(Wholly Owned by Govt. of India)
8. Authority to the Bank
The BANK shall have no obligation to verify the authenticity of any transaction received from the USER through or purporting to have been sent by the USER via
other than by means of verification of the User-ID and the password.
The display or printed output that is produced by the USER at the time of operation through Bank’s Internet access shall not be construed as the BANK's record.
The BANK’s own records of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes unless
any discrepancy is pointed out within a week from the date of sending the periodical statement to the USER or the updation of the passbook.
All transactions arising from the use of , to operate a joint account, shall be binding on all the joint account holders, jointly and severally.
9. Accuracy of Information
The USER is responsible for the correctness of information supplied to the BANK through the use of IndiaNetBank or through any other means such as electronic
mail or written communication. The BANK accepts no liability for the consequences arising out of erroneous information supplied by the USER. If the USER
suspects that there is an error in the information supplied to the BANK by him, he shall advise the BANK as soon as possible. The BANK will endeavour to correct
the error wherever possible on a ‘best efforts’ basis.
If the USER notices an error in the account information supplied to him through IndiaNetBank or by the use of any of the services, he shall advise the BANK as
soon as possible. The BANK will endeavour to correct the error promptly.
10. Liability of the USER and the BANK
If the USER has complied with the TERMS and advises the BANK in writing under acknowledgement immediately after he suspects that his User-Id or password is
known to another person and/ or notices an unauthorised transaction in his account, he shall not be liable for losses arising out of the unauthorised transactions
occurring in the accounts after the receipt of such advice by the BANK.
The USER shall be liable for any loss from unauthorised transactions in the accounts if he has breached the TERMS or contributed or caused the loss by
negligent actions
The BANK shall not be liable for any unauthorised transactions occurring which can be attributed to the fraudulent or negligent conduct of the USER.
The BANK shall in no circumstances be held liable to the USER if access is not available in the desired manner for reasons including but not limited to natural
calamity, floods, fire and other natural disasters, legal restraints, faults in the telecommunication network or Internet or network failure, software or hardware error
or any other reason beyond the control of the BANK. Under no circumstances shall the BANK be liable for any damages whatsoever whether such damages are
direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, investment, production, goodwill, profit, interruption of
business or any other loss of any character or nature whatsoever and whether sustained by the USER or any other person.
11. Indemnity
The USER shall indemnify and hold the BANK harmless against any loss suffered by the BANK, its customers or a third party or any claim or action brought by a
third party which is in any way the result of the improper use of IndiaNetBank by the USER.
12. Disclosure of PERSONAL INFORMATION
The USER agrees that the BANK or its contractors may hold and process his PERSONAL INFORMATION on computer or otherwise in connection with services
as well as for statistical analysis and credit scoring. The USER also agrees that the BANK may disclose, in strict confidence, to other institutions, such PERSONAL
INFORMATION as may be reasonably necessary for reasons inclusive of, but not limited to, the following:
• for participation in any telecommunication or electronic clearing network
• in compliance with a legal directive
• for credit rating by recognised credit scoring agencies
• for fraud prevention purposes
13.BANK's Lien
To the extent of all outstanding dues, whatsoever, arising as a result of the using IndiaNetBank Service extended to and/ or used by the USER, the BANK shall
have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the USER’s Primary Account and/ or
Secondary Account(s) or in any other account, whether in single name or joint name(s),
14. Proprietary Rights
The USER shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying or create any derivative product based on
the software.
The USER acknowledges that the software underlying the IndiaNetBank SERVICE as well as other Internet related software which are required for accessing are
the legal property of the respective vendors. The permission given by the BANK to access will not convey any proprietary or ownership rights in the above
software.
15. Change of Terms and Conditions
The BANK has the absolute discretion to amend or supplement any of the TERMS at any time and will endeavour to give prior notice of fifteen days for such
changes wherever feasible except for changes to interest rates and/ or other variations that are subject to market changes. The BANK may introduce new services
within IndiaNetBank from time to time. The existence and availability of the new functions will be notified to the USER as and when they become available. The
changed terms and conditions applicable to the new IndiaNetBank services shall be communicated to the USER. By using these new services, the USER agrees
to be bound by the terms and conditions applicable.
16. Non-Transferability
The IndiaNetBank service shall be used only by the USER and it is not transferable under any circumstances.
17. Termination of service
The IndiaNetBank service can be terminated on the following grounds.
• Request by the USER by giving a written notice of at least 15 days to the BANK.
• The BANK may withdraw the facility anytime provided the USER is given reasonable notice under the circumstances.
• The BANK may suspend or terminate facilities without prior notice if the USER has breached these terms and conditions or the BANK learns of the death,
bankruptcy or lack of legal capacity of the USER .