DMI TERMS & CONDITIONS

GENERAL TERMS AND CONDITIONS OF LOAN (“GC” or “Terms”) for loans by DMI Finance Private Limited, registered under the Companies Act 1956 and having its registered office at Express Building, Third Floor, 9-10, Bahadur Shah Zafar Marg, New Delhi – 110002 (‘Lender 1’ which shall mean and include its successors and assigns) and Akara Capital Advisors Private Limited, registered under the Companies Act 1956 and having its registered office at 58, First Floor, Arjun Nagar Kotla Mubarakpur, New Delhi - 110 003, India (‘Lender 2’ which shall mean and include its successors and assigns) (hereinafter collectively referred to as the “Lenders”).


  1. INTRODUCTION

    • The Borrower(s) (hereinafter defined) are requested to read these Terms (hereinafter defined) carefully.
    • The Borrower understands that (a) the Credit Line (hereinafter defined) from Lenders (hereinafter defined) shall be strictly subject to these Terms (hereinafter defined); (b) the Credit Line and Drawdown (hereinafter defined) is at the sole discretion of the Lenders. Anything contained in these Terms or any communications will be strictly subject to and without prejudice to the prerogative of the Lenders mentioned aforesaid.
    • The Borrower also understands that (a) submitting a Credit Line Application Form(hereinafter defined) does not entitle the Borrower to be eligible for sanction of Credit Line; (b) the Credit Line shall be approved by the Lenders basis the details represented by the Borrower, which shall mean to include all facts related to the Borrower, the way understood by the Lenders; (c) pursuant to such details the Lenders at its sole discretion will determine the Credit Line which can be granted; (d) details of the approved Credit Line and any variations (increase or decrease) will be communicated to the Borrower through Stashfin App (as defined below) and such other means as the Lenders may decide from time to time; (e) acceptance of these Terms shall constitute a valid and binding legal agreement between the Borrower, Lenders; (f) these Terms may be varied, the Borrower is therefore requested to be updated, and any such changes will be applicable prospectively; (g) further, these Terms when electronically generated are an electronic record under the provisions of Information Technology Act, 2000; (h) while applying for a Credit Line the Borrower have electronically agreed to these Terms,and the same shall be binding on the Borrower.
    • If the Borrower needs any clarifications please visit us on www.stashfin.com or download Stashfin App, a mobile application and go through the illustrations/demonstrations and / or www.dmifinance.in. The Borrower can also call us on 011-47848400.

  2. DEFINITIONS

    • Capitalized terms used in these Terms are defined below:
      • “Availability Period” shall mean the period within which the Borrower can request a Drawdown from the Credit Line (as defined below) and is as detailed in the Loan Details Sheet;
      • “Available Credit Line” means at any point of time the undrawn amount of the Credit Line, including any amount of the Credit Line which becomes available pursuant to any repayment or prepayment of all or part of any previous Drawdown if granted as a Revolving Credit Line;
      • “Borrower” shall mean the person/entity as detailed in the Loan Details Sheet.
      • “Borrower’s Dues” means all sums payable by the Borrower to the Lenders, including outstanding Credit Line, Interest, all other charges, costs and expenses;
      • “Business Day” means normal working hours on a day on which scheduled banks are open for business in New Delhi;
      • “Credit Line” means the maximum drawdown limit granted by the Lenders to the Borrower as per Loan Details Sheet, which is available to the Borrower as a revolving credit if granted as a revolving credit as detailed in the Loan Details Sheet;
      • “Credit Line Application” means the application in the prescribed form as submitted from time to time by the Borrower to the Lenders or the Lenders’ Agent (if any) for seeking the sanction of Credit Line;
      • “Drawdown” shall mean each drawdown of the Credit Line within the Availability Period and as per the terms of the Financing Documents;
      • “Due Date” in respect of any payment means the date on which any amount is due from the Borrower to the Lenders;
      • “EMI” means the equated monthly amount to be paid by the Borrower towards repayment of all outstanding Drawdowns and payment of Interest (if applicable) as per Financing Documents;
      • “Financing Documents” means these Terms, the Credit Line Application Form, terms and conditions for Credit Line Sheet (hereinafter defined), Demand Promissory Note (if any executed by the Borrower) the Loan Details Sheet (hereinafter defined), the Annexures hereto and any documents executed by the Borrower or as required by the Lenders, as amended from time to time;
      • “Lenders’ Agent” means Person(s) authorized by the Lenders from time to time for acting on their behalf which includes but not limited to collection of documents from the Borrower, sending reminder for repayments, issuing notices, instructing lawyers, site visits, monitoring utilization of amounts drawn, representing in courts and legal proceedings and acting on their behalf, doing any acts per law to enforce any legal right or remedy of the Lenders.
      • “Loan Details Sheet” means documents submitted by the Borrower to the Lenders, from time to time, as complete, irrevocable acceptance to the terms and conditions for Credit Line Sheet (hereinafter defined);
      • “Material Adverse Effect” means any event which in the Lenders opinion would have an adverse effect on (i) Borrower’s ability to pay the Borrower’s Dues or (ii) recoverability of the Borrower’s Dues;
      • “Overdue Interest Rate” means the default interest as prescribed in the Loan Details Sheet which is payable by the Borrower on all amounts which are not paid on their respective Due Dates;
      • “Purpose” means the utilization of each Drawdown as mentioned in the Loan Details Sheet including for the purchase of any Product from Vendors.
      • “Product” shall mean, if applicable, a product purchased by the Borrower from any Vendor and in line with the Purpose provided in the Loan Details Sheet
      • “Repayment Instrument” means to include instruments inter alia Post Dated Cheques (“PDC”), Undated Cheques (“UDC”), Whole Amount Cheques (“WAC”), (collectively,“Cheques”) or Electronic Clearing Service (“ECS”) mandates or Standing Instructions (“SI”) or National Automated Clearing House Mandate (“NACH”) and/or such other instruments as may be prescribed by the Lenders and issued by the Borrower for facilitating repayments during the currency of the Credit Line;
      • “Stashfin App” means internet and technology-based platform which can be down loaded and used by the Borrowers (i) as per terms of use for the same; (ii) to apply for Credit Line or for Drawdown of Credit Line (as may be applicable);
      • “Terms” means these Credit Line General Terms and Conditions as may be modified and updated;
      • “Vendor” shall mean the vendors, including a commerce website as approved by the Lenders from time to time in respect of which the Credit Line would be sanctioned by the Lenders for the purchase of any Products;
      • “Website” means www.stashfin.com or www.dmifinance.in .
    • In this Terms, unless the context otherwise requires the words importing singular shall include the plural and vice versa and the words denoting natural persons shall where the context admits, include partnerships, firms, companies, corporations, associations, organisations or other entities (whether or not having a separate entity).

  3. DISBURSEMENT

    • The Borrower may at any time during the Availability Period request disbursement of any amount to the extent of the Available Credit Line. The Lenders shall have the sole and absolute discretion to allow or reject Drawdown against such request. The Credit Line may be in the nature of revolving credit or a single Drawdown, as per the discretion of the Lenders. In case of a Revolving Credit Line, the Available Credit Line Amount may change during the Availability Period due to prepayments/repayments of earlier Drawdowns. A Credit Line shall only a revolving Credit Line if the same is provided explicitly in the respective the Loan Details Sheet of the Borrower. In any event, the amount not refunded at any time shall not exceed the Credit Line as per the Loan Details Sheet.
    • Notwithstanding anything contained in these Terms, the Lenders shall have the absolute right to cancel or refuse any further Drawdowns from the Credit Line at their discretion as it may deem fit, including due to any change in credit evaluation of the Borrower.
    • Disbursement of any Drawdown directly to any Vendor/ healthcare institution/ a third party, if applicable, as mentioned in the terms and conditions for Credit Line Sheet and Loan Details Sheet shall be treated as having been disbursed to the Borrower.
    • The Borrower shall pay non-refundable processing charges and documentation charges as stated in the Loan Details Sheet, along with goods and services tax (“GST”) thereof, which may be added as a deemed disbursement to the first Drawdown. The Borrower will accordingly be liable for entire Drawdown including the amount towards the non- refundable processing charges as stated in the Loan Details Sheet, along with GST thereof and Interest (if any) thereon.

  4. INTEREST AND REPAYMENT

    • The Borrower will pay Interest (if applicable) on each Drawdown made by the Borrower of the Credit Line, and all other amounts due as provided in the Loan Details Sheet and the interest shall be compounded monthly. The Borrower will be liable for the entire Drawdown amount and shall pay the full amount for each Drawdown. However, in such cases, in the event the instalment is not paid on the Due Date, all overdue amounts shall accrue Interest at the prescribed Overdue Interest Rate which shall be computed from the respective due dates for payments, and the interest shall be compounded monthly.
    • The Borrower acknowledges that in case of identified Purpose, Drawdown may be allowed on zero interest basis and in such cases the return shall be made available to the Lenders by way of one-time non-refundable upfront discount provided by the Vendor/ third Party on selected Purposes as mutually agreed between the Lenders and Vendor / its authorized representatives.
    • The tenure of each Drawdown shall be as provided in the Loan Detail Sheet. EMI shall be as calculated by the Lenders as required for amortisation of Drawdowns within their respective tenure and Interest payable thereon and not exceeding the maximum EMI as provided in the Loan Details Sheet and in a manner as may be required by the Lenders from time to time. EMI shall only be towards principal outstanding and Interest thereon and does not include any default interest or any other charges payable by the Borrower pursuant to Financing Documents.
    • The payment of each EMI on time is the essence of the contract. The Borrower acknowledges that s/he has understood the method of computation of EMI and shall not dispute the same.
    • Notwithstanding anything stated elsewhere in the Financing Documents, all Borrower’s Dues, including EMI, shall be payable by the Borrower to the Lenders as and when demanded by the Lenders, at their discretion and without the requirement of any reason being assigned. The Borrower shall pay such amounts, without any delay or demur, within fifteen (15) days of such demand.
    • The Lenders shall be entitled to revise the rate of Interest if so required under any applicable law and the Lenders may re-compute the EMI /the number of EMI for repayment of outstanding Credit Line and interest. Any such change as intimated by the Lenders to Borrower will be final and binding on the Borrower. In case of such revision, the Borrower shall be entitled to prepay, within thirty (30) days of such revision, the entire outstanding Credit Line along with accrued Interest (if applicable), without any prepayment penalty.
    • In case of delayed payments, without prejudice to all other rights of the Lenders, the Lenders shall be entitled to Overdue Interest Rate (as prescribed in Loan Details Sheet) from the Borrower for the period of delay.
    • The Borrower may pre-pay any Drawdown before its scheduled tenure only with the prior approval of the Lenders and subject to such conditions and prepayment charges, as stipulated by the Lenders.
    • The Borrower shall bear all interest, tax, duties, cess duties and other forms of taxes including without limitation GST, value-added taxes, whether applicable now or in the future, payable under any law at any time in respect of any payments made to the Lenders under the Financing Documents. If these are incurred by the Lenders, these shall be recoverable from the Borrower and will carry interest at the rate of Overdue Interest Rate from the date of payment till reimbursement.
    • Notwithstanding any terms and conditions to the contrary contained in the Financing Documents, the amounts repaid by the Borrower shall be appropriated firstly towards the cost, charges, expenses and other monies; secondly towards Overdue Interest Rate, if any; thirdly towards Interest, and lastly towards repayment of principal amount of a Credit Line.
    • Interest (if applicable), Overdue Interest Rate and all other charges shall accrue from day to day and shall be computed on the basis of 365 days a year and the actual number of days elapsed.
    • If the due date for any payment is not a Business Day, the amount will be paid by Borrower on immediately succeeding Business Day.
    • All sums payable by the Borrower to the Lenders shall be paid without any deductions whatsoever. Credit/ discharge for payment will be given only on realisation of amounts due.
    • The Borrower acknowledges that the rate of interest, penal charges, service charges and other charges payable and or agreed to be paid by the Borrower under Financing Documents are reasonable and acceptable to him/ her.

  5. MODE OF PAYMENT, REPAYMENT AND PREPAYMENT

    • The Borrower shall, as required by the Lenders from time to time provide the Repayment Instruments for payment of Borrower’s Dues. The Borrower/s shall honour all payments without fail on the first presentation of Repayment Instruments and on each of the Due Dates. Repayment Instruments provided by the Borrower/(s) may be utilised by the Lenders for the realisation of any Borrower’s Dues. The Borrower hereby unconditionally and irrevocably authorises the Lenders to take all actions required for such realisation. The Borrower shall promptly (and in any event within seven (7) days) replace the Repayment Instruments executed for payment of Borrower’s Dues as may be required by the Lenders from time to time at their absolute discretion.
    • The Borrower shall at all times maintain sufficient funds in his/her/their bank account/s for the due payment of the Borrower’s Dues on respective Due Dates. Borrower shall not close the bank account/s from which the Repayment Instruments have been issued or cancel or issues instructions to the bank or to the Lenders to stop or delay payment under the Repayment Instruments, and the Lenders are not bound to take notice of any such communication.
    • The Borrower agrees and acknowledges that the Repayment Instruments have been issued voluntarily in the discharge of the Borrower’s Dues and not by way of security for any purpose whatsoever. The Borrower also acknowledges that the dishonour of any PDC/NACH is a criminal offence under the Negotiable Instruments Act, 1881/The Payment and Settlements Act, 2007. The Borrower/s shall be liable to pay dishonour charges for each Repayment Instrument dishonour (as prescribed in these Terms).
    • Any dispute or difference of any nature whatsoever shall not entitle the Borrower to withhold or delay payment of any EMIs or other sum, and the Lenders shall be entitled to present the Repayment Instruments on the respective Due Dates.
    • Notwithstanding the issuance of Repayment Instruments, the Borrower will be solely responsible for ensuring the timely payment of dues.

  6. BORROWER’S COVENANTS, REPRESENTATION AND WARRANTIES

    • The Borrower agrees/undertakes/confirms that they shall:
      • observe and perform all its Obligations under the Financing Documents;
      • immediately deliver to the Lenders all documents/information, including bank account statements as may be required by the Lenders from time to time. The Borrower also authorizes the Lenders to communicate independently with (i) any bank where the Borrower maintains an account and to seek details and statement in respect of such account from the bank and (ii) with any employer of any Borrower as the Lenders may deem necessary, including for monitoring Borrower’s creditworthiness;
      • immediately notify the Lenders of any litigations or legal proceedings against any Borrower;
      • notify the Lenders of any Material Adverse Effect or Event of Default;
      • notify the Lenders in writing of all changes in the location/ address of office /residence /place of business or any change/resignation/termination / closure of employment/ profession /business;
      • not leave India for employment or business or long-term stay abroad without fully repaying the Borrowers Dues;
      • provide security, if any, as specified in Financing Documents or as may be required by the Lenders in case of any change in the creditworthiness of any Borrower (as determined by the Lenders);
      • ensure deposit of salary and / or business proceeds in the account from which PDCs/NACH have been issued to the Lenders;
      • provide security, if any, as specified in Financing Documents or as may be required by the Lenders in case of any change in the creditworthiness of any Borrower (as determined by the Lenders).
      • ensure deposit of salary and/or business proceeds including by way of intimation/ instructions to its employer/s to transfer its salary, if applicable in the account from which PDCs/NACH have been issued to the Lenders.
      • that the Borrower confirms that the Lenders shall have the authority to approach the employer/s of the Borrower directly for repayment of Installments and/or any other charges/sums due from the Borrower/s to the Lenders including but not limited to that of the Borrower’s Due.
      • at all times comply with applicable laws, including, Prevention of Money Laundering Act, 2002;
      • utilise each Drawdown only for Purpose which shall be lawful and permitted as per applicable laws.
      • the calculation of each Lender with respect to the EMI, Interest Rate, Default Rate, Processing Fee, Documentation Charges, legal expenses, collection charges, cost and expenses, etc. shall be binding on the Borrower.
    • Each Borrower represents and warrants to each of the Lenders as under:
      • All the information provided by Borrower in the Credit Line Application Form and any other document whether or not relevant for ascertaining the creditworthiness of the Borrower is true and correct and not misleading in any manner;
      • The Borrower is capable of and entitled under all applicable laws to execute and perform the Financing Documents and the transactions thereunder;
      • The Borrower is above 18 years of age, and these Terms is a legal, valid and binding obligation on him/her, enforceable against him/her in accordance with its terms;
      • The Borrower declares that they are not prohibited by any law from availing this Credit Line;
      • No event has occurred which shall prejudicially effect the interest of the Lenders or affect the financial conditions of Borrower or affect his/her liability to perform all or any of their obligations under the Financing Documents;
      • The Borrower is not in default of payment of any taxes or government dues;
      • The Borrower will do all acts, deeds and things, as required by the Lenders to give effect to the terms of these Terms;
      • No bankruptcy and/or insolvency proceedings have been initiated/are pending against the Borrower;
      • The Borrower hereby creates a charge on the product in favor of the Lenders, if applicable,
      • All the representations and warranties given by the Borrower shall be subsisting and have a continuing effect at the time of each Drawdown and during the currency of the Credit Line;
    • The Borrower hereby consents that the Lenders and/ or his authorised representative may communicate with the Borrower either by phone calls, SMS, electronic mails or through any other mode of communication available for the purpose of discussing the current status of his Credit Line or reminder/ collection of any dues in respect of any Credit Line or for any matter related to the Credit Line and such phone calls, SMS, etc., shall not be covered under the purview of “Do Not Disturb” policy of the Telecom Regulatory Authority of India (TRAI). For this purpose, Borrower hereby grants permission to Lenders and Lenders’ Agent to contact him any time.
    • The Borrower irrevocably and unconditionally consents to Lenders, Lenders’ Agent recording of all the Borrower’s electronic communication (e.g. telephone calls, electronic mail, SMS, mobile application or other) and storage of electronic media by Lenders, Lenders’ Agent and accepts such recordings and electronic media as evidence with regard to acceptance of all the terms of the Credit Line including, but not limited to, the grant of the Loan, levy of any fee/ charges/interest. The Borrower further accepts that such record may be used by the Lenders, Lenders’ Agent as evidence in a court of law or any legal proceeding.
    • The Borrower gives its consent to each of the Lenders jointly and severally to use/store all the information provided by the Borrower or otherwise procured by the Lenders in the manner they deem fit including for the purposes of this Credit Line or for its business and understands and agrees that the Lenders may disclose such information to their contractors, agents and any other third parties.
    • In the event the Credit Line/Drawdown is for the purchase of any Product, the Borrower also undertake and covenant as below:
      • The Borrower shall not be entitled to an increase in the Credit Line amount by reason of any increase in the purchase price of any Product. However, in the event of any decrease in the purchase price, the Lenders may in their discretion reduce the principal amount of the sanctioned Credit Line.
      • The Vendor shall be exclusively responsible for delivery of the Product and the Lenders shall not be liable for any delay in delivery or non-delivery of the Product and/or with respect to the quality, condition, fitness, suitability or otherwise whatsoever of the said Product.
      • In the case of Product cancellation, the Lenders will treat the relevant Credit Line repaid only if the Vendor refunds the amount to the Lenders upon compliance by the Borrower with the refund policy of the Vendor. In case of such refund, the Lenders shall refund the EMI, if any, paid by the Borrower, less Interest if any for the period between purchase and refund, and treat the Credit Line/Drawdown as fully discharged. The processing fees will not be reimbursed and will be adjusted against the refund if any.
      • The Borrower shall not part possession or ownership of the Product or create any third- party rights thereon without the consent of the Lenders.
      • The Borrower shall not use or permit the use of Product for any purpose not permitted by the terms of the insurance policy if any, and not do or permit to be done any act or thing which might render the insurance invalid.
      • The Borrower shall not use the Product for unlawful or antisocial purposes and will use the same only for its own use and not for resale, barter or exchange or the like.

  7. EVENTS OF DEFAULTS

    • The following acts/events, as set out below, shall each constitute an “Event of Default” by the Borrower for the purposes of each Credit Line:
      • The Borrower fails to make payment of any Borrower’s Dues on Due Date;
      • Breach of any terms, covenants, representation, warranty, declaration or confirmation under the Financing Documents;
      • Any fraud or misrepresentation or concealment of material information by Borrower which could have affected the decision of the Lenders to grant any Credit Line;
      • Death, lunacy or any other permanent disability of the Borrower;
      • Borrower utilises the Drawdown for any purpose other than the Purpose;
      • The occurrence of any events, conditions or circumstances (including any change in law) which in the absolute opinion of the Lenders could have a Material Adverse Effect, including limitation of any proceedings or action for bankruptcy/liquidation/ insolvency of the Borrower or attachment/restraint of any of its assets.
      • Any default by the Borrower under any other agreement between the Borrower(s) and any creditor or any other agreement or indebtedness of the Borrower(s) or the performance of any covenant, term or undertaking there under or any indebtedness of any of the Borrower(s) is not paid when due or any creditor of the Borrower(s) becomes entitled to declare any such indebtedness due and payable prior to the date on which it would otherwise have become due or any guarantee or indemnity given by the Borrower is not honoured, when due and called upon.
    • The decision of the Lenders as to whether or not an Event of Default has occurred shall be binding upon the Borrower.

  8. CONSEQUENCES OF DEFAULT

    • Upon occurrence of any of the Events of Default and at any time thereafter, the Lenders shall have the right, but not the obligation to declare all sums outstanding in respect of the Credit Line, whether due or not, immediately repayable and upon the Borrower failing to make the said payments within 15 (fifteen) days thereof, the Lenders may at their discretion exercise any other right or remedy which may be available to the Lenders under any applicable law, including seeking any injunctive relief or attachment against the Borrower or their assets;
    • The Lenders shall also have the unconditional right to immediately take possession of the Product, if applicable.
    • The Borrower shall also be liable for payment of all legal and other costs and expenses resulting from the foregoing defaults or the exercise of the Lenders’ remedies.

  9. DISCLOSURES

    • The Borrower acknowledges and authorizes the Lenders to disclose all information and data relating to Borrower, the Credit Line, Drawdowns, default (if any) committed by Borrower to such third parties/ agencies as the Lenders jointly or severally may deem appropriate and necessary to disclose and/or as authorized by RBI, including the Credit Information Bureau (India) Limited (“CIBIL”). The Borrower/s also acknowledges and authorizes such information to be used, processed by the Lenders/ third parties/ CIBIL / RBI as they may deem fit and in accordance with applicable laws. Further in Event of Default, the Lenders and such agencies shall have an unqualified right to disclose or publish the name of the Borrower /or its directors/ partners/co-applicants, as applicable, as ‘defaulters’ in such manner and through such medium as the Lenders / CIBIL/ the Reserve Bank of India/ other authorized agency in their absolute discretion may think fit, including in newspapers, magazines and social media;
    • The Lenders will take the best endeavour to maintain the confidentiality imposed on it by applicable law. The Borrower hereby waives the privilege of privacy and defamation expressly. The Borrower further agrees and gives specific consent to the Lenders for disclosing/submitting the ‘financial information’ as defined in Section 3 (13 ) of the Insolvency and Bankruptcy Code, 2016 ( ‘Code’ for brief ) read with the relevant Regulations/ Rules framed under the Code, as amended and in force from time to time and as specified there under from time to time, in respect of the Credit/ Financial facilities availed from the Bank/ Lenders, from time to time, to any ‘Information Utility’ ( ‘IU’ for brief ) as defined in Section 3 ( 21 ) of the Code, in accordance with the relevant Regulations framed under the Code, and directions issued by Reserve Bank of India to the banks from time to time and hereby specifically agree to promptly authenticate the ‘financial information submitted by the Lenders, as and when requested by the concerned ‘IU’.
    • The Borrower shall not hold the Lenders responsible for sharing and/or disclosing the information now or in future and for any consequences suffered by the Borrower and/or other by reason thereof. The provisions of this clause shall survive termination of these Terms and the repayment of the Borrower’s Dues.
    • The entries made in records of Lenders shall be conclusive evidence of the existence and of the amount of Borrower’s Dues, and any statement of dues furnished by the Lenders shall be accepted by and be binding on the Borrower.
    • Borrower’s liability for repayment of the Borrower’s Dues shall, in the case where more than one Borrower have jointly applied for the Credit Line, be joint and several.
    • Borrower shall execute all documents and amendments and shall co-operate with the Lenders as required by the Lenders (i) to comply with any RBI guidelines / directives or (ii) for giving the Lenders full benefit of rights under the Financing Documents. Without prejudice to the aforesaid the Borrower hereby irrevocably consents that on its failure to do so, such changes shall be deemed to be incorporated in the Financing Documents and shall be binding on the Borrower.
    • Financing Documents shall continue to survive until the receipt by the Lenders of the Borrower’s Dues in full.
    • The Borrower acknowledges that the rate of interest, penal charges, service charges and other charges payable and or agreed to be paid by the Borrower under Financing Documents are reasonable and acceptable to him/ her.
    • Notwithstanding any suspension or termination of any Credit Line, all right and remedies of the Lenders as per Financing Documents shall continue to survive until the receipt by the Lenders of the Borrower’s Dues in full.
    • The Borrower acknowledges that the financing transaction hereunder gives rise to a relationship of debtor and creditor as between him/her/it and the Lenders and not in respect of any service rendered/to be rendered by the Lenders. Accordingly, the provisions of the Consumer Protection Act, 1986 shall not apply to the transaction hereunder.
    • The Borrower hereby authorise each of the Lenders to verify all information and documents including, income proof documents, residence documents, address proof documents, identity documents and other such documents containing personal and financial information as are submitted by the Borrower for obtaining any credit Line, and the Borrower also consents to subsequent retention of the same by the Lenders.
    • The Borrower hereby authorizes each of the Lenders to perform reference checks about the Borrower in the manner satisfactory to the Lenders.
    • The Borrower acknowledges and authorizes each of the Lenders to procure Borrower’s PAN No./copy of Pan Card, other identity proof and Bank Account details, from time to time and to generate/obtain CIBIL, Experian, Hunter reports and such other reports as and when the Lenders may deem fit.
    • The Borrower also authorizes each Lender to store all information provided by the Borrower in any jurisdiction as such Lender may deem fit.
    • In the event of any disagreement or dispute between the Lenders and the Borrower regarding the materiality of any matter including of any event occurrence, circumstance, change, fact information, document, authorization, proceeding, act, omission, claims, breach, default or otherwise, the opinion of the Lenders as to the materiality of any of the foregoing shall be final and binding on the Borrower.
    • The Borrower shall pay all stamp duty, registration cost, fees and out-of-pocket expenses incurred by it in connection with the preparation, execution and delivery of the Financing Documents and the other documents to be delivered hereunder. The Borrower agrees/s to indemnify and hold harmless the Lenders from and against any and all claims, damages, liabilities and expenses (including fees of counsel) which may be incurred by or asserted against the Lenders in connection with or arising out of any, investigation, litigation, or proceeding (whether or not the Lenders is party thereto) related to any use or proposed use of the proceeds of the debt by the Borrower.The Borrower shall indemnify the Lenders and keep the Lenders indemnified in respect of any actions, claims, costs, damages, demands, expenses, losses and liabilities made against, suffered or incurred by the Lenders arising directly or indirectly from or in connection with: (i) Any failure by the Borrower to comply with the provisions of the Financing Documents;and/or (ii) Any liability including third-party liability and/or (iii) Any claims, losses, demands, actions, costs, expenses and liabilities incurred or suffered by the Lenders because of the representations and warranties are given by the Borrower being false or untrue in a material respect.
    • In case of multiple Borrowers, (i) each Borrower agree to act as agent of the other, any obligation undertaken by a Borrower in favour of the Lenders shall be binding on the other; (ii) each Borrower agree that each of them shall have a joint and several liability and responsibility to discharge all and any Obligations towards the Lenders as per terms of this these Terms and other Financing Documents.
    • The grant of the Credit Line by the Lenders shall not vest in the Borrower or any other person a right to claim any damages from the Lenders, for any reason whatsoever.
    • All covenants, representations, warranties of the Borrower under the Financing Documents shall continue in full force and effect until all obligations have been satisfied. The indemnification Obligations of the Borrower shall also survive termination of the Financing Documents and shall be deemed to be continuing and in full force and effect, subject to applicable laws. Further, all clauses of the Financing Documents, which are expressly stated as surviving termination of the Financing Documents, shall survive the termination of the Financing Documents.
    • The Borrower expressly recognizes and accepts that the Lenders shall jointly or severally without prejudice to their rights to perform such activities themselves or through their office employees be entitled and have full power and authority so to appoint one or more third parties (hereinafter referred to as “Service Providers”) as the Lenders may select and to delegate to such party all or any of their functions, rights and power under Financing Documents relating to the sourcing, administration, monitoring of the Credit Line and to perform and execute all lawful acts, deeds, matters and things connected therewith and incidental thereto including sending notices contacting Borrower, receiving Repayment Instruments from the Borrower in favour of the Lenders.

  10. SEVERABILITY

    The Borrower acknowledges that each of his/her/its obligations under these Financing Documents is independent and severable from the rest. If any obligation is found not enforceable by a court of law, for any reason, the Borrower shall continue to remain bound by the other obligations stipulated herein. Each of the provision of the Financing Documents, if prohibited or unenforceable in any jurisdiction shall not invalidate the remaining provision of the Financing Documents.


  11. GOVERNING LAW AND JURISDICTION

    All Credit Line and the Financing Documents shall be governed by and construed in accordance with the laws of India; All disputes, differences and / or claims arising out of these presents or as to the construction, meaning or effect hereof or as to the right and liabilities of the parties under the Financing Documents shall be settled by arbitration in accordance with the provision of the Arbitration and Conciliation Act, 1996 or any statutory amendments thereof or any statute enacted for replacement therefore and shall be referred to the sole Arbitration of a person to be appointed by the Lenders.The place of arbitration shall be Delhi. The Arbitrator may lay down from time to time the procedure to be followed by him in conducting arbitration proceedings and shall conduct arbitration proceedings in such manner as he considers appropriate and is hereby expressly authorized to adopt such summary/fast-track procedure for conduct of the proceedings as she/he may deem fit, including dispensing with oral hearings and issue the award within six (6) months from the date the arbitral tribunal enters upon reference.The awards including interim awards of the arbitration shall be final and binding on all parties concerned. The arbitrator may pass the award without stating any reasons in such award; Further, the present clause shall survive the termination of Financing Documents. The Courts at Delhi, India shall have exclusive jurisdiction (subject to the arbitration proceedings which are to be also conducted in Delhi, India) over any or all disputes arising out of the Financing Documents.


  12. NOTICES

    • Any notice to be given to the Borrower in respect of Financing Documents shall be deemed to have been validly given if served on the Borrower or sent by registered post to or left at the address of the Borrower existing or last known business or private address. Any such notice sent by registered post shall be deemed to have been received by the Borrower within forty-eight (48) hours from the time of its posting. Any notice to the Lenders shall be deemed to have been valid only if received by the Lenders at its above-stated address.
    • The Borrower may approach Lenders in case of any grievances pertaining to the Credit Line.

  13. ASSIGNMENT

    • The Borrower shall not be entitled to jointly or severally transfer or assign all or any of their rights, obligations or duties under the Financing Documents to any person directly or indirectly or create any third-party interest in favour of any person without the prior written consent of the Lenders.
    • Assignments/Securitization/Participation by Lenders. Each Lender reserves the right to assign/sell/securitize the Credit Line forming part of the Credit Line, by transferring and/or assigning or otherwise all its right, title and interest which such Lenders deems appropriate and the Borrower hereby expressly agrees that in that event, without any prior permission of or intimation to the Borrower or any notice to the Borrower, subject to inter alia agreement between the Lenders. In the event of such transfer, assignment or securitization, the Borrower shall perform and be liable to perform their obligation under the Financing Documents to such assignee or transferor. In such event, the Borrower shall substitute the remaining Repayment Instruments in favour of the transferee/ assignee if called upon to do so by such Lender. The Borrower shall be bound to accept any such securitization and any such sale, assignment or transfer and the Borrower shall accept such other party/ies as creditors exclusively or as a joint creditor with the Lenders, or as a creditor exclusively with the right of the Lenders to continue to exercise all powers hereunder on behalf of any such other party. In the Event of Default, any cost in this behalf, whether on account of such sale, assignment or transfer or enforcement of rights and recovery of outstanding dues shall be to the account of the Borrower. The Borrower undertakes to pay third parties the difference between the Credit Line outstanding and the amount received by the Lenders in the event of transfer to a third party. The Borrower shall not assign, transfer or novate any interest in its rights and/or Obligations, without the prior written consent of the Lenders.
    • The Financing Documents shall be binding upon and inure to the benefit of the Borrower and the Lenders (as may be applicable) and their respective successors and assigns, except that the Borrower shall not have the right to assign its rights hereunder or any interest herein without the prior written consent of the Lenders. Each Borrower confirms/s that the Loan Details Sheet executed by one of the Borrower shall be conclusive evidence of the drawal of the Credit Line and undertake to perform corresponding Obligations.

  14. WAIVER

    Any omission or delay on the part of any of the Lenders, in exercising any of their rights, powers or remedy, upon failure by the Borrower in the due and punctual fulfillment of the obligations of the Borrower hereunder, shall not be deemed to constitute a waiver by the Lenders of any of their rights to require such due, punctual and full performance by the Borrower.


  15. INDEMNITY

    The Borrower hereby indemnifies, defends and holds each of the Lender, their employees, representatives and consultants harmless from time to time and at all times against any liability, claim, loss, judgment, damage, cost or expense (including, without limitation, reasonable attorney’s fees and expenses) as a result of or arising out of any failure by the Borrower to observe or perform any of the terms and conditions and obligations contained in the Financing Documents or Event of Default or the exercise of any of the rights by the Lenders under the Financing Documents, including for any enforcement of security or recovery of Borrower’s Dues.


  16. ACCEPTANCE

    I / We am / are aware that the Lenders shall agree to become a party to these Terms only after satisfying themselves with respect to all conditions and details filled by me / us in these Terms and other Financing Documents in consonance with the Lenders’ policy and on the basis of representations and warranties and undertaking made herein by me/us. I / We agree that these Terms shall be concluded and become legally binding on the date when the authorized officer of the Lenders sign this at Delhi or disbursement of the Credit Line, whichever is earlier. The content/s of these Terms has been read out, explained and interpreted to the Borrower in the language known to the Borrower and the same including various clauses stated in these Terms have been understood by the Borrower.


VOLUNTARY SUBMISSION OF AADHAAR DETAILS

By submitting the physical copy/image of Aadhaar Card via the StashFin App / Website, I confirm that I am voluntarily doing so at my own discretion for the purpose of establishing my identity / address proof while obtaining loan from StashFin and hereby consent for the verification of my Aadhaar to establish its genuineness through Quick Response (QR) code embedded in the Aadhaar Card or through such other acceptable manner as per UIDAI or under any Act or Law from time to time. StashFin have informed me that my Aadhaar shall be used as per requirements of law. StashFin have informed me that my Aadhaar will be stored along with my other details. I confirm that I will not hold StashFin or any of their legal entities or any of their officials responsible in case of any incorrect information provided by me.

DCB STASHFIN PREPAID CARD TERMS AND CONDITIONS


  1. Application
  2. The Cardholder acknowledges and understands that the DCB STASHFIN Card is being issued on the basis of his/her application.


  3. DCB STASHFIN Card Validity and Cardholder's Obligations

  4. Fees

  5. Lost or Stolen DCB STASHFIN Card

  6. Disputes

  7. Verified by Visa (VBV) – As and when introduced by DCB Bank Description of VBV
  8. Verified by Visa provides you with a way of increasing security for online transactions by reducing the chances of fraud for those transactions. Registering for Verified by Visa involves providing personal information to DCB Bank, which is then used to confirm your identity for future online transactions for which Verified by Visa is used. Verified by Visa also may be used for record keeping and reporting purposes, as well as to help resolve transaction disputes.


  9. Limitation of Liability

  10. Disclaimer of Warranties
  11. Schedule of Charges
  12. DCB Bank, at its discretion may reduce or waive any of the fees mentioned below. Such offers shall be communicated at the time of sourcing. The aforementioned Terms and Conditions together with below mentioned Schedule of Charges are subject to change from time to time at the sole discretion of DCB Bank. For updated Terms and Conditions, you may visit DCB Bank's website www.dcbbank.com:-

    Particulars Amount
    Annual fee / maintenance charge Nil
    Card issuance fee / processing fee Nil
    Card replacement fee INR 250.00 per replacement
    Cash withdrawal at ATM Every month First 10 withdrawals free; Thereafter per withdrawal - INR 20.00
    Card reload fee Nil
    PIN regeneration fee on App Nil
    Balance enquiry at ATM INR 8.00 per enquiry
    Balance enquiry on App Nil
    Transaction history on App Nil
    Block/ unblock card on App Nil

    *Service Tax as applicable will be levied on all the fees and charges mentioned above.





FEDERAL BANK STASHFIN PREPAID CARD TERMS & CONDITIONS

  1. GENERAL TERMS AND CONDITIONS

    • These terms and conditions ("Terms and Conditions") apply to and regulate the provisions of prepaid payment instruments namely StashFin Prepaid Cards (collectively “Prepaid Cards” or “Cards” or “PPIs”) provided by EQX Analytics Private Limited (the Company”). The PPIs are issued by Federal Bank.
    • By completing the sign-up process for availing any of the Cards, you are deemed to have expressly read, understood and accepted each and every Terms and Conditions mentioned herein. You agree to be bound by all the Terms and Conditions mentioned herein, as may be amended from time to time.
    • In this agreement, “We”, “Us” or “Our” refers to the Federal Bank, or the Company acting on behalf of Federal Bank. “You” or “Your” refers to the individual purchasing or using the Prepaid Card.

    1. DEFINITIONS
    2. In these Terms and Conditions, unless the contrary intention appears and/or the context otherwise requires, capitalized terms defined by: (i) inclusion in quotations and/ or parenthesis have the meanings so ascribed; and (ii) the following terms shall have the meanings assigned to them herein below:

      1. “Account” refers to a prepaid account with an account balance equivalent to amount loaded on the PPIs, for the purpose of monitoring the limits available on such PPIs.
      2. “Business Day” means a day other than a Sunday, 2nd or 4th Saturday of a Month or Public Holiday as defined under Section 25 of Negotiable Instrument Act, 1881 on which banks are open to transact business of banking.
      3. “Charges” means such levy, costs and charges levied by us for usage of the PPIs, as amended from time to time.
      4. “Customer” or “Holder” or “You” shall mean any person to whom the PPI is issued and who is authorised to hold and use the same against the value stored on such PPI.
      5. “Customer Care Centre” refers to contact centre provided by us for addressing all queries, complaints raised by the Customer or any details or information sought by the Customer in relation to the PPIs.
      6. “EDC” or “Electronic Data Capture” Machine means terminal, printer, other peripheral and accessory and necessary software on which the PPI can be swiped or used to initiate a transaction.
      7. “Internet Payment Gateway” means the protocol stipulated/to be stipulated by us authorizing the payments made using PPI over the internet upon authentication of the Customer.
      8. “KYC” shall mean Know Your Customer guidelines adopted by us for the purpose of identification and verification of the Customer, pursuant to the Regulations issued by Reserve Bank of India, from time to time.
      9. “Merchant Establishments” shall mean such physical establishments (including but not limited to stores, shops, restaurants, hotels, etc.) and Reloadable stores (in any type of electronic form including but not limited to e-commerce platforms, digital marketplaces, etc.) located in India, having a specific contract with us (or a contract through a payment aggregator / payment gateway / card network) for accepting PPI.
      10. “Payment Channel” shall mean various modes of transactions including but not limited to EDC/POS terminals/kiosks/Internet Payment Gateway/Mobile based payment solutions and various other modes as intimated by us from time to time.
      11. “Personal Identification Number (PIN)” is a numeric password provided to the Customer by us.
      12. “POS” or “Point of Sale” means electronic terminals maintained by Merchant Establishments in India at which the Customer can use the PPI.
      13. “PPI” shall mean a prepaid instrument which includes gift cards and meal cards that facilitates purchases against the value stored on such PPIs as defined in the Regulations.
      14. “Regulations” shall mean the master directions, circulars, notifications, rules, guidelines, regulations, etc. issued by Reserve Bank of India or any other competent authority related to issuance and operation of prepaid payment instruments in India, as amended from time to time.
      15. “Schedule of Charges” shall mean the details of fees or Charges as may be prescribed by us from time to time and displayed on our website.
      16. “Transaction” means any transaction initiated by the Customer using PPI at any Merchant Establishment.
      17. “Federal Bank” or “Issuer” shall mean The Federal Bank Ltd., a banking company within the meaning of the Companies Act, 2013 having its registered office at Federal Towers, P B NO 103, Aluva, Ernakulam - 683101. Kerala.
      18. “the Company” shall mean EQX Analytics Private Limited, a company within the meaning of the Companies Act, 2013, having its registered office at 60, Jawala Parshad Building, Kotla Mubarakpur, New Delhi - 110003.

    3. ISSUANCE AND USAGE OF PPI
      1. The PPI shall be the exclusive property of the Issuer.
      2. The PPI shall be valid only within the territory of India and for transactions in Indian Rupees only. The PPI cannot be used outside the territory of India or for any transactions denominated in foreign currency.
      3. The Customer shall be required sign on the reverse side of the PPI (if the PPI is in the card form) immediately upon its receipt. We reserve the right to reject or cancel any Transaction in absence of the signature or mismatch of the signature, without further notice or intimation to the Customer.
      4. The PPI shall not be transferable to other individual or third party under any circumstances.
      5. We shall not be liable to pay any interest on any balance maintained in the PPI at any point in time.
      6. The Customer agrees and confirms that the PIN shall, under no circumstances be revealed by the Customer to any relative or family members or third party. The Customer shall be solely responsible and liable for the consequences arising out of such unauthorized disclosure of PIN and/or unauthorized usage of the PPI. We disclaim all responsibility and liability arising out of or in connection with the unauthorized usage of the PPI and/or any loss or damage, whether direct or indirect, incurred by the Customer as a result of such misuse. If the Customer forgets or misplaces the PIN, the Customer should visit the website or mobile application or any other mode as may be made available by us for re-generation of PIN.
      7. We will inform or intimate the Customer 45 days prior to the expiry of the PPI through SMS on the registered mobile number of the Customer or as specified in the Regulations applicable from time to time. Customer needs to utilize the entire credit balance available on the PPI prior to its expiry. In case the Customer does not utilize the credit balance available on the PPI within the validity period, the Customer can approach us for renewal of the PPI. In case the Customer does not approach us within a specified period, the outstanding credit balance available on the PPI will be transferred to a fund in compliance with the Regulations.
      8. The Customer shall sign and retain all the charge slips generated for each of the Transaction consummated at a Merchant Establishment. We shall not be obliged to provide copies of the charge slips or transaction slips to the Customer. Any such request by the Customer will be at our sole discretion and provided such requests have been made by the Customer within forty-five (45) Business Days from the date of the Transaction. The Customer agrees that we shall be entitled to charge additional cost or charge for providing copies of the charge or transaction slips.
      9. Any charge or cost levied by the Merchant Establishment in relation to any Transaction shall be directly settled by the Customer with the Merchant Establishment. We shall not be liable or responsible, either directly or indirectly, for any act or omission on the part of the Merchant Establishment or the charges or cost levied by them in relation to the Transaction.
      10. All refunds and adjustments due to any Merchant Establishments on account of device error or communication link will be processed manually and the Account will be credited after due verification by us pursuant to the applicable rules, regulation and our internal policy . The Customer agrees that any subsequent Transactions will be accepted or honored only based on the available credit balance in the Account without taking into account any disputed amount under consideration by us. The Customer shall unconditionally keep us indemnified against any loss or damage caused to us on account of dishonoring the payment instructions as a result of insufficient funds in the Account. The Customer agrees that we shall be entitled to deduct the amount of such loss or damaged caused to us directly from the Account.
      11. The Customer undertakes to act in good faith at all times in relation to all dealings of the PPI. The Customer accepts full responsibility for any illegal or wrongful use of the PPI in contravention to the Terms and Conditions contained herein.
      12. The Customer hereby agrees not to use the PPI for making payment(s) of any goods and services, which is illegal under the laws. The PPI cannot be used for making purchases of prohibited or contraband products or services like lottery tickets, banned or prohibited magazines, participation in sweepstakes, purchase of bitcoins, payment for call-back services, etc.
      13. We do not take any responsibility for any loss, damage or injuries suffered or caused to the Customer in connection with the service, quality of goods and services provided by the Merchant Establishment, refusal to accept (conditional acceptance) the PPI by Merchant Establishment and inability (technical issues) to use the PPI at Merchant Establishment.
      14. The Customer hereby acknowledges and agrees that if there is no Transaction for a consecutive period of one (1) year on the PPI, subject to validity of the PPI, the same shall be made inactive by us after sending a notice to the Customer. The PPI can only be reactivated by us after validations and requisite due diligence, as stipulated from time to time.
      15. The Customer hereby agrees to receive SMS or email alerts from us for all Transactions done using the PPI. The SMS or email alerts from us shall stipulate debit and credit Transactions, balance available or remaining on the PPI or such other information or details as stipulated by us, from time to time.
      16. The Customer agrees that we may, at our sole discretion, utilize the services of external service provider(s) or agent(s) on such terms as required or necessary, for provisioning of the services in relation to the PPI.
      17. The Customer shall have access to Frequently Asked Questions (“FAQ”) as uploaded by us on our website, from time to time.

    4. BREACH
      1. In the event of any breach of these Terms and conditions by the Customer, we shall have the sole right to forthwith cancel or terminate the PPI without having any liability, claim, demand or dispute against us.
      2. The Customer undertakes and agrees to indemnify us against any loss, damage, claim, penalty, cost, charges or expenses (including legal counsel fees) that we may incur and/or suffer, whether directly or indirectly, as a result of the Customer committing any breach of the Terms and Conditions contained herein.

    5. TERM & TERMINATION
      1. The PPI shall be valid until the expiry date printed on the face of the PPI.
      2. The Customer agrees and undertakes to destroy the PPI upon its expiry.
      3. The Customer agrees that the PPI shall be defaced by cutting off the top right-hand corner, ensuring that both the hologram and the magnetic strip have been cut and has been destroyed or received by us. The Customer agrees that the Customer shall continue to be liable for any Charges incurred on the PPI prior to its termination, irrespective of the fact whether the Customer has or claims to have destroyed the PPI.
      4. We may at our sole discretion terminate the PPI if:
        1. the Customer is declared insolvent or in case of death of the Customer.
        2. the Customer committing breach of any of the terms, conditions, stipulations or its obligations under these Terms and Conditions.
        3. any restriction imposed on the Customer by an Order of a competent Court or Order issued by any regulatory or statutory authority in India or any investigating agency.
        4. the program becomes illegal under the applicable laws, and Regulations.
        5. the program is terminated.
      5. We, at our sole discretion, reserves the right to, either temporarily or permanently, withdraw the privileges on the PPI and/or terminate the PPI at any time without giving any notice or assigning any reason thereof. In case of a temporary withdrawal, the privileges attached to the PPI shall be reinstated by us at our sole discretion. In case of a permanent withdrawal, we have a right to cancel the PPI permanently. However, it is made distinctly clear that withdrawal (temporary or permanent) shall constitute automatic withdrawal of all benefits, privileges and services attached to the PPI. The Customer agrees that in the event of temporary or permanent withdrawal of the PPI, the Customer shall continue to be fully liable for all Charges incurred on the PPI prior to such withdrawal, together with all other applicable Charges thereon, unless otherwise specified by us.
      6. If we temporarily or permanently, withdraws the privileges or terminates the PPI, we will on best effort basis, promptly notify the Customer. We shall not be held liable or responsible for any such delays or laches in receipt of such notification.
      7. Upon termination of the PPI as stated above, the balance amount, if any lying in the Account will be refunded back to the source.

    6. CHARGES
      1. Charges shall include:

        1. Any fees charged by us in respect of the PPI, including replacement, renewal, handling and other fees, if any.
        2. Service Charges on specific types of Transactions. The method of computation of such Charges will be as notified by We from time to time.
      2. Charges shall be non-refundable, non-transferrable and non-assignable in nature.
      3. All Charges, in the absence of manifest error, shall be final and binding on the Customer and shall be conclusive in nature.
      4. All statutory taxes including goods and service tax, imposts, duties (of any description whatsoever) as may be levied from time to time by Government of India or other competent authority in respect of or in connection with the PPI, shall be borne by the Customer.
      5. All Charges related to the PPI will be debited from the Account, as may be levied from time to time. The Customer shall become liable to pay as soon as a charge has been incurred by use of the PPI.

    7. LOST, STOLEN OR MISUSED PPI:
      1. If the PPI is lost or stolen, the Customer must immediately report such loss or theft to Customer Care Centre and request for immediate suspension of the PPI.
      2. The Customer acknowledges that once the PPI is reported lost, stolen or damaged, such PPI cannot be used again, even if found subsequently.
      3. The Customer is responsible for the security of the PPI and shall take all steps towards ensuring that the PPI is not misused. In the event we determines or receives any information that the Customer has neglected or refused or failed to take steps as indicated above, in case of loss, theft or destruction of the PPI, we reserve the sole right to cancel or terminate such PPI.
      4. No liability shall accrue upon the Customer for any unauthorized transactions done on the PPI, after such PPI has been reported lost, stolen or damaged by the Customer. All liabilities accrued on the PPI, post reporting by the Customer shall be borne by us. However, in case of any dispute relating to the time of reporting and/ or transaction(s) made on the PPI, post reporting of the PPI being lost, stolen or misused, all our decisions shall be final and binding on the Customer.

    8. EXCLUSION OF LIABILITY
    9. We shall be under no liability or responsibility to the Customer or any third party, in respect of any special, indirect, incidental, consequential, punitive or exemplary loss or damage including, but not limited to, lost profits in connection with this arrangement.


    10. DISPUTED TRANSACTIONS
      1. Any charge or Transaction slip or other payment requisition received by us for payment shall be conclusive proof of such Charge, unless the PPI is lost, stolen or fraudulently misused and evidenced by the Customer.
      2. All disputed Transactions in relation to the PPI shall be required to be raised with our Customer Care Centre, within fifteen (15) Business Days from the date of the disputed Transaction. The Customer acknowledges that any request, after fifteen (15) Business Days from the date of the disputed Transaction shall not be accepted by us.

    11. QUALITY OF GOODS AND SERVICES
    12. Any dispute with or complaint against any Merchant Establishment regarding any goods purchased or services availed must be directly resolved by the Customer with the Merchant Establishment.


    13. DISCLOSURES
      1. The Customer acknowledges and consents to sharing of information pertaining to the Customer and the usage of the PPI with any other banks or financial or statutory or regulatory authorities only in case of any financial misuse/fraud/legal cases where RBI, any regulatory authority, Government of India or Court directs us to disclose such information.
      2. The Customer acknowledges and agrees that we may report to any other banks or financial or statutory or regulatory authorities, any Customer delinquencies and/or the usage of the PPI only in case of any financial misuse/fraud/legal cases where RBI, any regulatory authority, Government of India or Court directs us to disclose such information. We shall not be obliged to disclose the details of such banks or financial or statutory or regulatory authorities to the Customer, including the extent of such disclosure unless RBI, any regulatory authority, Government of India or Court expressly permits us to disclose the name of the said financial entity.
      3. The Customer hereby authorizes us and our agents to exchange, share or part with all the information relating to the Customer’s details and payment history with our group companies or Affiliates only in case of any financial misuse/fraud/legal cases where RBI, any regulatory authority, Government of India or Court directs us to disclose such information.

    14. GOVERNING LAW AND JURISDICTION
    15. All disputes arising in relation to these Terms and Conditions shall be governed by and construed in accordance with the laws of India and shall be subject to the exclusive jurisdiction of the Courts of Kochi, Kerala


    16. AMENDMENT OF THE TERMS AND CONDITIONS
      1. We reserve the sole right to change, these Terms and conditions, features and benefits offered on the PPI, including but not limited to Charges.
      2. We shall communicate the amended Terms and Conditions by hosting them on our website or in any other manner as decided by us.
      3. The Customer shall be responsible for regularly reviewing these Terms and Conditions, including amendments thereto as may be posted on our website and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the PPI.

    17. CUSTOMER GRIEVANCE REDRESSAL
      1. In the event of any dispute or grievance in relation to the PPI and/or these Terms and Conditions, the Customer may contact the Customer Care Centre on details available on the website.
      2. In the event the dispute or grievance in relation to the PPI and/or these Terms and Conditions is not adequately addressed or resolved by We Customer Care Centre, the Customer may approach the Nodal Officer, details of which can be found on our website.
      3. We agree that all complaints, disputes or grievance raised by the Customer shall be addressed and/or resolved in a time bound manner.
      4. The Customer may at any time approach the Banking Ombudsman for the grievance redressal. The list of Banking Ombudsman is available on the website of Reserve Bank of India i.e. www.rbi.org.in.



  2. TERMS AND CONDITIONS FOR MEAL CARD
  3. This section lays out the Terms and Conditions which shall be applicable only to the Meal Card(s) issued by Issuer.


    1. DEFINITIONS
    2. For the purposes of this section “Meal Card” shall mean the meal card issued by the Issuer and provided by us, which can be used for purchasing food and non-alcoholic beverages only.


    3. CHARACTERISTICS OF MEAL CARD
      1. Meal Card can be used at Merchant Establishment(s) for purchase of food and non-alcoholic beverages only.
      2. Meal Card cannot, under any circumstances, be exchanged for cash or be used for purchase of any other goods & services including another prepaid payment instrument.
      3. Meal Card is reloadable in nature.
      4. Meal Card cannot be used at any ATM for cash withdrawals or for any other activity at an ATM.
      5. Meal Card cannot be used for fund transfer.

    4. ACCEPTANCE AND USAGE OF MEAL CARD
      1. Upon completion of KYC formalities Customer will be able to use the Meal Card for the maximum limit as prescribed under the Regulations from time to time. At present, the KYC formalities and maximum limit prescribed is as follows:
        1. Upto Rs. 10,000/- by accepting minimum details of the Customer:
          1. The minimum details shall include mobile number verified with One Time Pin (OTP) and self-declaration of name and unique identification number of any of the ‘officially valid document’ defined under Rule 2(d) of the PML Rules 2005, as amended from time to time.
          2. The amount loaded in such Meal Cards during any month shall not exceed Rs.10,000/- and the total amount loaded during the financial year shall not exceed Rs.1,00,000/-.
          3. The total amount debited from such Meal Cards during any given month shall not exceed Rs. 10,000/-.
          4. The Meal Cards issued under this type shall be converted into KYC compliant Meal Cards within a period of 12 months from the date of issue of the Meal Cards. If not done, no further reload shall be allowed in such Meal Cards. However, the Customer shall be allowed to use the balance available in the Meal Card.
        2. Upto Rs. 1,00,000/- after completing KYC of the Customer:
          1. KYC requirements are specified under the Regulations issued by Reserve Bank of India and/or any other competent authority constituted by Government of India and/or Ministry of Finance, Ministry of Electronics & Information Technology or such other competent Ministry working under the instructions of Government of India from time to time.
          2. After completion of the KYC formalities, the amount outstanding on the Meal Cards shall not exceed Rs.1,00,000/- at any point of time.
      2. We shall not be held responsible with regards to the quality of food and non-alcoholic beverages served or delivered to the Customer by the Merchant Establishment.
      3. The Meal Card shall be used only for bonafide personal purposes. It is clarified that Charges incurred at certain Merchant Establishments, include a charge for availing certain additional services or other facilities by such Merchant Establishments.
      4. The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other PPI cannot be credited in the Meal Card.
      5. The Customer hereby acknowledges and agrees that the Meal Card can be reloaded as per the request placed by the corporate.

    5. SCHEDULE OF CHARGES

    6. Particulars of Charges Amount (in Rs.)
      Card Replacement INR 250.00 per replacement
      Card withdrawal at ATM Every month first 10 withdrawals free. Thereafter per withdrawal – INR 20.00.
      Balance Enquiry at ATM INR 8.00 per enquiry
      Registration Code Reissuance -
      Charge slip Retrieval Request -

      Note: The above Charges are exclusive of all taxes. All taxes as applicable will be levied in addition to the Charges mentioned above.




  4. TERMS AND CONDITIONS FOR GIFT CARD
  5. This section lays out the Terms and Conditions which shall be applicable only to the Gift Card(s) issued by the Issuer.


    1. DEFINITION
    2. For the purposes of this section “Gift Card” shall mean gift card (including all its variants) issued by the Issuer and provided by us, which can be used for purchasing goods and services.


    3. CHARACTERISTICS OF GIFT CARD
      1. Gift Card cannot, under any circumstances, be exchanged for cash.
      2. Gift Card is non-reloadable in nature.
      3. Gift Card cannot be used at any ATM for cash withdrawals or for any other activity at an ATM.
      4. Gift Card cannot be used for fund transfer.

    4. ACCEPTANCE AND USAGE OF GIFT CARD
      1. Maximum value which can be loaded on each Gift Card will not be more than Rs. 10,000/-.
      2. We shall not be held responsible with regards to the quality of goods and services provided to the Customer by the Merchant Establishment.
      3. The Gift Card shall be used only for bonafide personal / official purposes. It is clarified that Charges incurred at certain Merchant Establishments, include a charge for availing certain additional services or other facilities by such Merchant Establishments.
      4. The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other PPI cannot be credited in the Gift Card.

    5. SCHEDULE OF CHARGES

    6. Particulars of Charges Amount (in Rs.)
      Card Replacement INR 250.00 per replacement
      Cash withdrawal at ATM Every month first 10 withdrawals free. Thereafter per withdrawal – INR 20.00.
      Balance Enquiry at ATM INR 8.00 per enquiry
      Registration Code Reissuance -
      Charge slip Retrieval Request -

      Note: The above Charges are exclusive of all taxes. All taxes as applicable will be levied in addition to the Charges mentioned above.




  6. TERMS AND CONDITIONS FOR RELOADABLE CARD (OTHER THAN MEAL CARD AND GIFT CARD)
  7. This section lays out the Terms and Conditions which shall be applicable only to the Reloadable Card(s) issued by us.


    1. DEFINITION
    2. For the purposes of this section “Reloadable Card” shall mean physical or Reloadable cards issued by the Issuer and provided by us, which can be used for purchasing goods and services.


    3. CHARACTERISTICS OF RELOADABLE CARD
      1. Reloadable Card cannot, under any circumstances, be exchanged for cash.
      2. Reloadable Card is reloadable in nature.
      3. Reloadable Card cannot be used at any ATM for cash withdrawals or for any other activity at an ATM.

    4. ACCEPTANCE AND USAGE OF RELOADABLE CARD
      1. Upon completion of KYC formalities Customer will be able to use the Reloadable Card for the maximum limit as prescribed under the Regulations from time to time.

        At present, the KYC formalities and maximum limit prescribed is as follows:


        1. Upto Rs. 10,000/- by accepting minimum details of the Customer:
          1. The minimum details shall include mobile number verified with One Time Pin (OTP) and self-declaration of name and unique identification number of any of the ‘officially valid document’ defined under Rule 2(d) of the PML Rules 2005, as amended from time to time.
          2. The amount loaded in such Reloadable Cards during any month shall not exceed Rs.10,000/- and the total amount loaded during the financial year shall not exceed Rs.1,00,000/-.
          3. The amount outstanding at any point of time in such Reloadable Cards shall not exceed Rs.10,000/.
          4. The total amount debited from such Reloadable Cards during any given month shall not exceed Rs. 10,000/-.
          5. The Reloadable Cards issued under this type shall be converted into KYC compliant Reloadable Cards within a period of 12 months from the date of issue of the Reloadable Cards. If not done, no further reload shall be allowed in such Reloadable Cards. However, the Customer shall be allowed to use the balance available in the Reloadable Card.
        2. Upto Rs. 1,00,000/- after completing KYC of the Customer:
          1. KYC requirements are specified under the Regulations issued by Reserve Bank of India and/or any other competent authority constituted by Government of India and/or Ministry of Finance, Ministry of Electronics & Information Technology or such other competent Ministry working under the instructions of Government of India from time to time.
          2. After completion of the KYC formalities, the amount outstanding on the Reloadable Cards shall not exceed Rs. 1,00,000/- at any point of time.
      2. We shall not be held responsible with regards to the quality of goods and services provided to the Customer by the Merchant Establishment.
      3. The Reloadable Card shall be used only for bonafide personal / official purposes. It is clarified that Charges incurred at certain Merchant Establishments, include a charge for availing certain additional services or other facilities by such Merchant Establishments.
      4. The Customer acknowledges that all refunds in case of failed, returned, rejected or cancelled Transactions done by the Customer using any other PPI cannot be credited in the Reloadable Card.
      5. The Customer hereby acknowledges and agrees that the Reloadable Card can be reloaded as per the request placed by the corporate.


    5. SCHEDULE OF CHARGES

    6. Particulars of Charges Amount (in Rs.)
      Card Replacement INR 250.00 per replacement
      Cash withdrawal at ATM Every month first 10 withdrawals free. Thereafter per withdrawal – INR 20.00.
      Balance Enquiry at ATM INR 8.00 per enquiry
      Registration Code Reissuance -
      Charge slip Retrieval Request -

      Note: The above Charges are exclusive of all taxes. All taxes as applicable will be levied in addition to the Charges mentioned above.