Paytm payments Bank

General Terms and Conditions

a. This document lays out the Terms and Conditions ("Terms") which shall be applicable to

all the accounts of any nature (Current/Saving/Wallet or any other product launched by

PPBL from time to time and all applicable features and services offered on the account)

which are existing or may be maintained anytime in future with PPBL. The words, "I",

"me", "my", "him", "his", "You" and "Customer" refer to the person(s) who open the

account and shall include both singular and plural. Reference to masculine shall include the

feminine and third gender. The terms may be accepted by individuals or entities/non

individuals such as corporates, partnership firms etc. and the terms within the document

need to be construed accordingly irrespective of the usage therein.

b. The terms and conditions in relation to the account set out below are applicable to and

binding on You in conjunction with the SSOID terms and conditions already accepted by

You. Each SSOID term or condition is applicable to and binding on You, or any of Your

activities on the Platform, even if such term or condition is not specifically reproduced

herein below. The terms “Agreement' or „T&Cs' mentioned herein below includes the terms

and conditions in relation to the account set out below, the SSOID terms and conditions,

and other service-specific terms and conditions in relation to Services or Platform.

c. By registering for or using the site or the platform/network or downloading the app, You

agree to be bound by these terms and the various products/services offered by PPBL shall

be governed by these terms and conditions.

d. If You do not accept these terms, please do not use the site or the platform/network or app.

e. The "Bank" or "PPBL" refers to Paytm Payments Bank Ltd. (including its successors and

assignees), a banking company incorporated in India under the Companies Act 2013 and

having its registered office at 136, First Floor Devika Tower, Nehru Place, New Delhi -

110019.

f. These Terms may be read as a stand-alone document or be read with other such documents

as may apply to a particular account/ service/ situation/ circumstance/ transaction. The

Customer acknowledges and agrees that PPBL may at its sole discretion add to, modify or

amend the Terms (including the Charges) from time to time and such changes shall be

communicated to the Customer. The Terms shall be available at PPBL branches and on

PPBL's website/app. PPBL may publish notices of general nature which are applicable to

the Customers on its website or on its notice board, or on the Customer's email address or

in any other mode as may be decided by PPBL. Such notices would have the same effect as

a notice served individually to each Customer. The Customer shall be given a period of 30

days from the issue of the notice, within which the Customer shall have to right to close the

Account or discontinue availing of the services, failing which he shall be deemed to have

accepted the change from the effective date mentioned in the notice. The Customer agrees

that the opening and maintenance of the Account and availing of the Services is subject to

the rules and regulations introduced or amended from time to time by the Reserve Bank of

India. In the event that any provision of these Terms is held to be in violation of any

applicable Law or if for any reason a court of competent jurisdiction finds any provision of

these Terms or portion thereof, to be unenforceable, that provision shall be enforced to the

maximum extent permissible so as to effect the intent of these Terms, and the remainder of

these Terms shall continue in full force and effect. The Customer shall be responsible to

keep himself updated and shall regularly check the terms and conditions, notices,

communications so sent and/or uploaded on PPBL website from time to time

g. 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. 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.

Terms:

1. 1. The Customer shall abide by PPBL's Terms and Conditions and rules as set out below and the

changes thereto as communicated through and/or made available on PPBL's website/mobile

banking application ("App") from time to time. Customer agrees that the opening and

maintenance of the account and/or availing of the banking products and/or services so offered by

PPBL are subject to rules and regulations introduced or amended from time to time by the

Reserve Bank of India ("RBI") or National Payments Corporation of India (“NPCI”) or any other

regulatory or statutory authority. The Customer hereby agrees and understands that PPBL

reserves sole discretion to accept or reject the Customer‟s application for opening and

maintenance of the account and/or for availing of banking products and/or services so offered by

PPBL and that the PPBL's decision in this regard would be final. The Customer further agrees

that the availment of and/or maintenance and/or operation of the account and/or banking

products and/or services so offered by PPBL shall be governed by various policies and/or

procedures and/or standards of PPBL and that the PPBL's decision in this regard would be final.

The Customer shall execute all necessary documents/forms and/or furnish all information and/or

comply with all the requirements so communicated by PPBL from time to time.

2. 2. Any amendment of any of these Terms proposed by You shall not be effective unless it shall

be reduced to writing through an amendment form and accepted by PPBL through its authorised

signatory. Amendments made under this clause shall be deemed to be a part of Terms and, in

case of any contradiction, the amendment form shall prevail. The Terms herein shall be subject

to the notifications / guidelines issued by RBI from time to time.

3. 3. Customer agrees that PPBL before entering into any relationship including, account based

relationship, will carry out due diligence as required under Know Your Customer ("KYC")

guidelines of the Bank pursuant to the directions issued by RBI. Customer shall submit necessary

documents or proofs, such as identity, address, photograph and any such information to meet

with KYC, Anti Money Laundering ("AML") or other statutory/regulatory requirements.

Further, after the opening of account, in compliance with the extant regulatory guidelines,

Customer agree to submit the above documents again at periodic intervals, as may be required by

PPBL. PPBL will not be responsible or liable for any violation by You of applicable law,

regulation, or guideline. You hereby declare that Your name does not, at anytime, appear in the

consolidated list of terrorist Individuals/ organizations as circulated by the Statutory, Regulatory

and Government authorities from time to time.

4. 4. Customer agrees that PPBL may, at its discretion, engage the services of Business Facilitators

(hereinafter referred to as "BF") and Business Correspondents (hereinafter referred to as "BC")

for extension of banking and financial services so as to ensure greater financial inclusion and

increasing the outreach of the banking sector. PPBL, however, shall be responsible for the acts

and omissions of such BC and BF.

5. 5. Customer agrees that, under normal circumstances, PPBL has the liberty to close the account

at any time by giving him 30 calendar days notice.

6. 6. Customer agrees that PPBL can at its sole discretion, amend any of the services/facilities

given in particular account either wholly or partially at any time by giving him notice and/or

provide an option to him to switch to other products/services/facilities.

7. 7. Any change in the account status or change of address or change in mobile number shall be

immediately informed by the Customer to PPBL, failing which Customer shall be responsible for

any non-receipt of communication/deliverables/transactional messages or the same being

delivered at the old address/mobile number so registered in the records of PPBL. The Customer

hereby agrees and understands that access to the electronic transaction services/mobile app of the

Customer may be restricted in case of invalid mobile number.

8. 8. Customer understands acknowledges that he shall immediately inform PPBL in case of any

change and/or deactivation of his registered number and shall duly get the same changed in the

records of PPBL. Customer shall be solely liable and shall keep PPBL indemnified against any

claim, suit, threat of suit, notice etc. in case of any delay or failure on part of the Customer to

inform the same to PPBL thereby leading to any unauthorized access to and/or usage of his

account details/credentials.

9. 9. PPBL shall not be liable for any consequences arising out of non-compliance by PPBL of

Customer's instructions due to inadequacy of funds.

10. 10. PPBL shall not be liable for any damages, losses (direct or indirect) whatsoever, due to

disruption or non availability of any of services/facilities due to technical fault/error or any

failure in telecommunication network or any error in any software or hardware systems beyond

the control of PPBL.

11. 11. In case of the accounts being opened by PPBL for minors, the same shall be opened in the

name of the minor and be subject to the completion of all the formalities by the guardian/parent

of such minor as required by PPBL including but not limited to providing consent for the

opening and maintenance of such minor accounts. The guardian/parent shall do, perform,

execute documents and/or undertake all necessary actions which PPBL may require in this

regard. Such accounts shall be self- operated by the minor account holder and all the Terms

contained herein shall apply to such minor accounts. The guardian/parent shall be solely and

exclusively bound by the Terms and the guardian/parent further agrees, confirms and undertakes

that he is solely and exclusively liable and responsible for all transactions undertaken by the

minor account holder in such account and/or towards any monies due and payable to PPBL

and/or any other third party arising out of the maintenance and operations of such minor

accounts. Upon the minor account holder attaining majority, the minor account shall be

converted to a regular account upon completion of the requisite formalities as required by PPBL.

12. 12. The Customer hereby is put to notice and understands that PPBL has adopted the security

procedure for authentication of the Customer by way of verification of the Customer‟s registered

mobile number in conjunction with the password for signing in to the App and/or the passcode

set by the Customer for undertaking transactions and/or any other procedure for authentication of

the Customer as informed by PPBL from time to time. The Customer understands that these

procedures are not recognized under Sections 3 and 5 of the Information Technology Act 2000

which lay down the procedure for authentication of electronic records providing that a subscriber

authenticate the same by affixing his digital signature and in relation to legal recognition to

digital signature for authentication of electronic records respectively. The Customer hereby

conveys full comprehension of and acceptance to the abovementioned security procedures

followed by PPBL and further agrees and understands that any unauthorized disclosure, access,

breach and/or use of the same can put the security of the Customer‟s account at risk. The

Customer therefore hereby agrees and understands that in order to avoid any legal risks arising

out of the usage of the abovementioned procedures of PPBL, the Customer shall maintain

complete confidentiality, secrecy, possession and protection of the mobile phone/device, App,

security procedure related details and/or verification parameters including but not limited to the

registered mobile number, password and passcode set by the Customer or any other procedure as

may be communicated by PPBL at its sole discretion.

13. 13. The Customer hereby understands and agrees that failure and/or delay by the Customer to

furnish details so required by PPBL to comply with its legal/statutory/regulatory obligations may

result in closure of the Account and/or placement of restrictions on the Account by PPBL after

due notice(s) to the Customer.

14. 14. Consent to Electronic Communications and Transactions

o 14.1 You consent to conduct Transactions and receive communications, notices and

information from us electronically, whether sent by e-mail or other electronic means.

Electronic communications shall be deemed to have been received by You when PPBL

sends an electronic communication to Your e-mail address/mobile number as per our

records, or when PPBL posts an electronic communication on the Platform.

o 14.2 PPBL may send any communications/letters etc. through courier/registered

post/messenger/email/SMS/in app notifications or through any other mode at its discretion

and PPBL shall not be liable for any delay arising there from or for any errors or issues in

the address/mobile number as provided by You. The same shall be the sole responsibility of

the Customer.

15. 15. Disclosure: In case any personal information or data is collected by PPBL, the same shall be

dealt with in accordance with PPBL‟s privacy policy which is available on PPBL‟s website.

16. 16. Records of Transactions:

The records of transactions of Bank shall be conclusive against and binding on You except in the

case of computation and/or manifest error.

17. 17. In case there are no transactions initiated by Customers in the account for a continuous

period of two years (excludes system generated transactions like credit interest, debit interest),

then the account would be treated as a 'Dormant' Account by PPBL 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 PPBL. Customer understand

that until the account status is 'Dormant', transactions through Direct Banking Channels like

ATM, Net Banking, Phone-banking. Debit Card may not be allowed by PPBL.

18. 18. Bank shall be entitled at its discretion to engage/avail of, at the risk and cost of the Customer,

services of any person/third party service provider/agent/agency, for anything required to be

done for/in relation to/pursuant to any of the products/services offered, getting or verifying any

information of the Customer/assets, and any necessary or incidental lawful acts/deeds/matters

and things connected thereto, as PPBL may deem fit.

19. 19. Intellectual Property Rights:

o a. PPBL shall remain absolute owner of all intellectual property rights belonging to it and

shall have the right to not return the application, the photographs, information and

documents submitted by the Customer.

o b. No part or parts of PPBL's website/App may be reproduced, distributed, republished,

displayed, broadcast, hyperlinked, transmitted, adapted, modified to create derivative works

or otherwise commercially exploited in any manner or by any means or stored in an

information retrieval system without Bank's prior written permission. You may view, print

or use PPBL's content for personal, non-commercial use only, provided further that You do

not modify the content and that You retain all copyright notices and other proprietary

notices contained in the content. The trademarks, service marks, and logo ("Trade Marks")

used and displayed in or through PPBL's App/website are registered or unregistered Trade

Marks of PPBL/others (as applicable). Nothing in PPBL's App/website will be construed as

granting, by implication, estoppels, or otherwise, any license or right to use any Trade

Marks displayed in or through PPBL's App/website, without Bank's written permission.

o c. PPBL, or its licensors, own all right, title and interest, including, but not limited to all

copyright, trademark, patent, trade secret or other proprietary rights (hereinafter IP Rights),

in and to the Platform, Services, various products including Paytm Wallet, Food Wallet or

usage data. You shall not reproduce, distribute, transmit, modify, create derivative works,

display, perform or otherwise use the Platform, Services or products or any of the IP

Rights, or attempt to reverse engineer, decompile, disassemble, or derive the source code

for the Platform, its products/services to create a competing product. Unauthorized use of

"Paytm" as a word, trademark, symbol, device mark or word mark, is strictly prohibited.

All rights are expressly reserved by PPBL to use the brand of "Paytm" in all its forms and

variations.

20. 20. PPBL reserves the right to record telephonic conversations with Customers for internal

quality control purposes and as an evidence in case of any disputes.

21. 21. Notwithstanding the documentation and account opening form (physical or digital) provided,

PPBL reserves the right to accept / reject the Customer's application. PPBL's decision in this

regard would be final.

22. 22. The banking products, may be made available through the internet/mobile banking platform

or any similar platform of PPBL (platforms through which the Customer can access/monitor the

account) and PPBL may use such platform for providing the Customer the facility to complete

online application as well. Every usage and operation of the internet banking or any such other

platform using Customer mobile device, should be deemed to be usage and operation personally

by the Customer himself and in physically and mentally stable state notwithstanding any loss,

theft, hacking etc. of the password; and that PPBL shall not be required to check the identity of

the person operating the internet/mobile banking account at any point of time or his mental or

physical stability

23. 23. Compromise of Account:

o a. Customer should contact PPBL immediately by raising a request through Contact Us'

section in the mobile App or by visiting/writing to our Main Branch (Address - Ground

Floor, B-121, Sector 5, Noida - 201301, Uttar Pradesh), 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 us at cybercell@paytmbank.com or on + 91

120 4621182/1187

o b. Customer must report the misuse of his/her account to the police and lodge an

FirstInformation Report ("FIR").

o c. Customer will not be liable for any misuse of account after he/she has informed PPBL of

the compromise and has received an acknowledgement from PPBL to that effect, unless

he/she has acted with gross negligence or malicious intent. Customer shall be liable for all

losses for any misuse that have happened with his/her consent or knowledge.

24. 24. Right to suspend/close/convert/terminate/ by PPBL: PPBL reserves the right to

suspend/discontinue its products/services to the Customer and/or to sever 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-

o i. For any suspected violation of the 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.

o ii. For any suspected discrepancy in the particular(s), documentation or Enrollment Form

provided by the Customer;

o iii. To combat potential fraud, sabotage, willful destruction, money laundering activities,

threat to national security, for any other force majeure reasons etc;

o 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.

o v. If the same is due to any transmission deficiencies caused by topographical and

geographical constraints/limitations;

o 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.

o vii. 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 PPBL.

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

o ix. if the customer is using the bank account as provisioned by PPBL in negative line of

business, as listed at: LOB

25. 25. Warranty:

o 25.1. 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 PPBL's

products/services or any data/content. While bank may apply such technology as it deems

fit to ensure the security of and prevent unauthorised 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

provide the products/services an "as is", "where is", "with all faults" basis.

o 25.2. Customer acknowledges that he/she has not solely relied on any

representation/warranty made by PPBL, service providers, subcontractors or agents and has

made independent assessment of bank's products/services. It is Your 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 PPBL'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.

26. 26. For our Customer Grievance Redressal Policy, please click here

27. 27. Indemnity:

o 27.1 Customer shall indemnify and hold PPBL/other Customers harmless against all

actions, claims, demands, proceedings, losses, damages, costs, charges and expenses

whatsoever which PPBL/other Customers may at any time incur, sustain, suffer or be put to

as a consequence of or by reason of or arising out of (i) providing any of the services

hereunder or due to any negligence/mistake/misconduct on Customers' part or (ii) breach or

non-compliance of any of the Terms relating to any of the products/services or (iii) by

reason of PPBL in good faith taking or refusing to take action on any instruction given by

the Customer or any breach of the representations, warranties, and covenants made by the

Customer. Customer agree and undertakes to fully indemnify Bank, its service providers,

subcontractors, and agents, and to hold each of the aforementioned parties harmless, from

and against all liabilities (including settlement sums), losses, charges and expenses

(including legal fees and disbursements), claims, demands, actions and proceedings which

Bank, its service providers, subcontractors and agents may incur, suffer or sustain directly

or indirectly from or by reason of or in relation to the use, misuse or purported use or

misuse of Bank's products/services, and will pay such monies to Bank upon its demand.

o 27.2 You hereby acknowledge that when PPBL acts on any notice, demand or other

communication sent by email by you or your authorized representative, or via other forms

of electronic or data transmission, PPBL, 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). You hereby indemnify and agree to keep PPBL indemnified against any loss,

liability, claim, suit, threat of suit or expense (including legal fees and expenses) that PPBL

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 PPBL.

28. 28. Right of Lien/Set off:

o 28.1 Customer hereby grants and confirms the existence of the right of lien and set-off with

PPBL, which PPBL may at any time without prejudice to any of its specific rights under

any other agreements with the Customer, at its sole discretion and without notice to

Customer utilize to appropriate any monies belonging to such Customer and

lying/deposited with PPBL or due by PPBL to the Customer, towards any of PPBL's dues,

overdrawings/overdrafts and outstandings, including any charges/fees/dues payable under

these Terms and Conditions.

o 28.2 Further, Customer hereby also grants and confirms the existence of the right of lien

and set-off with PPBL, which PPBL may at any time without prejudice to any of its

specific rights under any other agreements with the Customer, at its sole discretion and

without notice to Customer utilize and/ or appropriate any monies belonging to such

Customer and lying/deposited with PPBL or due by PPBL to the Customer and/ or any

balance monies lying and/or any monies deposited and/ or any future receivables by way of

deposit of the monies in Customer account/Wallet in order to recover funds for transactions

which are incorrectly or erroneously processed.

o 28.3 PPBL shall also be entitled to freeze operations in the account of a customer and/or to

the right of lien and set-off with or without notice, if PPBL is of the view and/or suspects

any omission and/or commission including but not limited to any malafides / fraud /

mischief / impersonation / phishing / hacking / unauthorized access etc., for such period as

it may deemed fit until it has received to its satisfaction the necessary clarifications as

sought from the Customer and/or until it is convinced that operations in the account can

recommence. The Customer shall forthwith furnish all clarifications/information sought by

PPBL and PPBL shall not be held responsible or liable for any losses, expenses, costs etc.

suffered or incurred by the Customer by reason of freezing of the account and/or on

account of the exercise of the right of lien and set-off by PPBL. PPBL shall also be entitled

to free the account or remit the amount standing to the credit of the account(s) whether

jointly or singly, as the case may be, to the concerned authority without any notice to the

Customer pursuant to the receipt of any notice or direction to that effect from any

statutory/regulatory/legal/investigative authorities.

29. 29. Damages & Limitation of liability:

o 29.1. Notwithstanding anything to the contrary PPBL, its successors, agents, assigns, and

each of their directors, officers, employees, associates, agents, and representatives shall in

no event be liable to the Customer or any other person for:

i. 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 PPBL's products/services and data/content or reliance on those, howsoever

caused and regardless of the form of action (including tort or strict liability);

ii. 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; and/or

iii. 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;

iv. 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 wilful default or gross negligence on the part of PPBL. Further PPBL

shall not be liable for any loss suffered by the Customer or any third party arising

from and in connection with the Customer's registration of, access to and use of

Bank's website/App except where such loss is solely and directly attributable to

PPBL's gross negligence or wilful default.

o 29.2. PPBL shall not be liable for any inconvenience, loss, cost, damage or injury suffered

by the Customer or any third party arising from or caused by:

a. Act or omission of any third party including but not limited to any equipment or

software providers, any service providers, any network providers (including but not

limited to telecommunications providers, internet browser providers and internet

access providers), or any agent or subcontractor of any of the foregoing;

b. Use of PPBL's by third persons/parties, whether authorised or unauthorised by the

Customer;

c. transfer of funds to the wrong mobile number/recipient/account by the Customer;

d. Theft or loss of the Customer's mobile phone/device, hardware and/or equipment

on which the app is installed;

e. The Customer's inability to effect or complete any transaction due to system

maintenance or breakdown/non-availability of the App/website or any network;

f. The Customer being deprived of the use of the App/website as a consequence of

any act or omission by PPBL for 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.

o 29.3 Notwithstanding anything to the contrary, in no event, shall PPBL or any of its

directors, employees, agents and/or personnel, be liable to You for any damages, liabilities,

losses, and causes of action arising out of or relating to: (i) this agreement, the platform or

any reference site, app, products or services; or (ii) Your use or inability to use the

reference site, app, products or services or any reference site; or (iii) any other interactions

with ppbl; however caused and whether arising in contract, tort including negligence,

warranty or otherwise, beyond or in excess rs. 5,000, or the amount as mentioned under the

rbi guidelines, whichever is less.

o 29.4 You acknowledge and agree that PPBL has offered its products and services, set its

prices, and entered into this Agreement 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 You and

PPBL, and that the warranty disclaimers and the limitations of liability set forth herein form

an essential basis of the bargain between You and PPBL.

o 29.5 PPBL would not be able to provide the services to You on an economically reasonable

basis without these limitations. This section shall survive the termination of this

Agreement.

30. 30. Force Majeure:

o a. PPBL shall not be liable if any transaction does not fructify or may not be completed or

for any failure on part of PPBL to perform any of its obligations under these Terms, or

those applicable specifically to its services/facilities if performance is prevented, hindered

or delayed by a Force Majeure event (defined below) and in such case its obligations shall

be suspended for so long as the Force Majeure event continues.

o b. "Force Majeure Event" means any event due to any cause beyond the reasonable control

of PPBL, 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.

31. 31. Governing Law and Jurisdiction:

o 31.1. All claims, matters and disputes are subject to the sole and exclusive jurisdiction of

the competent courts in New Delhi only. These Terms and Conditions and/or the operations

in the accounts of the Customer maintained by PPBL and/or the use of the services

provided by PPBL shall be governed by the laws of the Republic of India and no other

nation. PPBL accepts no liability whatsoever, direct or indirect, for non-compliance with

the laws of any country other than the Republic of India.

o 31.2. The Paytm Wallet is governed by RBI direction on Issuance and Operation of Prepaid

Payment Instruments in India (Reserve Bank) Directions, 2009 (as amended and

supplemented from time to time) and is also subject to directions / instructions issued by

the RBI from time to time in respect of redemption, repayment, usage, etc. PPBL will not

be responsible or liable for any violation by You of any applicable law, regulation, or

guideline. You hereby declare that Your name does not, at any time, appear in the

consolidated list of terrorist individuals/organizations or on any such list of persons

engaging in unlawful activities as circulated by the RBI or any government department or

agency from time to time.

o 31.3. In case of any complaint relating to the features of any of the products/services of

PPBL, Customer can approach the Grievance Redressal Cell within PPBL for a resolution

and if they do not get a satisfactory response within 30 days of lodging the complaint, then,

under the Banking Ombudsman Scheme 2006, details of which are available at

www.bankingombudsman.rbi.org.in.

32. 32. Miscellaneous:

o 32.1 In the event that any provision of these Terms is held to be in violation of any

applicable Law or if for any reason a court of competent jurisdiction finds any provision of

these Terms or portion thereof, to be unenforceable, that provision shall be enforced to the

maximum extent permissible so as to effect the intent of these Terms, and the remainder of

these Terms shall continue in full force and effect.

o 32.2 The failure of PPBL to exercise or enforce any right or provision of the the T&Cs or

this Agreement will not constitute a waiver of such right or provision. Any waiver of any

provision of the T&Cs or this Agreement will be effective only if in writing and signed by

PPBL. To the maximum extent permitted by law.

33. 33. Assignment

o 33.1. These Terms and any rights granted hereunder, may not be transferred or assigned by

You without PPBL's prior written consent which may be withheld in PPBL's sole

discretion., but these terms and any rights granted hereunder, may be assigned by PPBL

without any restriction.

o 33.2. PPBL's privacy policy applies to use of the Platform, and its terms are made a part of

these T&Cs by this reference. Additionally, by using the Platform, You acknowledge and

agree that Internet transmissions are never completely private or secure. You understand

that any message or information You send to the Platform may be read or intercepted by

others, even if there is a special notice that a particular transmission (for example, credit

card information) is encrypted.

Debit Card

These Terms apply to the issuance and usage of Debit and ATM card and shall be in

addition to and not in derogation of the general terms and conditions of PPBL.

1. I. Definitions

o I.1. Unless indicated otherwise, the capitalized terms listed below shall have the following

meanings:

“Account” shall mean all present and future account(s) of the Customer (held in any

form whatsoever including but not limited to the services and any kind of banking

relationship), operated either singly or jointly at PBBL.

“Account Holder” shall mean the Account holder above the age of 18 years.

"ATM" means any Automated Teller Machine in India, whether of PPBL or a shared

network, at which the Cardholder can use his Card to access his funds in his Account.

"Business Correspondent (BC)" shall mean a bank representative engaged by PPBL

for extension of banking and financial services so as to ensure greater financial

inclusion and increasing the outreach of the banking sector.

"BC App" shall mean a mobile application for Business Correspondent for providing

the banking services.

"BC Point" shall means the retail business correspondent points engaged by PPBL

through which banking services are provided PPBL‟s Customer.

"Card" shall mean the personalized or non-personalized Debit and ATM card in

electronic or physical format issued by PPBL under the aegis of Card Schemes.

"Card Schemes" shall mean organisations or card networks (including but not limited

to VISA, MASTERCARD, RUPAY etc.) that process and settle debit card

transactions as per the relevant rules formulated by such organisations or card

networks.”

"Cardholder" shall mean the Account Holder to whom the Card linked to the Account

has been issued by PPBL.

"Instant Debit Card („IDC‟) is a non-personalised card issue by PPBL to its Customer

under the aegis of various Card Schemes. “International Transaction” shall mean the

Transactions initiated by the Cardholder on his Card outside of India."

"Merchants" shall means any person who owns or manages or operates a Merchant

Establishment.

"Merchant Establishment" shall mean and include physical Merchants, online

Merchants (including POS and E-commerce) and any other outlet that has been

authorized by PPBL to accept payments using the Card.

"OTP" shall mean one time password valid only for a single transaction or login

session to authenticate the Customer.

"PIN" means the Personal Identification Number allocated in relation to the Card to

the Cardholder by PPBL or as chosen by the Cardholder and/or PPBL from time to

time.

"POS" means the point of sale (POS) electronic terminals in India or outside India,

which amongst other things are capable of processing Card transactions and/or where

the Cardholder can use his Card to access the funds from the Account linked with the

Card to make purchases at various merchant establishments in accordance with

policies stipulated by PPBL and/or regulatory requirements from time to time.

1. 1. Issuance of Card

o 1.1 The Card shall be issued by PPBL in the name of Cardholder to transact online and

provides access to the Account.

o 1.2 The Card shall be issued by PPBL to the Cardholder in electronic format upon the

opening of the Account or in physical format (only upon the specific request of the Card

Holder).At the time of issuance/re-issuance, all Cards (physical and virtual) shall be

enabled for use only at contact based points of usage i.e. ATMs and POS devices within

India.

o 1.3 For any international transaction, the debit card needs to be activated/enabled for the

international usage, Customer may raise the request to PPBL to enable international

transaction on his/her Card. PPBL reserves the sole discretion based on the risk perception,

whether to disable the Card domestic and international transactions/international

transaction or any contactless transaction rights and the Card which have never been used

for any online/international/contactless transaction by the Cardholder shall be mandatorily

disabled.

o 1.4 The Customer can raise a request for the issuance of physical Card through Paytm App

or BC point.

o 1.5 The personalized card in physical format may be issued to the Card Holder for domestic

or international usage only.

o 1.6 For the activation of the Card, Card Holder can activate the Card through Net Banking

Panel, or through QR Code issued by PPBL or through IVR call.

o 1.7 PPBL may at its sole discretion issue a Card in physical format to the Cardholder and

the application of the Account Holder in this regard may be rejected by PPBL without

assigning any reasons whatsoever.

o 1.8 The Card issued by PPBL shall contain information such as the name of the Cardholder,

Card Number, CVV, Expiry Date, QR Code therein.

2. 2. Fees and Charges

o 2.1 No issuance or transaction-based fee or charges would currently be levied by PPBL for

the Card issued in electronic format. However, PPBL reserves the right at any time to

charge the Cardholder for the issue or reissue of a Card in electronic format and/or any

fees/charges for the transactions carried out by the Cardholder on the Card after due

intimation to the Cardholder.

o 2.2 The Customer can view the schedule of fees and/or charges applicable for the Cards in

physical format at https://www.paytmbank.com/ratesCharges.html. PPBL shall be entitled

to debit, at its sole discretion and at any point of time, the fees and/or charges due and

payable by the Customer in respect of the Cards in physical format, from the Customer‟s

bank account and in case of any insufficiency of funds in the Customer‟s bank account,

from the Customer‟s wallet.

o 2.3 Any government charges, duty or debits, or tax payable as a result of the use of the

Card shall be solely the Cardholder's responsibility and if imposed PPBL shall debit such

charges, duty or tax against the bank account.

3. 3. Dispatch of the Card:

o 3.1 Dispatch of the Card where the issuance request raised by the Customer through Paytm

App:

a. The Card shall be dispatched by PPBL to the Cardholder at the address indicated in

the KYC document of the Customer. PPBL shall not be responsible in any manner

whatsoever for any loss and/or theft of or damage to the Card in transit and/or the

quality of the courier services once the Card has been dispatched to the Cardholder at

the address communicated by him.

b. The Cardholder shall ensure that the necessary documents/proofs evidencing the

actual identity of the Cardholder and/or any person collecting on behalf of the

Cardholder are kept ready for due verification by the courier agency at the time of

actual delivery of the Card in physical format at the address communicated by the

Customer to PPBL at the time of applying for the Card. PPBL reserves the discretion

to not deliver the Card to any person acting on behalf of the Cardholder if the above

mentioned documents are not made available to the courier agency at the time of

delivery of the Card and the Cardholder shall not hold PPBL responsible on this

account.

c. In the event of repeated attempts made by PPBL for the delivery of the Card to the

Cardholder and/or if the Cardholder or any person acting on behalf of the Cardholder

refuses to accept the Card at the address communicated by him to PPBL and/or if the

Cardholder is not present at the address informed by him to PPBL, the Card in

physical format shall be destroyed by PPBL. In such cases, where card is not

delivered and returned back to the origin, the Cardholder shall be entitled to refund or

any charges collected by PPBL towardsthe issuance and/or dispatch of the Card at the

sole discretion of PPBL. PPBL shall not be liable for any negligence, mis-use, fraud,

loss in respect of the Card by the third party who has collected the Card on behalf of

the Cardholder.

d. PPBL shall first effect the refund of the fees so collected towards the issuance

and/or the dispatch of the Card to “back to source” account in the event of non-

delivery of the Card for reasons not attributable to the Customer in any manner

whatsoever. If the said refund of fees cannot be affected by PPBL to the source

account, then in such case PPBL shall affect the deposit of the refund monies into the

Customer‟s savings account.

o 3.2 Handover of the Card where the issuance request raised by the Customer through BC

App:

a. The Card being issued through BC App shall be a non-personalized Card.

b. The Card shall be issued to the Customer by visiting the PPBL designated BC

Point, BC will scan the QR code given on the envelope containing Debit Card and

welcome letter and enter the Customer‟s mobile number in the BC App.

c. By scanning the QR code the verification code SMS is sent to the Customer Mobile

Number and Customer shall be required to share the said verification code with BC,

BC will then enter the verification code in BC App. The card details and applicable

charges levied on the Customer for issuance of the Card appears on the BC App.

d. BC shall undertake the Customer‟s biometric to authenticate, the transaction to

debit charges from the Customer‟s account. Post successful transaction, then the Card

will mapped to the Customer account. Post which BC shall handover the envelope

containing Debit Card and welcome letter to the Customer.

4. 4. Transaction Details

o 4.1 Statement

a. The Customer's Paytm bank passbook would reflect all the transactions performed

through the Card.

b. SMS alerts would be sent to the Cardholder for every card transaction done in the

bank account.

c. Transaction Disputes

If there is a dispute regarding transactions listed in the Statement, the Customer must

inform PPBL within 90 days of the transaction reflecting in the passbook. PPBL will

conduct investigation and revert on such transactions. For certain disputes the Bank

reserves the right to give a temporary credit to the bank account during the period of

investigation. However in case the dispute is settled against the Customer, the Bank

may accordingly debit the amount from the bank account.

5. 5. Operation of the Card

o 5.1 The issue and use of the Card shall be subject to the rules and regulations in force from

time to time, as issued by the Reserve Bank of India, NPCI, Card Scheme, FEMA or any

other applicable law in force and that of PPBL.

o 5.2 The Card shall be valid for transactions, as permitted by PPBL from time to time in

India and outside India, at ATMs and Merchants accepting debit cards.

o 5.3 The Bank shall not in any way be responsible for the quality of goods and/or services

purchased or availed of by the Cardholder from the online merchants, including but not

limited to due to deficiency of services, delay in delivery, non-delivery, non-receipt of

goods or receipt of defective goods by the Cardholder. The Cardholder must directly take

up with or directly contact the online merchants for the resolution of any dispute or claim

that he may have regarding the goods and/or services.

o 5.4 The Bank shall not in any way responsible for any unauthorized leakage of customer

credentials or any misuse and abuse of Card at ATMs and POS machine deployed at the

Merchant Establishment.

o 5.5 The Cardholder's bank account will be debited immediately with the amount of

transactions effected by the use of the Card. The Cardholder should maintain sufficient

funds in the bank account to meet any such transactions.

o 5.6 The Cardholder shall use the facility to switch on/off and set/modify transaction limits

for all types of transactions including both domestic and international transactions at POS,

ATM, online transactions/contactless transaction etc. The Cardholder scan Cardholder avail

this facility on 24X7 basis through their Paytm mobile application / internet banking /

calling bank customer care);. Any change in the status of the Card is communicated by

PPBL through SMS on registered mobile number of the customer.

6. 6. Misuse / Compromise of Card Details

o 6.1 The Cardholder should block his Card temporarily and immediately through the Paytm

app if the Cardholder believes or if it comes to his knowledge that his Card details are

stolen and/ or if his Card details have been compromised or if there have been unauthorized

transactions in the bank account on account of usage of the Card. The Cardholder may also

contact PPBL for reporting Card loss by visiting its Noida Branch (Address - Ground Floor,

B-121, Sector 5, Noida - 201301, Uttar Pradesh) and/or any other bank branches as

intimated by PPBL for the said purposes or over the telephone at the numbers of PPBL's

24-Hour toll-free helplines or Customer Care Service Centre listed under the section-

“Contact Us” of PPBL‟s website. The Customer understands that any request for permanent

blocking of the Card shall result in the blocking of the Card in electronic format as well.

o 6.2 In addition, the Card Holder has an option of unblocking of the Card using App for

Cardholder having saving account with PPBL and by using Net Banking Panel where the

Cardholder having current account and has opted for the Net Banking Panel facility

provided by PPBL.

o 6.3 The Card Holder can also request of permanently blocking of the Card and also request

for issuance of new card with the new card details if Cardholder believes or if it comes to

his knowledge that his Card details are stolen and/or if the Card details have been

compromised or if there have been any unauthorised transactions in the bank account on

usage of Card.

o 6.4 The Cardholder must also report the misuse or loss of his Card to the police and lodge a

First Information Report ("FIR").

o 6.5 The Cardholder shall activate the Card in physical format only upon its actual receipt

by the Cardholder itself or upon collecting the same from any person who has collected the

Card acting on behalf of the Cardholder. The Cardholder will be liable for all losses for any

misuse of the Card that has happened with his consent or knowledge or in the event of any

delay or failure on the part of the Customer to report any unauthorized transactions in the

bank account on account of usage of the Card and the Bank shall not be responsible in any

manner whatsoever. The Cardholder shall indemnify PPBL against any liability, costs or

damages arising out of the loss or theft or compromise of the Card details or if there have

been unauthorized transactions in the bank account on account of usage of the Card. This

clause shall survive the cessation of the banking relationship of the Customer with PPBL

and/or closure of the bank account.

o 6.6 The Cardholder shall be entitled to apply for re-issue of the Card post completion of the

necessary formalities as required by PPBL.

o 6.7 The Cardholder agrees and understands that the PIN/OTP issued in respect of the

Account by PPBL to it provides access to the Account and/or enables the Customer to

undertake purchases at various merchant establishments. The Cardholder accepts that it is

the complete and sole responsibility of the Cardholder to keep, maintain and use the Card

in a safe and secure manner and/or to ensure the confidentiality and protection of the Card

and/ or PIN/OTP and/or be liable for all the transactions entered in to and/or routed through

the Account using the Card and such PIN/OTP. The Cardholder shall under no

circumstances record the PIN/OTP in any form, be it intelligible or unintelligible or in

physical writing or in electronic form or otherwise, which is accessible to or could be

accessed by any third party, either honestly or dishonestly or act in any manner that would

facilitate the PIN/OTP coming to knowledge of a third party. The Cardholder grants

express authority to PPBL for carrying out transactions or instructions authenticated on the

basis of the PIN/OTP and shall not revoke or dispute the same. PPBL is under no obligation

to verify the authenticity of the transaction or instruction sent or purported to have been

sent from the Cardholder other than by means of verification of the Cardholder's PIN.

o 6.8 PPBL shall exercise due care when issuing PIN in respect of the Card and shall not

disclose the PIN pertaining to the Card to anybody else except the Cardholder.

o 6.9 The Cardholder has also the option to change his Card PIN using App where the

Cardholder having saving account with PPBL and using Net Banking Panel where the

Cardholder having current account and has opted for the Net Banking Panel facility

provided by PPBL and Cardholder can also make IVR call to change his PIN.

o 6.10 The Cardholder hereby agrees and understands that the Customer cannot undertake

any cash withdrawal transactions at POS by way of the usage of the Card.

7. 7. Indemnity and Exclusion from Liability

o The Cardholder hereby agrees to indemnify and keep PPBL, its employees, service

providers, subcontractors, and/or agents indemnified from and against all actions, claims,

demands, proceedings, losses, damages, costs, charges and expenses whatsoever which

PPBL may at any time incur, sustain, suffer or be put to as a consequence of or by reason of

or arising out of providing the Cardholder the Card or by reason of PPBL exercising due

care and diligence and acting or refusing to act upon the Cardholder's instructions or out of

the negligence, mistake or fraud or default or misconduct of the Cardholder or

machine/systems failure attributable to the Cardholder or breach or noncompliance of the

terms contained herein. Without prejudice to anything contained herein, PPBL shall not be

liable to the Cardholder in respect of any loss or damage arising directly or indirectly out of

the malfunction of any systems not within its control. For avoidance of doubt, it is clarified

that PPBL shall be liable for all direct losses incurred by the Cardholder, caused due to a

systems malfunction, which is directly within its control. However, PPBL shall not be

liable for any loss caused due to a technical breakdown of the payment system if the same

was recognizable by the Cardholder by a message on the display of the device or was

otherwise known. The responsibility of PPBL for non-execution or defective execution of

the transaction shall be limited to the principal value of the transaction and the interest

thereof, if any, subject to the applicable law/s and the policies of PPBL.

8. 8. Termination

o 8.1 PPBL shall be entitled to terminate the Card and/or close the bank account with

immediate effect upon the failure to adhere to or comply with the terms and conditions

herein set forth or upon receipt of any legal and/ or regulatory directions to that effect.

o 8.2 If the Cardholder decides to close his bank account with PPBL or upon the Bank‟s

receipt of information of demise of the Cardholder, the Card(s) issued with this account as

the primary account, would automatically stand cancelled. In case any outstanding Card

transactions that have not yet been debited from the bank account or any outstanding

credits that have not been transferred to the bank account, the same will be netted out from

the balance prior to PPBL returning the funds to the Customer.

A. Additional Terms pertaining to Rupay Card

These Additional Terms shall be read in conjunction to the General Terms and

Conditions governing the Accounts and Services of PPBL (“General Terms”) and

Debit Card Terms and shall be applicable to the RuPay Card unless the General

Terms, Debit Card Terms conflict with the terms stated herein below:

1. Insurance Cover for the RuPay Card

o 1. A cover of INR 2 lakhs is available for the Cardholders under RuPay Insurance Scheme

at no additional cost to the Cardholder. The policy covers Accidental death or permanent

total disability only occurring due to accidents.

o 2. The Cardholder should have performed a successful financial transaction at any POS/ e-

com, both intra and inter-bank i.e on-us or off-us within 45 days prior to the date of

accident of the Cardholder including accident date. Notwithstanding the preceding

sentence, the Cardholder may be entitled to the benefits of the RuPay Card Scheme if the

Card has been issued by PPBL to the Cardholder within 45 days prior to the date of the

accident of the Cardholder including the accident date. However, for avoidance of doubt, it

is clarified that the transactions done by the Cardholder using the PPBL Wallet will not be

considered for assessing eligibility for this purpose.

o 3. For the purposes of this section, the term “transaction” includes Customer induced

transaction at any POS/e-com, both intra and inter-bank i.e. on-us (Customer / Cardholder

transactions at POS/e- com owned by PPBL) and / or off-us (Customer / Cardholder

transactions at POS/e-com owned by other entities).

o 4. The insurance cover is open to all the Cardholders subject to fulfillment of the terms and

conditions of the insurance policy.

o 5. Claim intimation should be made by the Cardholder to PPBL within a period of 90 days

from the date of accident of the Cardholder. However, in case where the Cardholder is

hospitalized due to a critical accident/incident and is unable to file a claim within 90 days

of such accident/incident, then he/she can do the same within a reasonable time beyond

such 90 days. The decision with regard to the reasonableness of the delay shall be that of

the insurer alone. The insurer may thereafter at its sole discretion proceed to honor such

claim, if as on the date of the accident of the Cardholder all the terms and conditions of the

policy have been fulfilled.

o 6. All supporting documents relating to the claim must be submitted within a period of 60

days from the date of intimation.

o 7. The eligible claims will be settled in 10 working days from the date of receiving the

complete documents set from the Cardholder at the sole discretion and assessment of the

insurer.

o 8. The terms and conditions of the RuPay Insurance Scheme are subject to changes by

NPCI and/or the insurer.

NEFT and RTGS

1. National Electronic Funds Transfer ("NEFT") and Real Time Gross

Settlement ("RTGS"):

Reserve Bank of India has introduced two electronic funds transfer system

(collectively referred to herein as "Fund Transfer Systems"), detailed as under:

1. • "National Electronic Funds Transfer" System (hereinafter referred to as "NEFT"). The

objective of the NEFT system is to establish an electronic funds transfer system to facilitate an

efficient, secure, economical, reliable and expeditious system of funds transfer and clearing in

the banking sector throughout India, and to relieve the stress on the existing paper based funds

transfer and clearing system;

2. • "Real Time Gross Settlement" System (hereinafter referred to as "RTGS"), which can be

defined as the continuous (real-time) settlement of funds transfers individually on an order by

order basis (without netting). 'Real Time' means the processing of instructions at the time they

are received rather than at some later time; 'Gross Settlement' means the settlement of funds

transfer instructions occurs individually (on an instruction by instruction basis).

2. Inward and Outward Remittances of funds through the NEFT and RTGS

facility

1. • The savings account holder ("Account Holder") of PPBL hereby agrees to have the inward and

outward NEFT and RTGS transactions activated using the facility

2. •These terms will be in addition to and not in derogation of the terms and conditions relating to

the Saving Account of the Account Holder

3. •Remittance of funds through the Fund Transfer System shall be subject to the rules and

regulations in force from time to time, as issued by the Reserve Bank of India or any other

applicable law in force and that of the Bank.

4. •Upon the happening of a successful transaction, the Account Holder's account will be debited or

credited, as the case may be, as immediately with the amount of the transaction effected by the

Fund Transfer System.

3. Fees and Charges

1. • No fees and charges would currently be levied by PPBL for availing the NEFT and RTGS

facility. However, PPBL reserves the right at any time to charge the account holder for offering

the facility and/or any fees/charges for the transactions carried out by the account holder using

the NEFT and RTGS facility, after due intimation to the Customer.

2. • Any government charges, duty or debits, or tax payable as a result of outward or inward

remittances of funds through the NEFT and RTGS facility shall be the Account Holder's

responsibility and if imposed PPBL shall debit such charges, duty or tax against the Account

Holder.

4. Transaction Details

1. a. Statement

1. • The Customer's Paytm passbook would reflect all the transactions performed through the NEFT

and RTGS facility

2. • SMS alerts would be sent to the cardholder for every transaction done

2. b. Transaction Disputes

If there is a dispute regarding transactions listed in the statement, You must inform PPBL within

30 days of the transaction reflecting in the passbook. PPBL will conduct investigation and revert

on such transactions. In case dispute is settled against the Account Holder, Bank may

accordingly debit the amount. For certain disputes Bank reserves the right to give a temporary

credit during the period of investigation.

3. c. Contact Details

You can contact PPBL as per the details provided in the General terms section

5. Termination

The NEFT and RTGS facility shall only exist during the existence of the Account

Holder's account with PPBL. PPBL shall have the right to terminate the facility with

immediate effect upon the occurrence of any of the following events:

1. • Failure to adhere to or comply with the terms and conditions herein set forth, or

2. • If the Account Holder decides to close his/her account with PPBL;

3. • On receipt of information of demise of the Account Holder

or if for any reason a court of competent jurisdiction finds any provision of these Terms or

portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent

permissible so as to effect the intent of these Terms, and the remainder of these Terms shall

continue in full force and effect.

f. 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. 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.

IMPS

PPBL shall provide IMPS to the Account Holder on a best effort basis in accordance

with the applicable guidelines, circulars, regulations and directions issued by the

Reserve Bank of India and/or National Payments Corporation of India (“applicable

IMPS laws”) with these terms being in addition to and not in derogation of the above

mentioned applicable IMPS laws issued from time to time. The Account Holder is

hereby put to notice that the Account Holder is required to read and understand the

applicable IMPS laws prior to initiating any transaction through IMPS and/or utilizing

IMPS. and agrees that the rights and obligations provided therein and in these terms

shall be mandatorily applicable on the Account Holder in relation to each transaction

initiated through IMPS. Notwithstanding anything contained herein, all the general

terms and conditions governing PPBL‟s products and services (“General Terms”)

shall continue to apply and be read in conjunction with these terms unless the IMPS

terms and the General Terms conflict with the terms stated herein below:

1. 1. Immediate Payment Service (“IMPS”):

o “Immediate Payment Service” (hereinafter referred to as “IMPS” / “Fund Transfer

System”), is an instant, 24*7, interbank, electronic fund transfer service provided by

National Payments Corporation of India (NPCI).

2. 2. Inward and Outward Remittances of funds through the Fund Transfer System

o • The savings or wallet account holder (“Account Holder”) of PPBL hereby agrees to have

the inward and outward fund transfer facility.

o • These terms will be in addition to and not in derogation of the terms and conditions

relating to the Saving Account and wallets of the Account Holder.

o • Remittance of funds through the Fund Transfer System shall be subject to the rules and

regulations in force from time to time, as issued by the Reserve Bank of India or any other

applicable law in force and that of PPBL.

o • Upon the completion of a successful transaction, the Account Holder‟s account will be

debited or credited, as the case may be, as immediately with the amount of the transaction

effected by the Fund Transfer System.

3. 3. Rights and Obligations of the Account Holder

o • The Account Holder shall be responsible to issue payment instructions through IMPS in

the complete and accurate form and shall be liable to compensate PPBL for any loss arising

on account thereof.

o • The Account Holder shall be bound by all his payment instructions through IMPS if

PPBL has executed the same in good faith and in accordance with the Account Holder‟s

instructions.

o • The Account Holder shall ensure sufficient adequacy of funds in his Account at all times

prior to initiation of any payment instruction through IMPS.

o • The Account Holder acknowledges that due to the real time nature of IMPS, the payment

instructions through IMPS shall be irrevocable upon their execution by PPBL.

o • PPBL shall not be liable to process payment instructions through IMPS issued by the

Account Holder in the event of the following: -

a. The funds available in the Account of the Account Holder are insufficient.

b. The payment instructions through IMPS are incomplete or are inaccurate.

c. If PPBL is of the view that the payment instructions through IMPS have been

issued to carry out an unlawful and/or suspicious transaction.

4. 4. Fees and Charges

o • The fees and charges applicable for availing the Fund Transfer System facility shall be as

per the rates displayed on PPBL‟s website and on PPBL App before initiating the fund

transfer. PPBL may at its sole discretion update such fees and charges without providing

any prior intimation to the Account Holder.

o • Any government charges, duty or debits, or tax payable as a result of outward or inward

remittances of funds through the Fund Transfer System shall be the Account Holder‟s

responsibility and if imposed PPBL shall debit such charges, duty or tax against the

Account Holder.

o • Bank will not be responsible in case any fee is levied by the beneficiary bank in case of

outward fund transfer and by remitter bank in case of inwards fund transfer.

5. 5. Transaction Details

o • The Account Holder‟s passbook/statement would reflect all the transactions through the

Fund Transfer System.

o • SMS alerts may be sent to the Account Holder for an IMPS transaction done, as per

PPBL‟s terms.

6. 6. Transaction Disputes

o • If there is a dispute regarding transactions listed in the statement, You must inform PPBL

within 60 days of the transaction reflecting in the passbook/statement. PPBL will conduct

investigation and revert on such transactions.

o • In case dispute is settled against the Account Holder, Bank may accordingly debit the

amount. PPBL also can mark lien on the Customer‟s account if the account-holder does not

have sufficient balance. In case the dispute is settled in favour of the account holder, bank

will credit the amount accordingly.

o • PPBL will not be responsible for recovering the money in case the account holder initiates

fund transfer to an unintended or incorrect account.

7. 7. Contact Details

You can contact PPBL as per the details provided in the General terms section

8. 8. Termination

The Fund Transfer System shall only exist during the existence of the Account Holder‟s account

with PPBL. PPBL shall have the right to terminate the Fund Transfer System facility with

immediate effect upon the occurrence of any of the following events:

o • Failure to adhere to or comply with the terms and conditions herein set forth, or

o • If the Account Holder decides to close his/her account with PPBL;

o • On receipt of information of demise of the Account Holder.

o • As provided under PPBL‟s General Terms and Conditions

UPI

These following terms and conditions ("Terms") shall be applicable to the provision

of the UPI fund transfer and fund collection facility provided / facilitated by Paytm

Payments Bank Limited ("PPBL"). PPBL shall endeavor to provide to the Customer,

UPI Facility in accordance with the UPI guidelines, circulars and/or regulations issued

by the Reserve Bank of India ("RBI") and/or National Payments Corporation of India

("NPCI") from time to time ("Guidelines") subject to the terms and conditions

herein specified. These terms shall be read in conjunction to the additional terms as

agreed between PPBL and the customers for availing UPI Facility through Net

Banking/ API, if applicable. In case of any disparity between the said terms and the

terms mentioned herein, the additional terms shall prevail.

1. 1. Definitions

In this document the following words and phrases have the meanings set opposite

them unless the context indicates otherwise:

o • "Account(s)" refers to the savings and /or current bank account(s) or other such account as

held and maintained with PPBL for which PPBL may provide UPI Facility, or savings

and/or current account held with any bank in India, to be used for operations through the

UPI Facility.

o • "Customer" means the applicant/remitter availing of the UPI Facility through his

Account(s) and shall mean individuals and corporate customers viz. companies

incorporated in India.

o • "PPBL" means Paytm Payments Bank Limited a payments bank licensed under the

provisions of Banking Regulation Act, 1949 (as amended from time to time) and

incorporated as a Company under the provisions of the Companies Act, 2013 (as amended

from time to time) having its registered office at 136, First Floor, Devika Tower, Nehru

Place, New Delhi-110019 (which expression shall, unless it be repugnant to the subject or

context thereof, include its successors and assigns).

o • “NPCI UPI System” means the switch and related equipment and software owned by

NPCI to provide the UPI based fund transfer and funds collection facility through the pre-

approved transaction functionality or otherwise as contemplated under the UPI Procedural

Guidelines;

o • "Payment Order" means an unconditional instruction issued by the Customer using the

UPI Facility, to effect a fund transfer for a certain sum of money expressed in Indian

rupees, to the designated account of a designated beneficiary by debiting Account(s) of the

Customer.

o • “UPI” refers to the Unified Payments Interface Service offered by NPCI in collaboration

with its member banks.

o • "UPI Facility" means the Unified Payments Interface Service based electronic fund

transfer and fund collection facility provided / facilitated by PPBL to its Customers through

the NPCI UPI System as per the Guidelines.

Words or expressions used in this form, but not specifically defined herein shall have

the respective meanings assigned to them by NPCI.

2. 2. Terms of engagement

Each Customer desirous of availing the UPI Facility, shall by way of a one-time

registration, in such form, manner and substance as PPBL may prescribe, apply for

UPI Facility and PPBL shall be entitled, at its sole discretion, to accept or reject such

applications. Corporate customers shall be provided the facility along with the net-

banking panel or through API functionality („API‟). The Customer may apply for UPI

Facility by downloading the Paytm application (“the App”) and in case of corporate

customers, by applying to PPBL for net-banking facility or API. The Customer will

have an option to set a virtual payment address and start transactions using the UPI

Facility. Customer can link other bank accounts through a one-time registration

process defined and standardized by NPCI and then start transacting on that.

Notwithstanding the foregoing, corporate customers shall be able to link only their

PPBL bank account to the UPI Facility. By applying for and accessing the UPI

Facility, the Customer accepts these Terms, which shall govern the provision of the

UPI Facility by PPBL. The Terms shall be in addition to and not in derogation of the

Guidelines issued from time to time.

The Customer hereby acknowledges that the Customer has read and understood the

Guidelines and agrees that the rights and obligations provided therein and in these

Terms in so far as it relates to the Customer shall be binding on the Customer with

regard to every Payment Order issued by him/it for execution in the NPCI UPI

System. The Customer understands and agrees that nothing in terms of availing the

UPI Facility shall be construed as creating any contractual or other rights against

NPCI or any participant in the NPCI UPI System other than PPBL. Notwithstanding

anything contained herein, all terms and conditions stipulated by PPBL in connection

with the Accounts shall continue to apply.

The transaction limits using the UPI Facility shall be as per the Guidelines, an

updated.

3. 3. Scope of the UPI Facility

UPI Facility offers an instant, interbank electronic fund transfer or fund collection

service to the customers of UPI member banks. The Customers can put in request for

fund transfers or funds collection or respond to funds collection from the App/net

banking panel/API provided to corporate customers in a secure manner for any of

their linked bank Accounts using their unique VPA handle.

3.A. Pre-approved transactions:

PPBL corporate Customers can avail of the pre-approved transaction functionality of

the NPCI UPI System (“pre-approved flow”). The transactions in the pre-approved

flow shall be authenticated via Bank passcode/ netbanking password.

The corporate customers may be required to execute additional documents or

complete necessary formalities as required by PPBL for operationalizing the approved

flow.

4. 4. Fees and Charges

o • The fees and charges applicable for availing the UPI Facility shall be as per the rates fixed

by PPBL. PPBL may at its sole discretion update such fees and charges by providing any

prior intimation to the individual customers. In case of corporate customers, the same shall

be as agreed between PPBL and the corporate customers separately, in writing.

o • Any government charges, duty or debits, or tax payable as a result of payments made

using the UPI Facility shall be the Customer‟s responsibility and if imposed PPBL shall

debit such charges, duty or tax against the Customer.

5. 5. Rights and Obligations of the Customer

a. The Customer shall be entitled, subject to other terms and conditions of the service, to issue

Payment Orders for execution by PPBL.

b. • The Payment Order shall be issued by the Customer, in the form as prescribed by PPBL, which

is complete in all particulars. The Customer shall be responsible for the accuracy of the

particulars given in the Payment Order for UPI Facility and shall be liable to compensate PPBL

for any loss arising on account of any error in the Payment Order.

c. • The Customer shall be bound by any Payment Order executed by PPBL if PPBL has executed

the Payment Order in good faith and in compliance with the instructions given by the Customer.

d. • The Customer authorizes PPBL to debit Account(s) as per instructions received by way of

Payment Orders. The individual Customer understands that although multiple bank accounts can

be linked with the UPI Facility, debit/credit transactions can be done from the default account.

Customer may change the default account before initiating such debit/credit transactions. Each

Account that may be linked with the UPI facility can be opened with a separate username.

However, in case of corporate customers, only one UPI VPA shall be available per corporate‟s

Account, as existing with PPBL.

e. • The Customer shall ensure availability of funds in his Account(s) towards the fulfillment of the

Payment Order before/at the time of the execution of the Payment Order by PPBL. The

Customer hereby authorizes PPBL to debit the Account(s) of the Customer for any liability

incurred by PPBL on behalf of the Customer for execution of the instruction issued by the

Customer. The Customer understands and agrees that once a fund collection request is accepted,

the default account will automatically be credited with such amounts as may be mentioned in the

fund collection request. The Customer understands and agrees that such amounts once credited to

default account cannot be reversed by the Customer.

f. • The Customer agrees that the Payment Order shall become irrevocable when it is executed by

PPBL.

g. • The Customer agrees that he shall not be entitled to make any claim against RBI and/or NPCI

in respect to the UPI Facility.

h. • The Customer agrees that PPBL shall not be liable for any delay in the completion of the funds

transfer or any loss on account of error in the execution of the funds transfer.

i. • The Customer shall provide correct beneficiary details to PPBL at the time of availing the UPI

Facility. The Customer shall be solely responsible for entering wrong beneficiary details like

incorrect Virtual Payment Address or incorrect mobile number or Account no or IFSC Code, due

to which the fund are transferred to an incorrect beneficiary.

j. • The Customer agrees that the UPI Facility are offered in line with the RBI‟s guidelines which

are subject to change from time to time.

k. • Customer shall inform PPBL immediately of any inquiry, question or issue raised by any

authority including but not limited to any statutory authority or official regarding and relating to

PPBL, as well as expeditiously notify PPBL of any show causes, seizure or similar action and

provide copies of any notices, memos, correspondences received from such authority. Customer

shall not unilaterally file any response / reply to such an authority without the prior approval and

vetting by PPBL.

l. • The Customer shall be solely liable for ensuring availability of sufficient funds in the

Account(s) at all times for the purpose of availing the Facility. The Customer agrees that in the

event there are insufficient funds in the Account, PPBL shall decline the transaction instruction.

6. 6. Rights and obligations of PPBL

. PPBL shall execute a Payment Order issued and duly authorised by the Customer, unless: (a) the

funds available in the Account(s) of the Customer are not adequate or funds are not properly

applicable/available to comply with the Payment Order (b) the Payment Order is incomplete or it

is not issued in the agreed form, (d) PPBL has reason to believe that the Payment Order is issued

to carry out an unlawful transaction or (e) the Payment Order cannot be executed under the NPCI

UPI System.

a. • No Payment Order issued by the Customer shall be binding on PPBL until PPBL has accepted

it.

b. • PPBL shall, for execution of every Payment Order, be entitled to debit the designated

Account(s) of the Customer, with the amount of the funds to be transferred together with charges

payable thereon.

c. • A duly authenticated record of the transaction after completion of the funds transfer or funds

collection or response to a funds collection request will be recorded in the statement of account

in the mobile application/net banking panel/ API of PPBL. The transaction will also be recorded

in the statement of account given to the Customer by the Customer‟s bank. The Customer shall,

within a period of ten (10) days from the date of receipt of the monthly statement, report to

PPBL any discrepancy in the execution of the Payment Order. The Customer agrees that he shall

not be entitled to dispute the correctness of the execution of the Payment Order or the amount

debited to his Account(s) if he fails to report the discrepancy within the said period.

d. • PPBL for providing the UPI Facility to the Customer shall follow the process prescribed by

NPCI in this regard including but not limited to process for settling of timed out transactions

within the time limit prescribed by NPCI.

e. • While PPBL endeavors to provide the Customer the VPA handle of his/her choice (from select

options provided to the Customer, if applicable), the decision of PPBL to allocate or not to

allocate a requested VPA shall be final and binding. PPBL also reserves the right to withdraw a

VPA at any time if it is found to be not as per the requirements of any statutory, regulatory

authority or NPCI. In addition, PPBL reserves the right to hold, stop, delete, reset any VPA used

for any wrong doings, mis-use or under any unforeseen circumstance that may so warrant. Any

request for change of VPA shall be addressed basis PPBL‟s process‟.

7. 7. Instructions

The Customer is responsible for the accuracy and authenticity of the instructions

provided to PPBL and the same, if is in the form and manner prescribed by PPBL,

shall be considered to be sufficient to operate the UPI Facility. PPBL shall not be

required to independently verify the instructions. PPBL has no liability if it does not

or is unable to stop or prevent the implementation of any Payment Order issued by the

Customer. Once a Payment Order is issued by the Customer the same cannot be

subsequently revoked by the Customer.

PPBL states that it has no liability or obligation to keep a record of the instructions to

provide information to the Customer or for verifying the instructions. PPBL shall

refuse to comply with the instructions without assigning any reason and shall not be

under any duty to assess the prudence or otherwise of any instruction. PPBL has the

right to suspend the transactions with respect to the UPI Facility if it has reason to

believe that the Customer‟s instructions will lead to or expose to direct or indirect loss

to PPBL or may require execution of such documentation as deemed necessary by

PPBL, from the Customer before continuing to operate the UPI Facility.

All instructions, requests, directives, orders, directions, entered by the Customer, are

based upon the Customer‟s decisions and are the sole responsibility of the Customer.

8. 8. One- Time Mandates and Recurring Mandates:

o A. One-time Mandates:

a. Through this functionality, individual customers can pre-authorize future debit of

his/her bank account. The mandate created shall be for one-time execution only and

customer Account shall be blocked for the equivalent amount immediately with the

mandate creation.

b. In P2M transactions, a merchant can create a mandate for the customer, who is the

payer in this case. It is through Collect flow that payee/ merchant initiated mandates

can be created. In case the payer does not have necessary fund/balance in the account,

the UPI Mandate will not be created

c. The mandate shall be created only on receipt of consent of the customer.

d. Payee can modify the mandate any time before the expiration date and redemption

date. Such modification shall be subject to approval of the customer. Only amount

and expiry dates can be modified.

e. The payee can revoke the mandate any time before the expiration date. The blocked

funds shall be unblocked immediately and the said mandate shall stand cancelled.

f. Mandate execution will only happen between start date and end date.

g. UPI ID de-registration cannot be allowed by the customer if any mandate is active

and outstanding against the UPI ID

h. Limit per mandate is Rs.1 Lacs

i. Mandates may be valid for a maximum period of 90 days, or any other period so

prescribed from time to time.

o B. Recurring Mandates:

a. In Recurring Mandate, the Customer will have the capability to schedule mandate

through one-time authorization for a selected validity period and a defined frequency.

This will allow recurring debits from the UPI linked Account. The Mandate can be

payer initiated and payee initiated. No mandate shall be set without consent of the

Customer.

b. A request for modification of mandate may be sent by the party that has initiated

the mandate, i.e., Payee and Payer both can initiate modification (depending on which

party initiated the mandate) but the final authority to approve the modification lies

with the Customer. no such modifications shall be effected without the consent of the

customer.

c. The payer can pause the mandate for a duration within which the mandate will be

inactive. Any transaction initiated by the payee on a paused mandate will be declined.

Similarly, the payer has the option to resume a paused payment from an effective date

within the mandate validity period.

d. The mandate can be revoked i.e. cancelled by either of the parties. Mandate once

revoked can‟t be undone i.e. on a revoked mandate no further executions of the same

mandate to be done. If Revoke is initiated by Payee PSP, there is no PIN required

whereas if revoke is initiated by Payer PSP, then PIN is required

e. If the first execution date is same as mandate creation date, the customer will need

to authorize the mandate creation and no separate authorization for immediate

execution would be required. If the first execution date is a future date, then the

customer will be required to authorize the execution with requisite information

including UPI PIN.

f. As directed by NPCI, Two re-attempts shall be allowed in case any execution fails

due to any technical, business reasons or risk scores from FRM. On failure of third

attempt, the respective mandate execution for processing of the transaction on that

particular date shall fail, however, the mandate shall be valid and active for future

executions. However, if the first execution of the mandate fails (inclusive of the two

re-attempts), the entire mandate will stand cancelled.

g. If any mandate execution amount is for more than Rs.2000(upper limit : Rs.

25,000), then the customer will be required to provide express authorization, every

time before execution

9. 9. Disclaimer

PPBL does not hold out any warranty and makes no representation about the quality

of the UPI Facility. While PPBL shall endeavor to promptly execute and process the

transactions as proposed to be made by the Customer, PPBL shall not be responsible

for any non-response or delay in responding due to any reason whatsoever, including

due to failure of operational systems or any requirement of law. The App is provided

on an "as is" basis with no representation, guarantee or warranty of any kind, either

express or implied, as to its functionality. Downloading or using the App does not

automatically entitle the Customer to receive hard-copy documentation, technical

support, telephone assistance, or updates to the App from PPBL. No warranty is

provided that the App will be free from defects or virus or that operation of the App

will be uninterrupted. Use of the App by the Customer is at the Customer‟s own

discretion and risk and the Customer is solely responsible for any damage resulting

from the use of the App. PPBL shall not be liable for any loss, claim or damage

suffered by the Customer and/or any other third party arising out of or resulting from

failure of a UPI transaction where no response is received from NPCI or the

beneficiary bank to the transaction request and/or where mobile number or account

number of the beneficiary does not exist or on account of any issues that are not

attributable to PPBL in any manner whatsover. Further, PPBL shall also not be liable

for any loss, damage and/or claim arising out of or resulting from wrong beneficiary

details, mobile number and/or account details being provided by the Customer. PPBL

shall under, no circumstance, be held liable to the Customer if UPI Facility access is

not available in the desired manner for reasons including but not limited to natural

calamities, legal restraints, faults in the telecommunication network or network

failure, or any other reason beyond the control of PPBL. Illegal or improper use of the

UPI Facility shall render the Customer liable for payment of financial charges (to be

decided by PPBL) or may result in suspension of the UPI Facility to the Customer. All

the records of PPBL generated by the transactions arising out of the use of the UPI

Facility, including the time the transaction is recorded shall be conclusive proof of the

genuineness and accuracy of the transaction. For the protection of both the parties,

and as a tool to correct misunderstandings, the Customer understands, agrees and

authorises PPBL, at its discretion, and without further prior notice to the Customer, to

monitor and record any or all telephone conversations between the Customer and

PPBL and any of its employees or agents. PPBL expressly disclaims all warranties of

any kind, whether express or implied or statutory, including, but not limited to the

implied warranties of merchantability, fitness for a particular purpose, data accuracy

and completeness, and any warranties relating to non-infringement in the UPI Facility.

10. 10. Indemnity and Liability

The Customer hereby undertakes and agrees to indemnify at all times and hold

harmless PPBL, NPCI and such other third party as PPBL or NPCI deems appropriate

against all actions, proceedings, claims, liabilities (including statutory liability),

penalties, demands and costs, awards, damages, losses and/or expenses however

arising as a result of:

. i. Any breach of any applicable law, rules and regulations, Guidelines or fraud;

i. ii. violations of the Terms by the Customer or unauthorized use of the UPI facility;

ii. iii. any misrepresentation or breach of representation or warranty made by the Customer

contained herein;

iii. iv. any act, neglect or default on the part of the Customer.

Customer shall also fully indemnify and hold harmless PPBL and NPCI against any

loss, costs, expenses, demands or liability, whether direct or indirect, arising out of a

claim by a third party pertaining to the use of UPI Facility by the Customer.

The Customer hereby agrees that under no circumstances, PPBL‟s aggregate liability

for claims relating to the UPI Facility, whether for breach or in tort including but not

limited to negligence shall be limited to the transaction charges/fees or consideration

received by PPBL in the preceding one (1) month from the date of first occurrence of

such liability. Notwithstanding the foregoing and except for any liability which cannot

by law be excluded or limited, PPBL‟s liability for indirect, incidental, special,

punitive or consequential damages, including without limitation, damages for loss of

profits, business interruption, Interruption or stoppage to the Customer‟s access to

and/or use of the App, loss of goodwill or unauthorized access to information incurred

by the Customer howsoever arising, whether framed as a breach of warranty, in tort,

contract, or otherwise even if PPBL has been advised of the possibility of such

damages.

11. 11. Termination

The Customer may request for termination of the UPI Facility at any time. The

Customer will remain responsible for all the transactions made through the UPI

Facility until the time of such termination. PPBL may withdraw or terminate the UPI

Facility anytime either entirely or with reference to a specific UPI Facility without

assigning any reasons whatsoever. PPBL may suspend or terminate the UPI Facility

without prior notice if the Customer has breached any of these Terms. Terms

regarding termination by corporate customers shall be governed by respective

documentation as agreed between PPBL and such corporate customers.

12. 12. Notice

You can contact Paytm Payments Bank Limited in any of the following ways:

Visit our Branch (Address – Ground Floor, B-121, Sector 5, Noida – 201301, Uttar

Pradesh)

Write to us at the below address:

The Nodal Officer,

Paytm Payments Bank Limited

A-6, V.J Towers,

Sector 125,

Noida – 201303

Uttar Pradesh

Notices under these Terms may be given in writing by delivering them by hand or by

sending them by post to the last address given by the Customer and in the case of

PPBL to its address given above. In addition, PPBL may also publish notices of

general nature, which are applicable to all Customers in a newspaper or on its website

at www.paytm.com. Such notices will have the same effect as a notice served

individually to each Customer. Notice and instructions will be deemed served 7 days

after posting or upon receipt in the case of hand delivery, cable, telex or facsimile.

13. 13. Miscellaneous

PPBL has the absolute discretion to amend or supplement any of the Terms as stated

herein at any time and will endeavor to give prior notice of fifteen days for such

changes wherever feasible. By his/her continuous use of the UPI Facility, the

Customer shall be deemed to have accepted the updated terms and conditions. Any

provision of these Terms, which is prohibited or unenforceable in any jurisdiction,

shall, as to such jurisdiction, be ineffective to the extent of prohibition or

unenforceability but shall not invalidate the remaining provisions of these Terms or

affect such provision in any other jurisdiction. PPBL 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 Account(s) to the extent of all outstanding dues, whatsoever, arising as a

result of the UPI Facility extended to and/or used by the Customer.

Net-Banking

The Customer hereby agrees and understands that the following terms pertaining to

Net-banking services and Net-banking panel (collectively referred to as “Net-banking

Services”) shall be read in conjunction with the Paytm Payment Bank Limited‟s

(“PPBL”) Current/Nodal Account (“Account”), terms and conditions/relevant

substantive documentation (“Account Terms and Conditions”) and API Banking

terms and conditions and VAN terms and conditions. In the event of any conflict and

contradiction in the terms and conditions contained below and the Account Terms and

Conditions the later shall prevail. By accessing and/or using the Net-Banking

Services, the Customer hereby acknowledges and accepts these terms & conditions as

mentioned hereinbelow;

1. Customer acknowledges that the Net-banking Services offered by PPBL provides

access to Account information, products and other services such as balance enquiry,

transaction details of the Account, statement of Account, transfer of funds, bill

payment and such other services as PPBL may decide to provide from time to time

through the Net-banking panel. PPBL at its sole discretion may also make additions/

deletions/modifications to the Net-Banking Services being offered through the Net-

Banking panel.

2. Customer understands that it shall be provided default access to the Net-banking

panel on opening of the Account with PPBL and PPBL may from time to time provide

such services, offerings or such other enhancements as may be developed by PPBL

from time to time. The Customer can access the Net-banking panel via the link shared

through the medium of email/sms by PPBL after the successful onboarding of the

Customer and the Customer shall be required to log in with his Paytm password and

login credentials and set a passcode of 4 digits which shall be used for performing

such actions like viewing statement etc. and/or undertaking transactions through the

Net-banking panel.

3. The Customer shall at all times keep the log in credentials, password and passcode

safe and secure at all times and shall not disclose the same to any other person. The

passcode set by the Customer can be changed from the Net-banking panel itself.

4. The Customer shall not use or permit to use Net-banking Service for any illegal,

fraudulent, dishonest or improper purposes and shall inform PPBL promptly in case of

any fraudulent or illegal or unauthorized access to the Net-banking panel.

5. The Customer agrees and acknowledges that PPBL shall in no way be held

responsible or liable if the Customer incurs any loss as a result of compromise of

User-id and password by the Customer itself or due to data theft or due to any

malware, virus or social engineering attack or cyber-attack resulting in hacking and/or

compromise of the systems of the Customer or the Customer has failed to follow the

Net-banking Service instructions as notified by PPBL from time to time. Customer

agrees to keep PPBL indemnified at all times and hold harmless in the event of

occurrence of the above mentioned scenarios.

6. The Customer acknowledges that if any third party gains any unauthorized access

to the Net-banking Services, the Customer will be responsible and shall at all times

keep PPBL indemnified against any liability, costs or damages arising out of claims or

suits by such third parties based upon or relating to such access and use.

7. The Customer must:

a. Keep the User-id and Login Password and Passcode absolutely confidential and not

reveal the same to any third party;

b. Change the password and passcode from time to time ; and

c. Commit the log-in credentials and passcode to memory and not record them in a written or

electronic form.

8. Customer accepts and acknowledges that he will be responsible for providing the

correct account number / other particulars of the beneficiary for the fund transfer

request and/or relevant information for processing of financial/non-financial

transactions. In no case, PPBL will be held liable for any erroneous transactions

incurred arising out of or relating to the Customer entering

wrong/incorrect/incomplete account number, information of the beneficiary and/or

any other particulars that are factually incorrect/inaccurate/incomplete. Also, in no

case, PPBL will be held liable for any erroneous transactions incurred arising out of or

relating to the Customer entering any incomplete or undecipherable or unreadable or

erroneous inputs keyed in by the Customer. In case of any wrongful or erroneous

transfer the Customer shall follow the procedure prescribed by PPBL from time to

time and shall at all times keep PPBL indemnified against any loss, suit or threat of

suit.

9. PPBL shall not be liable for any omission to make all or any of the payments or for

late payments due to circumstances beyond the reasonable control of PPBL.

10. Customer acknowledges that there might be delays or non-availability of certain

Net-banking Services on the Net-banking panel due to any scheduled or unscheduled

downtime in the systems of PPBL. Customer shall be duly informed about any

scheduled downtime or updates that might lead to the Net-banking Services being

hampered via email/sms.

11. Customer acknowledges that PPBL may impose the limits for carrying out various

kinds of funds transfer or any other services through the Net-banking Services from

time to time and may be updated on https://www.paytmbank.com/ratesCharges. For

instance, PPBL may impose transaction restrictions upon the Customer and the

Customer hereby undertakes to be bound by such limits imposed and shall strictly

comply with them.

12. The Customer shall maintain secrecy of all confidential information and shall

ensure that the same is not disclosed to any person voluntarily, accidentally or by

mistake. Customer agrees and acknowledges that any loss, damage or liability caused

or suffered due to disclosure confidential nature shall be borne by the Customer

solely. PPBL shall not be liable for any unauthorized transaction(s) occurring through

the use of Net-Banking Services which can be attributed to the fraudulent, dishonest

or negligent conduct of the Customer or any other third party or otherwise.

13. The Customer undertakes to inform PPBL promptly in case of any fraudulent or

wrongful activity that might have happened through the Net-banking panel due to any

unauthorized access to the panel. The Customer shall refrain from accessing the Net-

banking panel from public locations/systems/infrastructure like browsing centers etc.

which are susceptible for hacking of passwords and other misuse. In any such case,

the Customer will be solely responsible for any liability, costs and damages arising

out of such hacking or misuse.

14. Customer acknowledges that the instructions given via the Net-banking panel shall

be effective only when such instruction are in accordance with the prescribed format

as provided on the Net-banking panel. PPBL shall have no obligation to verify the

authenticity of any transaction/instruction received from the Customer through the

Net-banking panel. While PPBL shall endeavor to carry out the instructions promptly,

it shall not be responsible for any delay in carrying on the instructions due to any

reason whatsoever, including due to failure of operational systems or any requirement

of law.

15. The Customer acknowledges that the Net-banking Services and all such products

and services offered via the Net-banking panel are the proprietary property of PPBL

and/or lawfully licensed/distributed under the relevant third party arrangements and

shall in no manner violate the related IPR of PPBL and/or third party financial product

providers during the usage of the Net-banking services. Customer acknowledges that

the permission given by PPBL to access the Net-banking Services will not convey any

proprietary or ownership rights in the app and/or panel and the Customer shall not

attempt to modify, translate, disassemble, decompile or reverse engineer the software

underlying Net-banking Services or the Net-banking panel to create any derivative

product/software/copies of the software based on the same.

16. The Customer agrees and acknowledges that the Net-banking Services being

provided by PPBL may not be uninterrupted or error free or free from any virus or

other malicious destructive or corrupting code, program or macro. 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 PBBL and PPBL shall not be responsible for the same. PPBL hereby specifically

disclaims any representations, endorsements, guaranties, or warranties, express or

implied, including, but not limited to, the implied warranty of sale-ability or fitness

for a particular purpose and non-infringement of intellectual property rights.

17. The Customer acknowledges that PPBL reserves the right to recall or block the

Net-banking services of the Customer if the Customer is found in violation of the

terms and conditions. PPBL reserves the right to block or not process

transactions/Account/panel/Services if it suspects fraud in the Account as a

precautionary measure and shall inform the Customer about the same.

18. The Customer undertakes to inform PPBL from time to time in case of change in

details, termination, resignation etc. of the authorized representatives and provide

such necessary and appropriate details and/or documents in relation to the authorized

representatives to PPBL promptly so as to enable PPBL to block/revoke/modify the

access to Net-banking Services of such authorized representative. Customer shall keep

PPBL indemnified at all times against any actions undertaken by the authorized

representative till the time the details are not updated in the systems of PPBL.

Employee Management Panel

The Customer hereby agrees and understands that the following terms pertaining to

Employee Management Panel (“Panel”) housed in the Net-banking panel provided by

Paytm Payment Bank Limited‟s (“PPBL”) shall be read in conjunction with the Net-

Banking terms and conditions (“Bank Terms”).

By accessing and/or using the Panel, the Customer hereby acknowledges that the

Customer has read, understood and agrees to these terms & conditions as mentioned

herein below. The Customer hereby acknowledges that PPBL is providing a banking

solution to the Customer at the Customer‟s request for purposes in relation to the

salary account (“account”) acceptance arrangement including but not limited to

viewing and allowing linking or de-linking of the accounts opened for the Customer‟s

employees and to download such data files from the Panel. Customer for the terms

and conditions contained herein shall mean and include such

entity/corporate/organization who has entered into a salary account arrangement with

PPBL.

1. Customer acknowledges that the access to the Panel shall be provided by PPBL to

the Customer‟s authorized personnel communicated from time to time and subject to

completion of the formalities as stipulated by PPBL from time to time including but

not limited to execution of such agreement and/or letter of intent between PPBL and

the Customer pertaining to salary account acceptance arrangement and/or submission

of all relevant documents/corporate authorizations.

2. Customer acknowledges that only the persons added as authorized persons can

access the Panel with their log-in credentials and password and the access to the Panel

shall be provided subject to fulfillment of the formalities as required by PPBL from

time to time and provision of information like name, phone number and account

number of the PPBL account holder.

3. Customer acknowledges that PPBL may levy fees/charges on the Customer towards

the Panel so being provided by PPBL.

4. Customer hereby understands and agrees that the Panel so being provided by PPBL

may not be uninterrupted or error free or free from any virus or other malicious

destructive or corrupting code, program or macro. 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 PBBL and PPBL

shall not be responsible for the same. PPBL hereby specifically disclaims any

representations, endorsements, guaranties, or warranties, express or implied,

including, but not limited to, the implied warranty of sale-ability or fitness for a

particular purpose and non-infringement of intellectual property rights.

5. Customer hereby agrees that any usage of the Panel shall be at the sole risk of the

Customer and the Customer shall not share the log-in password and id credentials

with any third party and shall at all times keep the same safe and shall report to PPBL

in case of any loss or theft.

6. Customer undertakes to inform PPBL promptly in case the authorized person leaves

the organization for initiation of appropriate action by PPBL. Customer shall not hold

PPBL liable for any misuse by its persons of the Panel and shall keep PPBL

indemnified at all times against any claims, suits, threat of suit, notices losses or

actions due to usage of the Panel by Customers personnel.

7. Customer shall ensure that all the authorized persons having access to the Panel

abide by the terms and conditions entailed herein.

8. Customer acknowledges that PPBL reserves the right to revoke or block access to

the Panel or undertake such appropriate action if the Customer is found in violation of

the terms and conditions governing the same or in case of any violation of the

applicable laws and/or any negligence, misconduct and/or fraud by the authorized

person(s).Customer acknowledges that any mismatch in the account numbers,

amounts and names of the beneficiaries is it‟s sole liability and PPBL will not be

responsible for any mismatch between the details given in Panel and details filled by

the authorized person(s).

9. Customer shall promptly share all such information as may be required by PPBL

from time to time in the manner as requested by PPBL.

Privacy Policy

For the Privacy Policy, please click here

Disclaimer: "In the event of any conflict between the terms and conditions of the PPBL in

English language listed at https://www.paytmbank.com/Terms&Conditions and the translated

version of the terms and conditions in concerned local language updated on PPBL website,

the English version shall prevail.”