Terms and Conditions
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About Us
OneBanc Technologies Private Limited ("we", "us", "Company") is a company incorporated under the provisions of the Companies Act, 2013, having corporate office at 1205-1206, 12th Floor, Welldone Tech Park, Sohna Road, Sector 48, Gurugram, Haryana, 122018.
The Company has set-up and operates a mobile application called "OneBanc" described below ("OneBanc Application").
The OneBanc Application is an iOS, android, windows, and mac mobile application with limited web enabled interface. When the OneBanc Application is downloaded on a smartphone, it provides the user with a neo banking platform (“Platform”). This Platform enables registered users to avail banking products and services from different banking and other financial service providers partnered with us. The services facilitate the opening of savings bank accounts, salary, savings, and reimbursement management, conducting of banking transactions and UPI transactions through the Platform, and the availing of loan and overdraft facilities through third party service providers.
Agreement and Modification
  • These Terms and Conditions constitute a legal agreement ("Terms") between (i) "you" (the "Registered User") and us in relation to the use of the OneBanc Application.
  • Please read these Terms carefully before registering with, accessing, or using the OneBanc Application. By accessing, downloading, or registering with the OneBanc Application or by availing any of the services provided by us via the OneBanc Application, you agree to be bound by these Terms. If you do not agree with all or any of these Terms, then you must not access, download, or register with the OneBanc Application or avail any services through the OneBanc Application and any continued use or access will constitute acceptance of these Terms.
  • We reserve the right to modify or terminate any portion of the Terms for any reason and at any time, and such modification need not be informed to you in writing. It is recommended that you read and acquaint yourself with the Terms each time you access or use the OneBanc Application. Your use of the OneBanc Application following any such modification constitutes your agreement to follow and be bound by the Terms so modified.
  • These Terms govern all upgrades of the OneBanc Application that replace and / or supplement the original version of the OneBanc Application unless such upgrade is accompanied by separate terms in which case such separate terms will govern its use.
  • These terms are in addition to any of the terms and conditions of the Banking Partners (as defined below) or other Service Providers (as defined below) registered with the Platform. You are advised to separately go through such terms and conditions before accessing or using the OneBanc Application.
Definitions
  • "Banking Partner" means registered banking institutions on-boarded onto the platform from time to time.
  • "KYC Guidelines” means know-your-customer guidelines as issued, amended, updated, and modified by the Reserve Bank of India from time to time.
  • “KYC Documents” means the documents mandated by the Reserve Bank of India that need to be submitted by Registered Users to use the Services provided by the Platform.
  • “Merchant(s)” means establishments, wherever located, which accept / honour the Card (as defined below) and includes stores, shops, restaurants, travel service providers, utility service providers, etc.
  • “Neo Banking” means a non-traditional way of banking which integrates core banking with other fintech services.
  • “OneBanc Application” means the proprietary application developed, operated, and managed by the Company.
  • “Platform” means a technology enabled software platform developed, operated, and managed by the Company for providing the Services.
  • “Platform Account” shall mean the account created on the OneBanc Application / Platform by a user on becoming a Registered User on the Platform.
  • “Registered User” mean an Indian national who has attained at least 18 (eighteen) years of age, is of sound mind and who has voluntarily registered with the Platform by providing certain information sought by the Platform including his / her personal information.
  • “Services” means the services provided to the Registered Users of the Platform including facilitation of opening of a savings bank account through a Banking Partner, access to savings the pockets by opening of recurring deposits with a Banking Partner, access to short term personal loans and other services provided by the Service Providers on-boarded onto the Platform.
  • “Service Providers” means fintech service providers on-boarded onto the Platform to provide Services to Registered Users.
Purpose of the Platform
The OneBanc Application is a Platform which delivers intelligent banking experiences in partnership with an ecosystem of traditional Banking Partners, non-traditional financial Service Providers and Merchants on one Platform, that is simple, engaging, and contextual to the customer’s financial life. The Company brings the ‘Neo Banking experience’ to India’s 150M+ young and emerging consumers.
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Competency to Contract
  • You represent and warrant that you are eligible to enter into a legally binding agreement and to be bound by these Terms. You will not access or use the OneBanc Application if you are not competent to contract under the laws of India.
  • If you represent a company, partnership firm or sole proprietorship, you will be eligible to access the Platform or Services we provide and their features on its behalf only if you have been duly authorised by way of necessary corporate action as may be statutorily prescribed and as required under the charter documents of such entity.
Limited Right to Use OneBanc Application
  • On downloading the OneBanc Application, you get a non-exclusive, non-transferable, limited right to use the OneBanc Application on any android or iOS device that you own or control. This right does not allow you to use the OneBanc Application on any device that you do not own or control, and you may not distribute or make the OneBanc Application available over a network where it could be used by multiple devices at the same time.
  • Nothing contained in the OneBanc Application, or these Terms should be considered as granting you, by implication or otherwise, any right to use the trademarks, logos, or other intellectual property contained in the OneBanc Application.
  • You shall not rent, lease, lend, sell, redistribute or sublicence the OneBanc Application.
  • If you choose to access the OneBanc Application from outside India you shall do so at your own risk, and you will be solely liable for compliance with all applicable law including local laws. No information or data contained in the OneBanc Application will be construed as an offer to buy or sell or solicit such an offer in any jurisdiction other than India.
  • You shall not copy, decompile, reverse engineer, disassemble, attempt to derive the source code of, modify, or create derivative works of the OneBanc Application, any updates, or any part thereof (except as and only to the extent any foregoing restrictions is prohibited by applicable law or to the extent as may be permitted by the licensing terms governing use of any open sourced components included within the OneBanc Application) and you shall not exploit the OneBanc Application in any unauthorised way whatsoever, including but not limited to, by trespass or burdening the network capacity.
  • You also agree that the OneBanc Application contains proprietary content, information and material that is protected by applicable intellectual property and other laws, including but not limited to copyright, and that you will not use such proprietary content, information, or materials in any way whatsoever except as provided in the Terms below. If you breach these restrictions, you shall be subject to prosecution by the Company, who may seek appropriate legal remedy available under applicable law, including damages.
User Access, Accounts, and Consent to Use of Data
  • By downloading, and registering with the OneBanc Application, you represent that you are not barred by any law, in any jurisdiction or bound by any agreement that restricts your right to access, download and register with the OneBanc Application and to make payments through the OneBanc Application.
  • In order to register with the OneBanc Application, you will have to provide your name, email ID, password and such other details as we may require from time to time.
  • You will ensure that any information provided for registration with the OneBanc Application are your own and do not belong to any third party and that they are valid and existing details. You are responsible to keep updated such information and will be responsible for any loss that may result from a failure to do so.
  • You are solely responsible for all usage and activity in your Platform Account after registration with the OneBanc Application, including use of the Platform Account by any third party authorised by you. It will be presumed that all activity and usage emanating from your Platform Account have been carried out by you, and you will be responsible for the same.
  • You have the option to set a security password when registering yourself on the OneBanc Application. You are responsible for maintaining the confidentiality of the password and the account.
  • You will immediately notify us about any known or suspected unauthorised use of your Platform Account, or any known or suspected breach of security. The Company will not be liable for any losses caused to you, whether directly or indirectly, by unauthorised use of your Platform Account or the OneBanc Application, or your failure or delay in intimating us of such known or suspected unauthorised use of your Platform Account or the OneBanc Application, or any known or suspected breach of security.
  • You acknowledge, consent and agree that we may access, preserve or disclose your account information, through the OneBanc Application or otherwise, including but not limited to personal information such as your name, address, mobile number, etc., if required to do so by law or in good faith, believing that such access, preservation or disclosure is reasonably necessary to (a) comply with legal process or the order of any government authority; (b) enforce these Terms; (c) respond to claims that the Registration Information (as defined below) like mobile number violates the rights of third parties; (d) carry out fraud verification of the credit / debit card details and other financial information provided; (e) respond to your requests for customer service; (f) increase the efficiency of the Services being provided; or (g) protect the rights and property of the OneBanc Application, its Registered Users and the public.
  • You further acknowledge and agree that we may require your personal details, including sensitive personal data and information, such as a government of India approved ID and address proof, and other financial information for you to avail our banking products and service on the Platform and accordingly such information will be collected, shared, and processed by us or third parties. However, we do not store such information in our systems. The collection, storage, use and sharing of your personal information, and other financial information will be in accordance with the Privacy Policy of the Platform which can be found here.
  • You acknowledge that the deletion of the OneBanc Application from your device does not constitute termination of your Platform Account and you must undertake the process of de-registration. You will have to provide the Company with a written request to have your name and other details removed from our records.
  • Subject to the eligibility criteria set out above, we reserve the membership and rights of admission to the Platform and the Services. Each Registered User must create, at the time of registration, a Platform Account to avail the Services provided via the Platform.
  • You are required to complete the online registration process by furnishing true, accurate, up-to date and complete personal information including your name as per your bank record, a valid phone number, valid and functional email address and any other KYC Documents or additional information that the Reserve Bank of India may prescribe to be necessary to satisfy KYC Guidelines, and other information as we may deem necessary ("Registration Information"). You understand and agree that OneBanc reserves the right to take all steps necessary to ensure compliance with all applicable KYC Guidelines, when required.
  • You shall bear in mind we and our automated system solely rely on the Registration Information provided by you on the OneBanc Application to provide efficient and effective Services to you, and we bear no liability for any false, incomplete, dated, or incorrect information provided by you.
  • In the event of any change in the Registration Information provided by you, you agree to update the said information promptly and duly on the OneBanc Application to ensure that the communications we intend to send to you are promptly delivered to you and are not sent to any other entity / third party. You may change your registered mobile number associated with your membership account through the profile section on the OneBanc Application.
  • During the registration process, you authorise us to access the one-time password (OTP) SMS which will be sent to you to enhance your Service experience. Further, you authorise us to access your banking transaction SMS for the sole purpose of providing the Services to you. Such collated information will be stored on OneBanc servers to provide you with such Services and will be removed from our servers once you delete your account with OneBanc.
  • Please read our Privacy Policy, which also governs your visit and use of the OneBanc Application, to understand our privacy practices. Such policy is an integral part of these Terms.
  • In the event you become aware of any unauthorised access or misuse of your Platform Account / information, you shall forthwith notify us. We will be not liable for any loss or damage arising from your failure to comply with this requirement.
Representations, Warranties and Covenants by the Registered User
  • You are aware of, and in compliance with all applicable domestic and international laws and will continue to be compliant if you are accessing and / or using the OneBanc Application.
  • You do not have any prior criminal conviction of any kind.
  • You are under no contractual or other restrictions or obligations that are inconsistent with the execution of these Terms or that will interfere with the performance of your obligations under these Terms.
  • You have, and will obtain in future, all government approvals necessary, if any, to use the OneBanc Application.
  • You and the Company have no agency, affiliation, association, endorsement, or connection in any manner whatsoever.
  • You understand that we do not exercise supervisory powers or control over the Registered Users.
  • All information uploaded or conveyed by you are accurate, true, and not misleading, and are at your sole risk, and the Company will not be liable for the accuracy, reliability thereof, or its compliance with applicable law. If you have reason to believe that there in an error in the information furnished to the Company, you shall immediately advise the Company in writing.
  • You will not host, display, upload, modify, publish, transmit or share any information through the OneBanc Application that: (a) is unlawful, harassing, threatening, invasive, libellous, defamatory, or that would otherwise violate applicable law; (b) contains nudity, obscenity or sexually explicit content; (c) may disparage any ethnic, racial, sexual or religious group or is otherwise abusive or inflammatory; (d) depicts or promulgates the use of drugs; (e) contains offensive language or images; (f) incites violence or characterises violence as acceptable; (g) contains unsolicited promotions, political campaigning, advertising or solicitations; (h) contains private or personal information about another Registered User or person; (i) contains corrupted data or other harmful, disruptive or destructive viruses, trojan horses, harmful code, denial-of-service attacks, packet or IP spoofing or other similar technology; (j) is in infringement of a third party’s intellectual property rights; or (k) belongs to another person that you have no right to.
  • You will not create multiple or duplicitous accounts.
  • You will always comply with the Information Technology Act, 2000 and the rules made under it, the Prevention of Corruption Act, 1988, the Prevention of Money Laundering Act, 2002 and all relevant rules and regulations in this regard, including, in relation to know-your-customer norms, anti-money laundering and combating financing of terrorism.
  • You will not use the OneBanc Application in a manner that could damage, disable, overburden, or impair our server or any network connected thereto, or interfere with any other person’s use and enjoyment of the OneBanc Application. You will not attempt to gain unauthorised access to any functions or features, other user accounts, computing systems or networks connected to any Company server in any manner including through hacking, password mining or any other means. You will not obtain or attempt to obtain any materials or information through any means which is intentionally not made available through the OneBanc Application.
Scope of the Services
The Services on the Platform include facilitating online opening of savings bank accounts through our Banking Partners, operation of the Registered Users’ Platform Account, execution of any related payment transactions, creation of savings pockets and availing other banking and financial services provided by the Platform and its approved third-party Service Providers.
Cards
  • The Company may, through its arrangements with its Banking Partners and Service Providers, issue debit and credit cards to Registered Users (“Cards”). Such Cards shall be governed by the terms prescribed herein, by specific terms issued by the Company from time to time and by the terms of the Banking Partners and / or Service Providers. You are advised to review the same before using or availing Card services.
  • You are to take all necessary steps to safeguard the Card, its PIN, OTPs, etc. from theft, misuse, fraud, and the like. All Cards shall be used only by the cardholder in whose name it is issued and shall not be transferable.
  • If the Card is lost or stolen, you are required to immediately inform the Company and its Banking Partner and / or Service Provider, file a report with the local police and request for it to be blocked, in addition to following the directions and instructions of the Card issuer. You will continue to be liable for all transactions and charges incurred by use of the Card until the required process has been followed.
  • The validity of the Card shall be as prescribed by the Company and the Banking Partner and / or Service Provider. Upon expiry, the Card may be replaced at the discretion of the Company and the Banking Partner and / or Service Provider, and you are required to destroy the expired Card.
  • All such cards shall always remain the property of the Company and / or the Banking Partner and / or Service Provider.
  • You hereby authorise the Company and the Banking Partner and / or Service Provider to debit your account with the number of withdrawals or transfers effected using the Card along with charges levied for the provision of the Services. All such transactions shall be binding on you.
  • The Company shall, in no way be liable to the Card holder or any third party if the Card is not honoured for any reason whatsoever, except if prescribed by applicable law.
  • The use of the Card in jurisdictions other than India is subject to applicable law, including directions issued by the Reserve Bank of India, and the onus of complying with the same rests on the Card holder. You agree to indemnify the Company and make good any loss, damage, penalties, interest, or financial charges that the Company may incur or suffer on account of any wrongful use.
  • You may use the Card at automated teller machines (“ATM”) in India or outside India, in accordance with the policy of the Company and its Banking Partner. The withdrawal of cash, balance inquiries and any other services availed at ATMs shall be subject to a fee / charge as per prevailing rates. You are responsible to maintain the confidentiality of your ATM PIN and the Company / Banking Partner will not be responsible for any losses arising out of the loss or misuse of the Card or the ATM PIN how so ever caused. You agree to adhere to all applicable law in the country where you are availing the ATM services.
  • It is the Card holder’s responsibility to ensure that the Card is used properly at Merchant establishments and that the sales slips are maintained by the Card holder.
  • The Company does not accept any responsibility for the supply of goods and services by the Merchant. Should the Card holder have any complaints concerning any Merchant or the goods and services availed, the matter should be resolved between the Card holder and the Merchant, and failure to do so will not relieve the Card holder from any obligations the Card holder may have towards the Company.
  • In case a Merchant or the Card holder wishes to cancel or reverse a transaction due to an error, on account of merchandise return, or for any other reason, the earlier sales receipt must be cancelled by the Merchant and a copy of the cancelled receipt must be retained in the Merchant’s possession. All refunds will be credited after due verification and in accordance with applicable law and policies. You understand and acknowledge that any debit requests during this time will be honoured based on the available balance in the account without considering refunds.
  • The Company reserves the right to disclose, in confidence, to other persons, such information concerning the Card holder and the Card holder’s Platform Account, as may be necessary for the provision of the Services.
  • You will always comply with the guidelines, rules and regulations issued by the relevant card payment network, and keep yourself up to date with such guidelines, rules and regulations. We will not, in any manner, be liable for your failure to comply with the same, including any costs, fines, penalties, losses or damages. We make take appropriate action on your failure to comply with such guidelines, rules and regulations including suspension / termination of the Services and freezing of your funds.
Fees and Lien
You will be liable to pay fees, interest, and other charges applicable on the usage of Cards in accordance with the terms and conditions communicated by the Banking Partner / card issuer from time to time. You may also be charged fees for the Services you have availed and the plan that you / your employer has opted for on the OneBanc Application. You hereby unconditionally and irrevocably authorise the Company / its Banking Partner to create a lien or set-off appropriate amounts accruing or accrued to you, to meet such fees, interest or charges or any other amounts due from you to the Company / Banking Partner / Service Provider. You further acknowledge that the Company reserves the right to charge additional fees on such services being rendered. All taxes on such fees as described in this section shall be borne by you.
Salary Accounts
  • You hereby acknowledge that your Platform Account with the Company has been opened by virtue of your employment with your employer / company and your account is designated as a “Salary Account”.
  • You understand that pursuant to the arrangement between your employer / company and the Company, and at the sole discretion of the Company, you may be entitled to certain facilities on the Salary Account during the currency of your employment with your employer / company or till the subsistence of the arrangement between your employer / company and the Company. You will be entitled to only those features and facilities of the OneBanc Application as availed by your employer / company.
  • You hereby agree to notify the Company immediately upon cessation of your employment with such employer / company. The Company may, in its sole discretion, close your Salary Account, upon reasonable belief that you have ceased to be an employee of your employer / company or if the Company is of the opinion that there have been no credits to your account at regular intervals.
  • You understand and acknowledge that the specific facilities offered to Salary Account holders are based on the agreement for, and subject to the regular credit of salary between the employer / company and the Company.
  • You agree that the Company reserves the right to change the status of / redesignate your Salary Account as it deems fit without any intimation to you, and the Terms as applicable to such account, and as published on our website, shall apply to you from the date of change of the status / designation.
  • You agree to maintain the average monthly balance applicable to your Salary Account / redesignated account. In case of failure to do so, the Company may recover a non-maintenance charge, as prescribed by the Company from time to time, which may be recovered from any account held by you, with or without notice to you.
  • You hereby irrevocably and unconditionally authorise the Company to, on the request of your employer / company to recover, by debiting, or by means of reversal of credit, any excess amount credited into your Salary Account without prior notice to you. You further authorise the Company to debit / reverse any amount on the instruction of your employer / company, credited to your Salary Account by fraud if any, committed by you and / or your employer / company or for any other reason. The Company shall not be held liable in any manner whatsoever for such reversal or debit.
Savings Accounts
  • Every Registered User will be required to set up a savings bank account (“Savings Account”) with the Company’s Banking Partner to avail the Services. Such Savings Account shall be subject to the Banking Partner’s terms and conditions, and you are advised to familiarise yourself with such terms and conditions. The Company shall in no way be liable for your failure to do so.
  • An eligible Registered User shall provide the Company / Banking Partner with all such documents as may be required for complying with the KYC Guidelines as mandated by the Reserve Bank of India while opening the Savings Account. You hereby agree that your disclosure of your Aadhar number is voluntary, and the Company / Banking Partner may access and use your identity information to the extent necessary for the performance of the Services.
  • Your Savings Account will be successfully created on you providing your phone number and validating the same with the OTP received on that number in the manner required by the Banking Partner.
  • On validation, you will be required to provide details such as name, PAN, Email ID, and other details as requested by the Banking Partner to complete the Savings Account opening process.
  • In case your mobile number is already linked to a Savings Account of the Banking Partner, no further registration will be required from your end. You will have to authenticate the existence of such account through OTP or grid card authentication. On successful authentication, the bank account of the Registered User will appear as the Platform Account and the Registered User may avail the Services provided by the Banking Partner.
  • You understand and agree that the Company and the Banking Partner reserve the right to take all steps necessary to ensure compliance with all applicable KYC Guidelines and legal requirements, when required. In the event the KYC Documents are incomplete, you will not be eligible to open a Savings Account and thereby not eligible to use the Platform. In case you have executed transactions through the OneBanc Application, the funds shall not be settled to your account if there are pending KYC obligations on your part. We reserve the right not to release the settlement amounts to you until full compliance with the KYC Guidelines.
Saving Plans
  • The Company, through its Banking Partners provides different savings plans for the Registered Users’ saving and spending goals. Each savings plan will also be subject to the Banking Partner’s terms and conditions.
  • The Company may require the Registered User to maintain a prescribed minimum deposit for availing and activating the savings plans.
  • The Registered User may set up standing instructions, which will enable them to save automatically by moving a pre-defined amount to the savings pocket from the Platform Account on a specified date every month.
  • Once the pre-set duration of the savings plans comes to an end and the Registered User’s savings plan matures, the amount standing to the credit of the Registered User in such plan will be automatically moved to the Registered User’s Platform Account, irrespective of the amount saved by the Registered User under the savings pocket.
  • The Registered User may cancel the savings pocket at any point of time by making a redemption request on the Platform and the pocket will be cancelled on the payment of a cancellation fee for the pocket as per the Banking Partner’s terms and conditions. On the cancellation of a savings pocket, the amount standing to the credit of the Registered User from the savings pocket will be moved back to the Registered User’s Platform Account.
  • The Company accepts no liability for any loss that may result from the savings pocket as the Company merely operates the OneBanc Application. The Company does not give any guarantee or assume any risk for the achievement of any return on the savings pockets. The returns on the savings pockets are completely determined by the Registered User’s choice and pre-defined goals as well as the Banking Partner’s policies and mandates of the Reserve Bank of India. You understand and acknowledge that the Company has no role to play in the savings pockets.
Current Accounts
  • You will be required to open a current account with the Company’s Banking Partner (“Current Account”) to be able to receive reimbursements of your expenses from your employer through the OneBanc Application from time to time.
  • You understand that for you to use a Current Account you will be required to declare existing credit facilities that you have with other banks and branches and obtain no objection certificates from such entities. You also agree to provide such other information as may be required of you from time to time.
  • Creation of a Current Account does not guarantee the provision of availability of credit. The Company and its Banking Partners may, in their sole discretion, choose to make available such credit facilities.
  • You may be required to maintain a minimum balance in your Current Account, which minimum shall be determined by the Company and / or Banking Partner from time to time.
  • By using credit facilities in your Current Account, you unconditionally undertake to repay, together with interest, the amounts of overdraft that the Company / Banking Partner / Service Provider is providing.
Rewards
  • Rewards that form a part of the Platform will be credited to your Platform Account after a purchase transaction or in app action, in accordance with the scheme of the Company and its Banking Partner and / or Service Provider.
  • Rewards may be of a fixed value or a percentage of spends in the form of cashback depending upon the offer details as determined by the Company / Banking Partner / Service Provider from time to time. The value of rewards will be calculated on the net transaction value.
  • Your eligibility to earn rewards depends upon the applicability of the offer, the terms and conditions of the offer and other instructions as determined by the Company / Banking Partner / Service Provider from time to time. You understand and agree that the rewards available to different Registered Users at any point in time may differ, and the Company / Banking Partner / Service Provider shall be the sole determinant of the relevancy of offers displayed to the Registered Users.
  • Rewards will be credited only for qualified purchases, and the transactions that qualify for rewards shall be determined at the sole discretion of the Company / Banking Partner / Service Provider. For example, transactions relating to online gaming, betting, gambling, lottery, payments to political institutions, payments made to restricted merchants, buy-now-pay-later schemes, transfers to digital wallets and international transactions may not qualify for rewards.
  • Each offer for rewards will have a validity period and will expire on such date as determined by the Company / Banking Partner / Service Provider.
  • Rewards may not be offered or be redeemable if: (a) the transaction is cancelled / reversed or the good purchased is returned; (b) the purchase is invalidated; (c) the Registered User was not eligible for the offer; (d) the usage of the Platform was for illegal / unlawful purchases; (e) the offer was not applicable on the payment method used; or (f) any other circumstance that the Company / Banking Partner / Service Provider may determine, in its sole discretion.
  • Some offers may have a waiting period or cool down period before rewards become redeemable. This may be required to accommodate adjustments pursuant to refunds and cancellations.
  • The Company / Banking Partner / Service Provider may prescribe a minimum number of reward points that need to be earned to make a redemption.
  • The Company / Banking Partner / Service Provider reserves the right to change, modify or prematurely remove any offer at its own discretion.
  • The Company / Banking Partner / Service Provider reserves the right to disqualify any Registered User in case of suspicion of fraud, or under any legal requirement, ad cancel rewards earned or credited by such Registered User.
  • In case of any dispute regarding rewards, the final decision shall lie with the Company / Banking Partner / Service Provider alone.
  • Nothing contained in these Terms shall be construed as a binding obligation on the Company / Banking Partner / Service Provider to offer or continue to offer any rewards scheme and the Company / Banking Partner / Service Provider reserves the right to discontinue its rewards scheme at any time without prior intimation and without assigning any reason thereto.
  • Redemption of reward points is voluntary, and any related charges will be deemed to have been voluntarily incurred by the Registered User.
NEFT
  • You must ensure the availability of funds in your account before executing NEFT transactions through the OneBanc Application. If the Company and its Banking Partner execute such transactions without sufficient funds being available, you will be liable to pay such amount credited along with applicable interest or charges.
  • The Company and / or its Banking Partner may fix the cut-off time for receiving instructions, and financial limits for NEFT transactions.
  • NEFT service charges will be debited from your Platform Account / Savings Account in accordance with the policy of the Banking Partner and regulations of the Reserve Bank of India.
  • You understand that NEFT requests are irrevocable, and you are responsible for the accuracy of the details given in the NEFT request. You are solely liable for the same and agree to compensate the Company and its Banking Partner for any loss arising due to errors in your NEFT request.
  • You agree to abide by the instructions and terms issued by the Banking Partner with respect to such transactions. You will also ensure that all NEFT transactions are undertaken in compliance with applicable law.
  • You understand and acknowledge that the Company and its Banking Partner may verify and authenticate transactions initiated by you, by following their security procedures. The Company and its Banking Partner may refuse to honour a transaction if there is reason to believe that the transaction is unlawful or fraudulent.
UPI
  • If you choose to use the unified payments interface (“UPI”) on the OneBanc Application, you will be solely responsible for linking the correct bank account and mobile number.
  • You must ensure that your mobile number is, always, updated with the Banking Partner, and with us. You may need to re-register your mobile number if you decide to change your number registered with us.
  • You are solely responsible for keeping all OTPs, PINs, and bank details confidential. You are solely responsible for all payments requests that you authorise, and the correctness of information therein.
  • You are responsible for all funds transferred using such UPI from your Platform Account, and you will not hold the Company or any other system participant liable for any delay in completion of transfers or losses on account of errors in execution by you.
  • You may choose to raise complaints with respect to UPI transactions in the mechanism prescribed by the Company / Banking Partner from time to time. If unresolved, you may approach the banking ombudsman, or digital complaints ombudsman, or other such authority as prescribed by applicable law.
Disclaimers
  • The Company is not a banking company or a lending company. The Company does not provide any services other than access to the OneBanc Application and thereby facilitates access to the various service providers listed on the OneBanc Application. All the Services such as savings bank account opening, loans, payment gateways, wallets, etc. are provided by the various Banking Partners and Service Providers listed on the Platform. Accordingly, the Company is not liable or responsible for any of the Services provided by such partner entities.
  • You understand that the OneBanc Application is only a technology-based platform that enables the Registered User to avail different banking and other financial services at a single location. In addition to these terms and conditions, the Registered User shall continue to be bound by the terms and conditions of the Banking Partner as well as all the terms and conditions of the Service Providers whose Services a Registered User avails.
  • Any Services or features availed through the Platform is done at your own discretion and risk, and you are solely responsible for any damage that results therefrom. We are not liable for, among other things, any actions or inactions of Merchants or other transaction counterparts nor any fraud, misrepresentation, misconduct, breach of conditions, representations, or warranties by such parties, and we expressly disclaim all liability in this regard. No advice or information, whether oral or written, obtained by you from us, creates any warranty not expressly stated in these Terms.
  • The Company may, at its sole discretion, make available to you Services, facilitating you to make payments of outstanding bills of certain Merchants. However, the Company shall not be liable or responsible for the timeliness of payment to, or receipt of payment by the Merchants, the accuracy of the bills / outstanding amounts or details thereof, to check for duplicate payments, any shortfall / excesses in the amounts paid, discontinuation of services by the Merchants or the quality of the goods and services being provided by the Merchants.
  • You consent to OneBanc access to, retrieval, storage and processing of information, data, records or material shared by Merchants that may or may not contain your personal information by accessing or using the OneBanc Application. The Company shall not, in any manner, be liable for the correctness or accuracy of such information, data, records or material shared by the Merchants, and you will not have any claim whatsoever against the Company for its reliance on such information, data, records or material or actions performed pursuant thereto.
  • The Company is not, in any manner whatsoever, liable for the usage of incorrect Merchant codes by the Merchants on the Platform which may lead to incorrect categorisation of your expenditure. While the Company shall, attempt to rectify the same at the earliest, the Company will not be liable, in any manner whatsoever, for any loss resulting from such incorrect categorisation.
  • You understand that the Company does not provide you with any certification, guarantee, warranty, or professional advice with respect to the Services. By accessing, browsing, or using the Services, you acknowledge that you understand this limited use, and that you will not rely on the information and materials provided to you for any purpose except as they are intended. Use of the Services is not a replacement for personal or professional advice or assistance regarding your finances or credit history.
  • We expressly disclaim all warranties, whether express, implied, or statutory, regarding the Services and the OneBanc Application including without limitation any warranty of merchantability, fitness for a particular purpose, title, security, accuracy and non-infringement.
  • If you intend to use the features available in respect of the Services, you shall make an informed decision about submitting your personally identifiable information. We shall take all reasonable efforts to not share any of the personally identifiable information submitted by you to any third party, except as required under our business model, the directions of the Reserve Bank of India and other applicable laws or to the limited extent necessary for us to provide you access to the Platform.
  • The Company will make reasonable efforts to always make available the OneBanc Application. However, we make no warranty that they will meet your requirements, be uninterrupted, timely, secure or error free. We do not make any warranty as to the facilities that may be obtained from the use of the OneBanc Application or the reliability or quality thereof.
  • The Company is not a payment gateway or a payment aggregator and does not participate in the money flow between Registered Users and Banking Partners / Service Providers. The Company is merely a technology service provider, and is not liable, in any manner whatsoever, for any incorrect credits or debits in your Platform Account which will be attributable to the Registered User / Banking Partner / Service Provider.
  • You understand and acknowledge that the Company is not liable to ensure that you realise the percentage of savings or increase in income as advertised by it, and any savings or increase in your income depends on the features of the OneBanc Application opted for by your employer / company, the Company policies and adherence to applicable law. You agree that any such savings or increase in income advertised are for the purposes of indication alone, and you agree to hold the Company harmless against any losses, damages or inconvenience caused by your failure to realise such savings / increase in income.
  • You agree and acknowledge that you will be liable to pay all taxes, and interests and penalties thereon, arising out of transactions in accordance with the Income Tax Act, 1961 and all other applicable law. You agree that the Company will not, in any manner, be responsible for any taxes, interests, penalties, levies or charges that are payable by you or that arise because of your non-compliance with these Terms.
Record of Transactions and Urgent Requests
The Company’s record of transactions made from or to the Platform Accounts and through the OneBanc Application and maintained in its computer systems shall be accepted by the Company as conclusive and shall be binding on you. You agree and undertake to accept such records without demur or protest. The processing of transactions through the electronic medium may take time, and for any stop payment, or other urgent or important requests, you must follow up with the Company and ensure that the required action is undertaken.
Processing of Transactions
  • Once you give an instruction through the OneBanc Application, you will not be able to reverse it. The Company is under no obligation to reverse such instruction, or to accept conditional or reversible instructions. The Company may, at its discretion, attempt to do so, to the extent reasonably practicable, and permissible under applicable law, and shall do so at your cost.
  • All financial information available to you by means of the OneBanc Application is for reference only, and do not reflect the actual position with the Banking Partners or Service Providers, or other transactions that are not yet processed or verified. The Company shall not be liable for any loss incurred or damage suffered by you, because of such financial information.
  • The Company shall endeavour to facilitate transactions received, subject to the availability of sufficient funds. The Company will not be liable for any omission to make payments or delayed payments due to circumstances beyond its reasonable control.
Funds
  • You hereby agree not to attempt to transfer funds without sufficient funds in the concerned Platform Account. You understand and agree that the Company / Banking Partner / Service Provider shall not be liable for any consequences arising out of non-compliance with your instructions due to inadequacy of funds.
  • However, the Company may, at its discretion, carry out the instructions notwithstanding inadequacy of funds / credit facility without prior notice to you, and you shall repay with interest and all related charges, the resulting advance / credit / overdraft, at such rates as the Company may, in its sole discretion, determine.
  • You understand and acknowledge that frequent dishonour of transactions due to insufficiency of funds may lead to closure of your Platform Account.
Limits
The Company and its Banking Partners / Service Providers may at their sole discretion, set and reset limits for transactions that may be carried out through the OneBanc Application which shall be subject to the minimum balance to be maintained. The Company and its Banking Partners / Service Providers shall not be responsible for any loss or inconvenience that you may suffer due to such limits.
Cheques
  • The Company and / or its Banking Partner or Service Provider may issue cheque books to persons having a Platform Account at such charges as indicated from time to time.
  • You hereby agree to draw all cheques in accordance with the terms and conditions of the Banking Partner and / or Service Provider in addition to these Terms. You agree to draw cheques in a way to prevent alteration after issue, and all alterations must be authenticated. The Company / Banking Partner / Service Provider reserves the right to refuse payment of cheques that it has reason to believe have not been drawn or authenticated properly.
  • The Company and / or Banking Partner or Service Provider may deny issuing a cheque book to you, for any reason whatsoever, and may also choose to discontinue a cheque book, and the Company / Banking Partner / Service Provider will not be responsible for any loss or inconvenience caused to you as a result thereby.
Account Statements and Passbook
  • Account statements for each account shall be issued at such frequency as determined by the Company at its sole discretion. You acknowledge that the statements of accounts sent to you may not be signed on behalf of the Company.
  • If you notice any error in the statements issued to you, you are required to intimate the Company within such period as may be prescribed by the Company from time to time, failing which it shall be deemed to have been accepted by you. If you become aware of any transactions in your account that have not been validly authorised by you, you are required to inform the Company immediately. The Company will endeavour, but not be obliged to correct the error and adjust interest or charges arising therefrom. The Company shall not be liable for any consequence arising out of any delay, lapse, omission, or neglect on your part to inform the Company, and you are solely liable for consequences and losses that may occur as a result thereof.
  • You hereby authorise the Company to engage and utilise the services of third parties / vendors to prepare and mail statements and other documents and material and agree not to hold the Company responsible for documents, statements and material lost in mail. Statements and messages sent by Company is at the entire risk of the Registered User.
  • You may contact the Company for duplicate statements.
  • You must carefully examine all entries made in your passbook and immediately notify the Banking Partner and / or the Company of any errors, omissions or discrepancies discovered. You must ensure that your passbook is updated regularly and stored in a safe place.
  • You must not fill up the passbook or make entries in your own hand, and must adhere to all rules, guidelines and instructions issued by the Company and / or Banking Partner in this regard.
  • The Company accepts no responsibility for any claim arising out of your failure to update, maintain or examine your passbook, or to notify the Company and / or Banking Partner of discrepancies therein.
Security
  • The Company may apply such technology as it deems fit to ensure the security of and prevent unauthorised access to the OneBanc Application. The Company shall endeavour to use the best technology, but you understand and acknowledge that it may not be possible to always keep the system fool-proof and tamper-proof.
  • You agree and acknowledge that you are responsible for maintain the secrecy of your account details, passwords, and PINs. You are also required to comply with all other requirements designed to protect the security of your use of the OneBanc Application, as set out in these Terms or notified, from time to time.
  • You agree to change your password and / or PIN at regular intervals, or when required by the Company, to use passwords that are not likely to be guessed by others or that have been used before, and to not disclose your password to third parties. You agree to not record passwords and / or PINs in a way that is legible or accessible to third parties, to not leave your systems and devices unattended, and to not allow third parties to operate your Platform Account on your behalf.
  • If you discover that your password and / or PIN are known to someone else, please change the same at the earliest, and notify the Company. All transactions done prior to such notification are entirely at your risk and cost.
  • You agree to indemnify the Company for all losses suffered as a result of your negligence or failure to comply with the prescribed security procedures.
Additional Terms and Conditions
  • You agree not to pay any amount in cash to any person who is or claims to be a representative of the Company / Banking Partner / Service Provider and any such payments made shall be your sole responsibility and liability.
  • You expressly agree that your usage of the OneBanc Application may be monitored, tracked, and recorded. We reserve the right in our sole discretion to review the activity and status of each Platform Account and block the account based on such review, if need be.
  • As long as you are a Registered User of the OneBanc Application, you hereby confirm that you do not have any objection to receiving communications from us and / or other Registered Users, Merchants, Service Providers and Banking Partners of the OneBanc Application. This consent extends to emails, SMS, other texting service messages or telephone calls relating to phone number verification, the provision of Services, related inquiries, and promotions. You confirm that the content and information including the personal information provided by you are correct and accurate. In addition, you will ensure that the name provided by you at the time of registration is as per your bank records.
  • You are strictly prohibited from unauthorised use of the OneBanc Application, including unauthorised entry into our systems, misuse of passwords, or misuse of any information posted to the OneBanc Application or other communications made to you. We reserve the right to take immediate steps as deemed appropriate in our sole discretion to protect the OneBanc Application and / or our other Registered Users against any abuse / misuse.
  • We reserve the right to screen communications that you may make / upload / publish and regulate the same by deleting unwarranted / abusive communications / advertisements at any time at our sole discretion without prior notice to you.
  • As a Registered User of the OneBanc Application, you are expected to exercise precautions for your own privacy and safety, such as not sharing your savings account number or transaction details, not sharing OTPs, PINs, personal data, or information, etc.
  • We may share your information with third parties who perform services on our behalf. We share information with our vendors who help us manage our online registration process or payment processors or transactional message processors. We may share information with third parties and or business partners who fulfil purchase and / or financial obligations. Such third parties may use the information we give them as described in their privacy policies. We are not responsible for these third-party websites / privacy policies. We encourage you to read the privacy policies of such other third parties carefully before using the OneBanc Application.
  • We may also share your information with or receive your information from third parties including the Banking Partner / Service Provider and other third parties such as credit information companies, credit bureaus and account aggregators. You hereby consent to our accessing, storing, processing, utilising, and sharing such information in the performance of the Services and in providing you access to the OneBanc Application. You agree that we will not, in any manner whatsoever, be liable for actions or omissions of such third parties in dealing with your information.
  • You agree and acknowledge that we may collect and use your geographic location data for the purpose creating your account or of issuing a GST invoice, if applicable, and to personalise and improve the Services provided to you.
  • The Company will make all reasonable effort to ensure that your information is kept confidential. However, the Company will not be responsible for any disclosure or leakage of confidential information or loss or damage to the device on which the OneBanc Application is located due to theft, negligence, or failure on your part to practice safe computing. Further, the Company will not be liable for the loss or damage to confidential information or data arising because of an event or a series of related events that is beyond the control of the Company including problems with the internet, attempted hacker attacks, hacker attacks, denial or service attacks, virus or malicious software attacks or infections and other events of like nature.
  • You understand and acknowledge that all payments made on the OneBanc Application are subject to applicable law, including the Income Tax Act, 1961 and the Foreign Exchange Management Act, 1999.
Intellectual Property
  • We may, in our sole discretion, permit you to upload, publish or post content (“User Content”) on the Platform. By doing so, you grant us an irrevocable, worldwide, perpetual, non-exclusive, transferable, royalty-free licence along with the right to sub-licence, modify, distribute, use, adapt, copy and otherwise exploit User Content.
  • All the content on the OneBanc Application, including, amongst other things, the page headers, images, illustrations, graphics, audio clips, video clips, text, trademarks, and trade names (“Service Content”) constitute our and our licensors’ intellectual property. Intellectual property rights laws including copyright laws in all applicable jurisdictions protect the OneBanc Application and the Service Content.
  • You may access the OneBanc Application, avail its features and facilities, and utilise the Service Content for your personal requirements only. You are not entitled to duplicate, distribute, create derivative works of, display or commercially exploit the Service Content, features, or facilities, directly or indirectly, without our prior written permission.
  • We / our licensors are the sole owners of the underlying software and source code associated with the OneBanc Application and all trademarks, copyright, and any other intellectual property rights of any nature in the OneBanc Application. Permission provided by the Company to access and use the OneBanc Application does not convey any proprietary or ownership rights in such intellectual property as described above.
No Warranty
You expressly acknowledge and agree that use of the OneBanc Application is at your sole risk and that the entire risk as to satisfactory quality, performance, accuracy, and effort is with you. To the maximum extent permitted by applicable law, the OneBanc Application and all Services performed or provided by or through the OneBanc Application are provided “as is” and “as available”, with all faults and without warranty of any kind, and the Company hereby disclaims all warranties and conditions with respect to the OneBanc Application and all Services, either express, implied or statutory, including, but not limited to, implied warranties and / or conditions of merchantability, satisfactory quality, fitness for a particular purpose, accuracy, quiet enjoyment, and non-infringement of third party rights. The Company does not warrant against interference with your enjoyment of the OneBanc Application, that the functions contained in, or Services performed or provided by the Company, Banking Partners or Service Providers will meet your requirements, that the operation of the OneBanc Application or services will be uninterrupted or error-free, or that defects in the OneBanc Application will be corrected. Should the OneBanc Application or Services prove defective, you assume all resultant costs bearing upon you.
Indemnification
The Registered User agrees to, and shall indemnify and hold the Company and each of its employees, agents, directors, officers, representatives, consultants and contractors harmless against all actions, claims, liabilities, demands, proceedings, losses, damages, costs, charges and expenses whatsoever (including reasonable attorneys’ fees), which they may at any time incur, sustain, suffer or be put to as a consequence of, by reason of, or arising out of (a) breach of the Registered User’s representations and warranties or these Terms; (b) improper use of the Platform Account and / or Services; (c) the actions or omissions of a holder of power of attorney; or (d) by reason of the Company in good faith taking, refusing to take or omitting to take action on any instruction given by the Registered User due to acts or omissions of the Registered User, including but not limiting to: (i) failure to intimate the Company when you suspect or knows that your passwords are known to third parties or when third parties use your passwords for carrying out unauthorized, unlawful or illegal transactions; (ii) failure to keep confidential and secure the passwords from third parties; (iii) failure to inform the Company of any changes in your personal information or account information; (iv) unauthorised, unlawful or illegal access to the computer system / network and / or data of the Company; (v) failure to comply with applicable law; (vi) failure to comply with the usage guidelines issued by the Company; and (vii) failure to comply with these Terms and any agreement between the Company and you.
Limitation of Liability
In no event shall OneBanc or any of its subsidiaries or affiliates be liable to you or any person for any direct, indirect, special, consequential or other damages whatsoever based on contract, tort, negligence, strict liability or otherwise (including, without limitation, any lost profits, business interruption, loss of information or programs or other data on your information handling system) that are related to the use of, or the inability to use, the services and functions of the OneBanc Application or any linked website / mobile application, even if OneBanc is expressly advised of the possibility of such damages. This section will survive the termination of these Terms.
Termination
  • We reserve the right to terminate or suspend the Services, the Platform, or any other feature on the Platform by giving 30 (thirty) working days’ notice to you. The notice will be delivered by email or SMS, subject to your providing a valid phone number or a valid email ID to us. Notwithstanding the foregoing, you acknowledge and agree that the Company may at any time, in its sole discretion, terminate the Services or close a Platform Account without notice, if it is of the opinion that continuation of the same is prejudicial to the Company’s interests.
  • The Company shall also be entitled to freeze operations in any Platform Account with or without notice, if the Company suspects fraud, mischief, or impersonation, or if it directed to do so by a regulatory authority, for such period as it may deemed fit until it is convinced that operations in the Platform Account can be continued. You agree to provide all clarification sought by the Company, and the Company shall not be responsible or liable for any losses, expenses or costs suffered by reason of freezing of your account.
  • We assume no liability whatsoever, direct, or indirect for termination or suspension of our Services or for changing / altering the OneBanc Application.
  • You may choose to close your Platform Account or discontinue availing Services at any time. The Company is entitled to refuse the closure until all dues and charges have been paid in full.
  • Upon termination / suspension you may choose to avail the Services provided by the Banking Partners or other Service Providers directly from them.
Updates
The Company reserves the right to update the OneBanc Application, to, amongst other things, increase efficiency, optimise user interface, and add new facilities from time to time. Update packages may be sent to your device for download and installation. You agree to install the updates from time to time and acknowledge that the Company will only be able to provide account support for the Platform Account if you ensure to install all updates upon receiving a notification for the same. You will, at your cost, procure, maintain, and upgrade all software, computer and communication systems and devices as required to access the OneBanc Application and be solely responsible for the same.
Confidentiality
  • You agree not to disclose or attempt to use or personally benefit from any non-public information that you may learn on the OneBanc Application or access using the Services. This obligation shall continue until the non-public information becomes publicly known. If you are compelled by an order of a court or other legal / statutory authority requiring you to divulge such confidential information, you agree to notify the Company promptly and diligently, and to cooperate with the Company in protecting the data to the maximum extent possible.
  • The Company may access, preserve and disclose your information, if required to do so by law, or if the Company believes, in good faith, that it is reasonably necessary in terms of responding to claims asserted against the Company or to comply with legal process, for preventing fraud, risk assessment, investigation, user support, product development, debugging, and protecting the rights, property or safety of the Company, its affiliates, Registered Users and members of the public.
Disclosure of Information
  • You hereby agree and consent to the Company’s disclosure of your information to its Banking Partners, Service Providers, Merchants, affiliates, and other persons, in strict confidence.
  • You agree that the Company may hold and process your personal information for the purposes of statistical analysis, credit scoring, and for any other purpose associated with your use of the OneBanc Application and / or the Services being provided.
Communication
  • You agree to receive alerts, notifications, offers, discounts, and such other general communication via SMS, push notifications, or by email, as a part of your use of Services.
  • You agree that the Company may also send you payment reminders from time to time and may use your contact information for its collection efforts in recovering dues from you.
  • You will immediately inform the Company if you observe any error in the information provided or communication made, and the Company will make best efforts to rectify such error at the earliest. You will not hold the Company liable for any loss, damage, claim, expense, or cost incurred or suffered due to such communication.
Independence from Platforms
The OneBanc Application is independent of any application store or platform on which it is located. It is not associated, affiliated, sponsored, endorsed or in any way linked to any application store or platform operator. Your downloading, installation, access to or use of the OneBanc Application is also bound by the terms and conditions of the application store or platform operator which you are advised to familiarise yourself with.
Notices
The Company may give notices to Registered Users under these Terms either electronically, to the Registered Users’ email addresses registered with the Company, or by hand or registered post to the address provided by the Registered User. You may contact the Company at the relevant address specified in these Terms.
Remedies
The rights, powers, privileges, and remedies provided under these Terms are cumulative and not exclusive of rights, powers, privileges or remedies provided by applicable law. These Terms do not prevent the Company from enforcing its rights under applicable law. The Company, in addition to other remedies available to it, is entitled to seek (a) a decree or order of specific performance to enforce the observance of the Terms and/ or (b) an injunction restraining a breach or threatened breach of the Terms.
Severability
If any provision of these Terms is held to be illegal, invalid, or unenforceable under any present or future laws such provision will be replaced with another which is not unenforceable or prohibited and which as far as possible has the same legal and commercial effect as that which it replaces. Further, the remaining provisions of the Terms will remain in full force and effect and will not be affected by the illegal, invalid, or unenforceable provision or by its severance from these Terms.
Waiver
Any failure on part of the Company to require performance of any provision of these Terms will not affect its right to full performance of such provision at any time thereafter, and any waiver by the Company of a breach of any provision of these Terms will not constitute a waiver of a similar breach in the future or any other breach.
Force Majeure
The Company shall not be liable for any breach of these Terms, due to any force majeure event such as an act of God, fire, lightning, explosion, flood, inclement weather conditions, power failures, internet outages, failure in any communication systems, equipment breakdown, strikes, lock-out or any other cause beyond the control of the Company and the performance of the Services shall be suspended until such event is resolved.
Entire Agreement
These Terms contain the entire agreement and supersede all prior and contemporaneous understandings between the parties regarding their subject matter.
Assignment and Subcontracting
  • You will not assign or transfer any rights, obligations, or privileges you have under these Terms without the prior written consent of the Company. The Company may feely assign its rights and obligations under these Terms. Any assignment or transfer in violation of this section will be deemed void.
  • Further, the Company may sub-contract any part of these Terms, and the Company will not be responsible for any negligence, fraud or other actions or omissions of such sub-contractors outside the scope of their engagement or authority.
  • These Terms are binding on the successors and permitted assigns of both parties.
Headings
All headings used in these Terms are for convenience only and shall not be used to limit or interpret the Terms.
Validity of Terms
These Terms apply when you access or use the OneBanc Application or hold a Platform Account and will remain valid for as long as you continue to do so.
Dispute Resolution, Jurisdiction and Choice of Law
  • In the event of any controversy or dispute between the Company and you, arising out of or in connection with your use of the OneBanc Application, the parties to the dispute shall attempt, promptly and in good faith, to resolve the dispute. If the parties are unable to resolve the dispute within a reasonable time (not exceeding 30 (thirty) days from the first notice of the dispute), either party to the dispute may refer it to an arbitral tribunal comprising of a sole arbitrator appointed by the Company. The arbitration proceedings will be governed by the Arbitration and Conciliation Act, 1996 and the rules framed under it. The venue, place and seat of the arbitration will be Gurugram, India and the language of the arbitration proceedings will be English. You hereby waive any objection to such proceedings on grounds of venue. The award rendered will be in writing, with the reasons for the decision. The award will allocate or apportion the costs of the arbitration as the arbitral tribunal considers fair. The award made will be final and binding on the parties thereto. Either party to the arbitration may seek interim or preliminary relief from a court of competent jurisdiction in Gurugram, India, necessary to protect the rights or property of the party while the arbitration is pending. The proceedings, content and results of the arbitration shall be confidential.
  • Subject to arbitration as described above, you irrevocably consent to the exclusive jurisdiction of the courts at Gurugram, India. Notwithstanding the same, the Company reserves the right to bring / file a claim in any other competent court or judicial forum having jurisdiction, whether in India or outside India. These Terms shall be governed by the laws of Republic of India without giving effect to its conflict of laws provisions.
  • Notwithstanding anything contained in these Terms, in the event of a breach of apprehended / threatened breach of these Terms, or any documents pertaining to the Services being rendered, the Company shall be entitled, in addition to all other remedies, to an injunction restraining such breach without needing to take recourse to arbitration.
Please email us at compliance@onebanc.ai if you have any questions regarding these Terms.
Acceptance
You hereby acknowledge that you have read, reviewed, and understood these Terms. You unconditionally agree to abide by the Terms and all applicable law including the Income Tax Act, 1961, the Foreign Exchange Management Act, 1999, and the rules made thereunder, and other rules, regulations, guidelines and directions of the Reserve Bank of India and any other regulatory / statutory authority, as prescribed and amended from time to time.
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Last reviewed by Compliance Head on 15 July, 2022