CFT)/Obligation of Banks under PMLA, 2002, including Permanent Account No. (PAN) or Form 60/61 from time to time, which is applicable for Aadhaar based authentication system (in case the Customer does not have a PAN), to the satisfaction of the Bank and such other documents including in respect of my nature of business and financial status as may be required by the Bank as stipulated under Applicable Laws including KYC Norms;

c) You agree and give Your consent for Sweep out facility as operated by Bank in accordance with the terms of Sweep out facility mentioned in these Terms and Conditions.

d) You understand that for this Option, You will have to physically sign the documents, wherever required by Bank.

FURTHER DECLARATIONS:

You further declare that:

a)     You are  a citizen and a tax resident of the Republic of India and not of any other foreign country. You also declare that Your place of birth is in India.

b)     The information provided by You is true to the best of Your knowledge and belief. You further declare that where You have not submitted PAN, You do not have a PAN and my/our estimated total income including income of spouse, minor child etc. (as per section 64 of the income tax act, 1961) computed in accordance with the provisions of the Income Tax Act, 1961 for the financial year in which the above transaction is held will be less than maximum amount chargeable to tax. Where You have provided PAN, the PAN details provided by You are correct to the best of Your knowledge.

c)     You hereby give Your express consent and agree to the Bank in sharing Your personal details including phone number and email id with a)any of its service providers, business correspondents, credit rating or investigation agencies or any other agencies or entity for the purpose of providing Banking, search, survey and allied services or for providing third party products including insurance, third party loans, etc; and b) any regulatory, statutory, Government Authority or legal authority as and when deems fit by the Bank and/or as and when requested by such authority.

d)     The information provided by You and Your data received from Unique Identification Authority of India (UIDAI) is true and correct for opening the Current Account through either of the options mentioned above.

You give Your explicit consent for sweep out facility as operated by Bank as per the terms as mentioned below mentioned in these Terms and Conditions

e)     The Service Charges prescribed by the Bank may be changed, amended, increased, modified or reduced at the Bank’s discretion, from time to time with intimation to the Customer. For schedule of Service Charges, please refer to the Website.

f)      You, the Customer shall be solely responsible for the confidentiality, safety and security of the mPIN. You shall be the sole owner of the mPINand shall be responsible for the consequences arising out of disclosure of the Mpin and/or its unauthorized use and of Bank services. In case the mPIN is forgotten it can be regenerated through Bank application.

g)     In case the mobile phone/SIM card associated with the Bank services is lost/stolen/misplaced/no longer in Your control or possession or is not operational, You shall promptly inform Bank through its call center or email registered with the Bank.

h)     The Current Account balance shall not exceed INR 1,92,000/- (One Lakh Ninety Two Thousand only) at any given time unless the SSFB Sweep Account with Partner Bank has been opened.

i)      You have no objection in using Aadhaar based authentication service for availing various banking services at Banking Points.

DOCUMENTATION

a. The collection, verification, audit and maintenance of correct and updated Customer information is a continuous process and Bank reserves the right, at any time, to take steps necessary to ensure compliance with all relevant and applicable KYC requirements. Bank reserves the right to discontinue services/ reject applications for Bank services at any time if there are discrepancies in information and/or documentation provided by the Customer at the time of Account opening.

b. Any information (except Aadhaar), provided to the Bank with the intention of taking its services, shall vest with the Bank, and may be used by the Bank, for any purpose consistent with any Applicable Law,

c. If the particulars provided by the Customer in the KYC documents do not match with details mentioned in the enrolment form, then Bank has the right to call for additional documents to the satisfaction of the Bank as per the extant KYC guidelines.

d. The Bank reserves the right to take appropriate action, including account closure, in the event that any of the business documents provided are found to be falsified or inaccurate.

e. Bank reserves the right to decide whether cheque book can be provided as an instrument to the Customer and also the clearing, collection and settlement facility for cheques. Presently, the above facilities are not available to Customers.

f. You may download the Current Account opening form for non-eKYC based on-boarding from here https://www.airtel.in/bank/terms/Current_Account_Form.pdf

SWEEP OUT FACILITY (“SWEEP ACCOUNT”)

a)     The end-of-day balance in the Customer’s Airtel Payments Bank Account shall not exceed ₹1,92,000 (Rupees One Lakh Ninety-Two Thousand only). Subject to the Customer’s consent, Airtel Payments Bank (“Bank”) will open a Sweep Account with Suryoday Small Finance Bank (“SSFB”) in accordance with applicable laws. Any excess balance beyond the permitted limit will be transferred to the SSFB Sweep Account.

b)     The Bank will initiate the process of opening the SSFB Sweep Account if the Customer’s end-of-day balance exceeds ₹1,00,000 (Rupees One Lakh only).

c)     The Customer agrees to deposit ₹500 (Rupees Five Hundred only) into the SSFB Sweep Account upon its opening. This amount will be debited from the Customer’s Airtel Payments Bank Account.

d)     The nominee registered with Airtel Payments Bank will automatically be assigned as the nominee for the SSFB Sweep Account.

e)     The Customer consents to the sharing of CKYC details, nominee information, and other relevant data with SSFB and any Government Authority, as required under applicable laws.

f)      The SSFB Sweep Account will be governed by SSFB’s internal policies and terms. The Customer may view the balance and initiate sweep-in transactions through the Bank’s mobile application. Sweep-in of funds from SSFB to the Bank Account will require explicit consent from the Customer.

g)     All communications regarding the SSFB Sweep Account, including grievances and queries, will be handled by Airtel Payments Bank. The Bank may communicate via SMS, email, courier, or post using the Customer’s registered contact details. The Customer is responsible for notifying the Bank of any change in mailing address within one week. The Bank shall not be liable for any consequences arising from failure to update contact details.

h)     The primary mobile number provided by the Customer will be used for all banking services, including mobile banking, one-time passwords (OTPs), alerts, and related communications.

i)      In the event of closure of the Airtel Payments Bank Account, the SSFB Sweep Account will also be closed. Any balance in the SSFB Sweep Account will first be transferred to the Bank Account before both accounts are closed.

j)      The Bank and/or SSFB reserve the right to block, suspend, freeze, or close the Bank Account or SSFB Sweep Account without prior notice if misuse or fraudulent activity is suspected. Such actions will be subject to investigation and may be reported to the relevant authorities.

k)     The Customer agrees to indemnify and hold the Bank harmless from any loss, cost, compensation, litigation, or damages arising from the use or misuse of the Bank Account or SSFB Sweep Account.

l)      For any queries related to the SSFB Sweep Account, the Customer may contact Airtel Payments Bank via email at wecare@airtelbank.com or call 1800-23400.

m)    The SSFB Sweep Account is subject to SSFB’s terms and conditions, available at:
https://www.suryodayBank.com/assets/pdf/Terms_and_Conditions_word_v1-Products.pdf

CUSTOMER OBLIGATIONS

a)     The Customer consents to conducting transactions and receiving communications, notices, and information from the Bank electronically, including via email, SMS, or other digital channels. Such communications shall be deemed received once sent to the Customer’s registered email address or mobile number, or when posted on the Bank’s application.

b)     The Bank may send communications through courier, registered post, messenger, email, SMS, in-app notifications, or any other mode at its discretion. The Bank shall not be liable for any delays or errors resulting from incorrect or outdated contact details provided by the Customer. Maintaining accurate contact information is the sole responsibility of the Customer.

c)     The Customer must notify the Bank of any changes in personal information, including but not limited to address, within one week, along with valid proof as per the Bank’s prescribed KYC documents. The Bank may restrict electronic transaction services if the mobile number is invalid. Failure to update address details may result in non-receipt or mis-delivery of communications, for which the Customer shall be solely responsible.

d)     The Customer shall not use the Bank’s services for any purpose that is illegal, violates applicable laws or Bank policies, or may harm the Bank’s reputation or interests.

e)     The Customer is required to review account statements upon receipt and report any discrepancies to the Bank within fifteen (15) days. If no such report is made, the statement shall be considered accurate. The Bank shall not be liable for any loss resulting from the Customer’s failure to examine and report errors or omissions.

f)      By registering for or using the Bank’s website, platform, or mobile application, the Customer agrees to be bound by these Terms and Conditions and those applicable to the Bank’s products and services. If the Customer does not accept these Terms, they will not be able to use the Bank’s digital platforms.

g)     The Customer acknowledges that the Bank reserves the sole and absolute discretion to accept or reject applications for account opening or for availing banking products and services. The Customer agrees to comply with all policies, procedures, and requirements communicated by the Bank from time to time, including submission of necessary documents and information.

h)     The Customer agrees that the Bank may engage Business Correspondents (“BCs”) to extend banking and financial services to promote financial inclusion and expand outreach.

i)      The Bank reserves the right to record telephonic conversations with Customers for internal quality control and as evidence in case of disputes. The Customer consents to such recordings.

j)      If the Customer suspects unauthorized access to their account or that their passcode or security credentials have been compromised, they must immediately contact the Bank and report the incident to the police by filing a First Information Report (FIR). The Customer shall be liable for any losses resulting from misuse due to their consent, knowledge, gross negligence, or malicious intent.

k)     The Customer represents that they are not a minor or suffering from any mental disability that would impair their ability to operate the account. If the Customer becomes incapacitated, they or their legal representative must inform the Bank in writing, and the Bank will take appropriate action in good faith.

l)      The Customer agrees to maintain only one account-based relationship with the Bank. If a duplicate or second account exists, the Customer must report and request closure of such account within thirty (30) days of opening the current account. The Bank reserves the right to close duplicate accounts with prior intimation.

m)    The Customer agrees to maintain the minimum balance in the account as prescribed by the Bank from time to time. Penal charges may apply for non-maintenance of the minimum balance, as per the RBI Master Circular on customer service.

n)     The Customer acknowledges that account maintenance requirements may change periodically and agrees to comply with such changes.

o)     The Customer authorizes the Bank to levy monthly account maintenance charges and deduct them from the account. If unpaid in a given month, the Bank may recover the dues in subsequent months.

p)     At the time of account opening, the Customer shall disclose details of any other banking relationship with the Bank.

q)     The Customer acknowledges that transaction requests may fail or be declined if there are insufficient funds in the account.

r)      The Customer undertakes to keep all passwords/ mPINs strictly confidential and understands that any transaction authenticated using the correct password/ mPINs shall be binding. Passwords must meet the minimum character requirements as mandated by the Bank from time to time.

s)      Customer accepts/ declares that he/she does not enjoy any cash credit (cc)/overdraft (OD) or total credit facility greater than or equal to INR 5 Cr from all banks combined in business & personal capacity combined, and,

t)      Customer hereby declares and accepts to inform Airtel Payments Bank in case he/she avails CC/OD facility or total credit of INR 5 Cr from any Bank(s) in future.

u)     Customer provides an explicit consent to Airtel Payments Bank to collect, access, use, and store your personal information (including name, address, phone number, email ID, and identification documents) for the purpose of providing you with banking and related financial services (“purpose”).

v)     Share your personal information to facilitate the purpose on need basis with:

                         i.         Authorized service providers and business correspondents to support the delivery of banking services.

                       ii.         Credit Information Companies (CICs) to obtain your credit reports.

                      iii.         Regulatory, statutory and other authorities such as RBI, FIU-IND, or law enforcement agencies, judicial bodies, as per legal obligations.

w)    Customer hereby declares that as a "specified user" under Section 2(l) of the Credit Information Companies (Regulation) Act, 2005, Airtel Payments Bank is authorized to obtain your credit information from CICs solely for the purpose of evaluating your eligibility for financial products and services. You hereby provide an explicit consent to Airtel Payments Bank to procure, use and store your personal information from any of the Credit Information Companies. Your data will be used only for the stated purposes and will be retained only as long as necessary, in accordance with regulatory guidelines/ Applicable Laws.

RECOVERY IN CASE OF EXTRANEOUS CREDIT

Customer shall be liable to pay all Charges, fees, interest, late fee, return charges, any other costs wherever applicable, which Bank may levy with respect to his Current Account or any transaction or services rendered and the same may be recovered by Bank by a debit to his/her Current Account. It is further agreed and acknowledged that in case of non-availability of adequate funds in Customer's Current Account, the Customer authorizes the Bank to recover the Charges by debiting the Current Account over a period of time from any future credits, till the entire outstanding amount is paid to Bank.

ACCOUNT FREEZE AND CLOSURE

a)     The Bank has the right to freeze the Current Account if it is suspected that operations in an Current Account are being carried out in disproportion to his/her profile and/or source of funds are not known to the Bank.

b)     Bank also reserves the right to close or freeze the Current Account(s), for reasons which may include, but not limited to, Garnishee order, attachment order by competent court of jurisdiction and competent Government Authority and Quasi-Judicial bodies, death of the Customer, or the Customer is declared incompetent or insolvent by a court.

c)     Customer authorizes the Bank not to proceed with opening his/her Current Account or close his/her Bank Account in the circumstances where there is an intimation on high occurrences of dishonoured Payments from Customer’s Current Account or if the Bank is not able to verify Customer’s identity/obtain the necessary documentation either because the Customer didn’t cooperate or if the data/information provided by the Customer is not reliable.

d)     Notwithstanding anything contained elsewhere, the Bank reserves the right to suspend/discontinue its products/services to the Customer and/or to severe its banker-customer relationship with the Customer and/or to refuse or delay processing of transactions initiated by the Customer, at any time, for any cause, including, but not limited, to the following:

                  i.         For any violation or suspected violation of the Applicable Laws including rules, regulations, orders, directions, notifications issued by RBI from time to time or for any violation of the terms and conditions mentioned in these terms.

                 ii.         For any discrepancy or suspected discrepancy in the particular(s), documentation or Enrolment Form provided by the Customer;

               iii.         To combat potential fraud, sabotage, wilful destruction, money laundering activities, threat to national security, for any other force majeure reasons etc;

               iv.         If the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons.

                 v.         If the same is due to any transmission deficiencies caused by topographical and geographical constraints/limitations;

               vi.         If the mobile connection with which the Customer's Bank product/service is related ceases to be operational or in the Customer's possession or control.

              vii.          If the Customer indulges in any abusive or aggressive or threatening behaviour or any act or any intimidation or harassment of any kind (be it verbal or physical or written) against any employee / representative / agent of Bank.

             viii.         If Bank believes, in its reasonable opinion, that cessation/ suspension is necessary.

               ix.         Notwithstanding anything contained herein, Bank further reserves the right to apply freeze on the Customer’s Account without any notice or intimation to Customer until further notice from the Bank.

REVERSAL OF ENTRIES

The Bank reserves the right and the Customer hereby authorizes the Bank to reverse any entries erroneously/extraneously passed, with or without notice to/from the Customer and to debit/credit the Account to the extent required to correct any erroneously/extraneous entries that may have been inadvertently made by the Bank.

DORMANT ACCOUNTS

In case there are no transactions initiated by Customers in the Account for a continuous period of 2 (two) years (excludes system generated transactions like credit interest, debit interest), then the Account would be treated as a 'Dormant' Account by the Bank as per RBI guidelines. Customer agrees that the Account status would change to 'Active' only on Customer's Instruction in this regard and after re-KYC formalities as deemed necessary by the Bank. Customer understands that until the Account status is 'Dormant', transactions through direct banking channels like Net banking, Phone-banking, Debit Card may not be allowed by the Bank.

NOMINATION AND DEATH OF THE CUSTOMER

a)     The Customer may, by filing in necessary particulars in the prescribed format at the time of opening of Current Account, nominate any person who, in the event of death of the Customer as the case may be shall become entitled to the deposit and the payment thereon.

b)     If such nomination is not made at the time of opening the Current Account, it may be made by the Customer at any time, by means of an application in the prescribed format to the Bank from which the Current Account is issued. Should the Customer not like to avail nomination facility, he / she shall provide a specific declaration for not availing the nomination facility.

c)     In the event of death of the Customer in respect of which a nomination is in force, the nominee shall be entitled for release of the deposits in his favor. For the aforesaid purpose, the surviving nominee shall make an application to the Bank, supported by proof of death of the Customer. Payment to the nominee will however be made on satisfactory completion of the formalities as laid down or modified/amended from time to time by the Bank. If a Customer dies and there is no nomination in force at the time of his / her death, the Bank shall pay the sum due to the deceased, to his / her legal heir by completion of the required formalities/process as per Bank’s policies.

d)     The Customer can nominate one (1) individual for the purpose. The Customer is at liberty to change the nominee as per the Bank process.