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Bank Policies

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Privacy Policy

The purpose of this Privacy Policy is to put on record the Bank’s commitment in ensuring privacy and confidentiality of customer information. This policy is applicable to the Bank’s website, the Internet Banking Service and/or all online services offered by the Bank.

All visitors who visit the Bank’s website and provide information to the Bank are covered under this Policy.

This information may be:

Personal/private information of the visitors: "Personal information" means any information that relates to a natural person, which, either directly or indirectly, in combination with other information available or likely to be available with a body corporate, is capable of identifying such person.

Sensitive personal data or information of the visitors: "Sensitive personal data or information" of a person means such personal information which consists of information relating to

• Password;

• Financial information such as Bank account or credit card or debit card or other payment instrument details;

• Sexual orientation;

• Medical records and history;

• Biometric information;

• End user device details.

• Government issued Identification documents such as AADHAAR, PAN, Driving License etc. provided that, any information that is freely available or accessible in public domain or furnished under the Right to Information Act, 2005 or any other law for the time being in force shall not be regarded as sensitive personal data or information for these purposes.

Aadhaar Related Privacy Policy

The Bank is a Global KYC User Agency (KUA) authorized to undertake eKYC Authentication for those constituents who are desirous of receiving any benefit or subsidy under any scheme notified under section 7 of the Aadhaar (Targeted Delivery of Financial and Other subsidies, Benefits and Services) Act, 2016 (18 of 2016). In such case the bank will collect the Aadhaar Number. Every Aadhaar number holder to establish his identity, may voluntarily use his Aadhaar number in physical or electronic form by way of authentication or offline verification, or in such other form as may be notified, in such manner as may be specified by regulations.

The Bank will also undertake the Biometric Authentication through finger, face, IRIS or a combination of both. For every such authentication a separate consent will have to be given by the constituent for each and every request.

The bank also confirms that no core biometric information will be stored at the bank’s end. The same shall be destroyed immediately on submission of the request to the CIDR.

Once the Aadhaar Number and Biometric is duly authenticated the CIDR will return the Name, Date of Birth/Year, Gender and the address details which will stored by the bank as a part of the account opening process. The Aadhaar number will be tokenized and stored in the Data vault by the bank, as instructed by UIDAI, to maintain the security of the information.

The customer will have the right to request the Bank for the authentication records up to 2 years from the date of authentication. A formal request has to be made for the same to the bank in writing/email

This information shall be shared without the Aadhaar number or images of the Aadhaar card to the Regulatory bodies/Repositories like CERSAI/KRA/NPCI Mapper /Credit Bureaus/NHB/HUDCO operating in India depending upon the business need of the constituent. Details without the Aadhaar number will also be shared with the field verification agencies in case of borrowal accounts

In case the customer submits the Aadhaar number or physical image voluntarily as a part of the account opening for undertaking KYC by the bank, the bank shall store only the last four digits of the Aadhaar number and other related information.

This Policy protects private information of the visitors provided online to the Bank and any information collected by the bank’s servers from the visitors’ browsers ("the Information").

This information will be used to carry out any obligation related to the customer’s business relationship with the Bank. Additionally, the bank may use this information for its operational and management requirements such as but not limited to statistics, product promotions, market survey, product development, creditworthiness evaluation and/or , debt collection, customer relationship management, fulfilling all statutory and regulatory obligations and all other legitimate purposes.

This information will not be disclosed to any parties outside the bank unless the customer requests or authorizes it, the disclosure is required by law or the disclosure is needed for a third party authorized by the bank to provide services to the customer. The bank will take reasonable steps to ensure that the third party follows the minimum standards in protecting the privacy and confidentiality of customers' information.

The bank may collect information regarding usage of bank web site for analysis, for instance users visiting certain pages more often than others through the usage of cookies. Cookies are text files with small amounts of information (does not include personal sensitive information) that a website stores on the customers computers.

A cookie may be retrieved and read by the same site later. Cookies help to provide a personalized browsing experience while allowing users to navigate between pages efficiently, remember preferences, and providing a generally improved browsing experience. User(s) agree through the usage of our bank website, to have cookies placed on his/her device. User(s) is/are free to disable or delete these cookies by changing their web browser settings accordingly. The Bank is not responsible for cookies placed in users’ device by any other website and collecting information.

The bank is committed to implementing high computer security standards with stringent procedures and policies in safeguarding customers' information. The commitment to customers' privacy and confidentiality is clearly evident in the bank’s Security Policy.

The bank will try to keep all customers' information as updated as possible. It is therefore required that all customers provide accurate information to bank and also notify all changes, inaccuracies, incompleteness or errors found in their information lodged with the bank in a timely manner. Only duly authorized employees are permitted to access the actual data of customers.

The Bank undertakes not to disclose the information provided by the customers to any person, unless such action is necessary to:

• Conform to legal requirements or comply with legal process;

• Enforce the terms and conditions of the products or services; or

• Act to protect the interest, rights, property of Bank, its Affiliates, or its members, constituents or of other persons.

The Customers shall not disclose to any other person, in any manner whatsoever, any information relating to the Bank or its Affiliates of a confidential nature obtained in the course of availing the services through the website. Failure to comply with this obligation shall be deemed a serious breach of the terms herein and shall entitle the Bank or its Affiliates to terminate the services, without prejudice to any damages, to which the customer may be entitled otherwise.

The Bank will limit the collection and use of customer information only on a need-to-know basis to deliver better service to the customers. The Bank may use and share the information provided by the Customers with its Affiliates and third parties for providing services and any service-related activities such as collecting subscription fees for such services, and notifying or contacting the Customers regarding any problem with, or the expiration of, such services. In this regard, it may be necessary to disclose the customer information to one or more agents and contractors of Bank and their sub-contractors, but such agents, contractors, and sub-contractors will be required to agree to use the information obtained from the Bank only for these purposes.


THE MOBILE APPLICATION PRIVACY POLICY

The Bank is committed to protect the privacy of the personal information of its customers, including information that is collected due to the customer's use of the Bank mobile App hosted on Google Play Store or App Store (iOS).

The Bank does not collect any personal information from the customer while the customer visits / uses / surfs the Bank App and the customer can visit / use / surf the Bank App without providing any personal information.

The customer agrees that the Bank may use Customer Information for the purpose of statistical analysis and for creation of data ("Statistical Information"), which does not contain individual Customer Information. In addition to the information that the Bank elicits from the customer, the customer is free to volunteer any other information that the customer feel that the Bank needs to know, but the security and confidentiality as per this Policy is guaranteed only to the information that the Bank directly asks from the customer.

This Policy holds true for a non-customer who has provided information to the Bank, by any means, with the intentions of establishing a relationship, of whatsoever nature, with the Bank. By divulging any information to us the customer agrees to the terms and conditions of this Policy.

This Policy holds true for a non-customer who has provided information to the Bank, by any means, with the intentions of establishing a relationship, of whatsoever nature, with the Bank. By divulging any information to us the customer agrees to the terms and conditions of this Policy.

Use of Customer Information / Statistical Information:-

The Bank may use the Customer Information for, among other things, customer verification, provision of products and services, for personalization of products or services, marketing or promotion of the Bank financial services or related products or that of the Banks associates and affiliates; for creation of Statistical Information, statistical analysis or credit scoring, enforcement of the customer’s obligations, any other purpose that will help us in providing the customer with optimal and high quality services.

Disclosure:-

• The Bank shall not be held liable for disclosure of the Customer Information or Statistical Information in accordance with this Privacy Commitment or in terms of any other agreements with the customer.

• The Bank may disclose the Statistical Information to any person/ authorities/ Banks regulators, without any limitation and the customer hereby give irrevocable consent for the same.

• The Bank may disclose Customer Information to any of its associates and affiliates, without any limitation and the customer hereby give the customer’s consent for the same.

• The Bank may disclose the Customer Information, to third parties, without limitation, for the following reasons and the customer hereby give the customer’s irrevocable consent for the same:-

• To comply with legal requirements, legal process, legal or regulatory directive/ instruction. or

• To enforce the Terms and Conditions of the products or services. or

• To protect or defend Banks rights, interests and property or that of its associates and affiliates, or that of Banks Affiliate's employees, consultants etc. or

• For fraud prevention purposes. or

• As permitted or required by law.

• The Bank may disclose the Customer Information to third parties for following, among other purposes, and will make reasonable efforts to bind them to obligation to keep the same secure and confidential and an obligation to use the information for the purpose for which the same is disclosed, and  t h e c u s t o m e r hereby give the customer’s irrevocable consent for the same: -

• For participation in any telecommunication or electronic clearing network. or

• For credit rating by a credit rating agency. or

• For advertising. or

• For facilitating joint product promotion campaigns. or

• For the purposes of credit reporting, verification and risk management to/ with clearing house centers or credit information bureau and the like. Or

• For availing of the support services from third parties e.g. collecting subscription fees, and notifying or contacting the customer regarding any problem with, or the expiration of, any services availed by the customer.

• To develop and improve Banks services to the customer and notify the customer about changes to its services.

Security :- 

The Bank has taken reasonable measures to protect security and confidentiality of the Customer Information and its transmission through the World Wide Web/Mobile App. the customer are required to follow the Terms and Conditions while using this App including the instructions stated therein in respect of security and confidentiality of t h e c u s t o m e r ’ s Log-in and Password.

All information the customer provides to the Bank is stored on Banks secure servers. Any payment transactions will be similarly secure. Although Bank will do its best to protect the customer’s Information, the Bank cannot guarantee the security of the customer’s Information transmitted to its Site; any transmission is at the customer’s own risk. Once the Bank have received the customer’s Information, it will use strict procedures and security features to try to prevent unauthorized access.

The information provided by the customer is stored on Banks secure servers. Any payment transactions will be similarly secure. Where Bank have given the customer (or where the customer have chosen) a user name, pass code and memorable word which enables the customer to access certain parts of Bank Site, the customer are responsible for keeping this user name, pass code and memorable word confidential. the customer must not to share these with any one.

Security and confidentiality of Customer Data

1. As per Information Systems security policies and procedures implemented in the Bank, Bank has implemented administrative, physical and technical safeguards to protect electronic personal data from loss, misuse and unauthorized access. Customers’ personal data shall be stored on a secured database.

2. Bank shall not sell personal data to any third party or anybody and shall remain fully compliant with confidentiality of the data as per law.

3. Bank shall share customers’ personal data to third party if required for business purpose only after implementing adequate controls to ensure   maintenance of confidentiality and security of the data by the concerned third party.

4. Auto Read OTP functionality: -It is recommended that each process of OTP validation shall have auto read facility of OTP in the Mobile application. Whenever the OTP send to the customer, mobile app shall auto populate the OTP in the required field instead of entering by keypad.

5. SMS forwarding App / Remote access App: It is recommended that; the Mobile Application can have an ability to identify the “SMS forwarding Apps” as well as “Remote Access Apps” installed on the User’s handset. Based on the “AppID” of these kind of Apps, Mobile App shall restrict the users to access the login to the application if user have installed the listed apps.

6. SMS Delivery status facility: SMS vendor should have Call back facility available to verify the status of SMS send from our end, also SMS vendor have “SMS Delivery receipt check” to know the delivery status of the SMS forwarded from our end.

7. Mobile banking Application shall have ability to read/detect Installed Application on user’s device and upload it on bank’s secure server for keeping safe track of existing applications. App shall prohibit/restrict Mobile Banking Application usage incase of any listed application with likes of remote access applications and sms forwarder applications is detected.

8. By agreeing to terms within Mobile banking application and written consent form undertaken from user during opting mobile banking feature it will be considered user have provided affirmative consent for all above mention disclosures.

Changes To Banks Privacy Policy

Any changes to Banks Privacy Policy in the future will be posted on this page. It is important that the customer review this Privacy Policy regularly to ensure that the customer are aware of any updates.


CUSTOMER COMPENSATION POLICY

Introduction:-

The Bank’s endeavor has been to provide efficient services to its customers by making best possible usage of its technology infrastructure. In order to increase the efficiency of the Bank’s operations and improve the level of customer service, a policy has been framed to compensate adequately any customer who faces deficiency in Banking Services.

The primary objective of this policy is to establish a system whereby the Bank compensates the customer for any financial loss he/she might incur due to proven deficiency in service on the part of the Bank or any act of omission or commission directly attributable to the Bank.

This policy will be applicable to all banking customers of the Bank. It is based on the principles of transparency and fairness in the treatment of customers and their genuine grievances. It is therefore imperative and for all branches/regional offices/corporate office to ensure that prompt and efficient service is rendered to all customers at all times.

It must however, be understood and is reiterated that this policy covers only compensation for financial losses which customers might incur due to deficiency in services offered by the Bank which can be measured directly and as such the commitments under this policy are without prejudice to any right the Bank will have in defending its position before any forum duly constituted to adjudicate banker-customer disputes and does not constitute admission of liability or any other issue of any nature whatsoever for the purposes of Adjudicatory proceedings.

Coverage of the policy :-

This policy document is designed to cover areas relating to unauthorized /erroneous debiting of accounts, payment of cheques after acknowledgement of stop payment of instructions, compensation for settlement of disputed ATM transactions, delay in ECS direct debits/other debits to accounts, lending, etc.

• Unauthorized / Erroneous debits :

If the Bank has raised an unauthorized/ erroneous debit to an account, the entry shall be reversed immediately on being detected/informed, after due verification. If such a debit has resulted in a financial loss to the customer by way of reduction in the balance applicable for payment of interest on savings bank deposit or payment of additional interest to the Bank in a loan account or levying of penalty for not maintaining the stipulated minimum balance in the account, Bank shall compensate the customer to that extent.

Further, if the customer has suffered any loss incidental to return of a cheque or not carrying out of direct debit instructions due to insufficiency of balance on account of the unauthorized / erroneous debit, Bank will compensate the customer to the extent of such financial loss, besides refunding the cheque return charges. However customer will not be entitled to claim any compensation for loss of reputation or loss of profit.

In case verification of the entry reported to be erroneous by the customer does not involve a third party, the bank will endeavor to complete the process of verification within a maximum period of 7 working days from the date of reporting of erroneous debit. In case, the verification involves a third party or where verifications are to be done at overseas centers, the bank shall complete the verification process within a maximum period of one month from the date of reporting of erroneous transaction by the customer.

• ECS direct debits/other debits to accounts

The bank will undertake to carry out direct debit/ ECS debit instructions of customers in time. If bank fails to meet such commitments customer will be compensated to the extent of any financial loss the customer would incur on account of delay in carrying out the instruction/failure to carry out the instructions. Such compensation may be equivalent to the interest calculated on the amount to be debited, for the delayed period, at applicable Savings Bank rate, with minimum of Rs. 100/-, subject to a maximum of Rs.1,000/-.

The Bank would debit the customer’s account with any applicable service charge as per the schedule of charges notified by the bank. In the event the Bank levies any charge in violation of the arrangement or inadvertently, Bank will reverse the charges, subject to scrutiny of agreed terms and conditions, and compensate the customer by a sum equal to the charges reversed.

• Unauthorised Electronic Transactions reported by Customers

As per the circular no. DCBR.BPD.(PCB/RCB).Cir.No.06/12.05.001/2017-18 dated December 14, 2017 issued by the Reserve Bank of India, all Banks are required to formulate a Board Approved Customer Protection Policy for unauthorised electronic Banking transactions reported by customers.

The policy covers the liability of customers in different scenarios depending on whether compromise was at the Bank’s end, customer’s end or elsewhere in the system.

For all such transactions, the Bank is governed by the Board Approved Customer Protection Policy.

• Payment of Cheques after Stop Payment Instructions:

In case a cheque has been paid after stop payment instruction is acknowledged by the bank, the bank shall reverse the transaction within 2 working days of the customer intimating the Bank, and give value-dated credit to protect the interest of the customer. Such debits will be reversed within 2 working days of the customer intimating the transaction to the bank.

Any consequential financial loss to the customer will be compensated as provided above. However no compensation will be paid if the cheque has been paid prior to acknowledgement of stop payment instructions.

• Interest for delayed Collection of outstation cheques :

As part of the compensation policy of the bank, the bank will pay interest to its customer on the amount of collection instruments in case there is delay in giving credit beyond the time period specified in banks cheque collection policy. Such interest shall be paid without any demand from customers in all types of accounts. There shall be no distinction between instruments drawn on the bank’s own branches or on other banks for the purpose of payment of interest on delayed collection.

Interest for delayed collection shall be paid at the following rates: (as per cheque collection policy of the Bank)

a. Savings Bank rate for the period of delay beyond 7/10/14 days respectively as applicable, in collection of outstation cheques.

b. Where the delay is beyond 14 days and upto 90 days interest will be paid at the rate applicable for term deposit for the respective period. In case of delay beyond 90 days, interest will be paid at the rate of 2% p.a. above the corresponding Term Deposit rate.

c. In the event the proceeds of cheque under collection were to be credited to an overdraft/loan account of the customer, interest will be paid at the rate applicable to the loan account.

• Compensation for loss of instrument in Transit

The bank’s compensation policy for financial loss suffered by the customers due to loss of instrument after it has been handed over to the bank for collection by the customer is indicated in our cheque collection policy.

The same is extracted below for information:

Cheques/Instruments lost in transit / in clearing process or at paying bank’s branch

a. In the event of a cheque or an instrument accepted for collection is lost in transit or in the clearing process or at the paying banks branch, the Bank shall immediately on knowledge about the loss, bring the same to the notice of the account holder so that the account holder can inform the drawer to record stop payment and also take care that cheques, if any, issued by him/her are not dishonored due to non- credit of the amount of the lost cheques/instruments.

b. In case an international cheque is lost, the Bank shall also advise the correspondent/ drawee bank all particulars of lost cheques/instruments for exercising caution.

c. If the Bank loses the cheque, the Bank will bear the stop payment charges on customer producing relevant documents. The Bank may use its discretionary powers to reimburse reasonable expenses incurred by the customer in connection with the lost cheque.

d. In case intimation regarding loss of instrument is conveyed to the customer beyond the time limit stipulated for collection (7/10/14 days, as the case may be) interest will be paid for the period exceeding the stipulated collection period at the rates specified above.

e. In addition, bank will pay interest on the amount of the cheque for a further period of 15 days at Savings Bank rate to provide for likely further delay in obtaining duplicate cheque/instrument and collection thereof.

f. The bank would also compensate the customer for any reasonable charges he/she incurs in getting duplicate cheque/instrument upon production of receipt, in the event the instrument is to be obtained from a bank/ institution who would charge a fee for issue of duplicate instrument.

• Issue of Duplicate Draft and Compensation for delays :

Duplicate draft will be issued within a fortnight from the receipt of such request from the purchaser thereof along with submission of documents as prescribed by the banks. For delay beyond the above stipulated period, interest at the rate applicable for Fixed Deposit of Corresponding period will be paid as compensation to the customer for such delay.

• ATM Failure

It is mandatory for bank to reimburse the customer, the amount wrongfully debited on account of failed ATM transaction ( own ATM and other Bank ATM ) within a maximum period of 7 working days from the receipt of the complaint. For any failure to re-credit the customer’s account within 7 working days from the date of receipt of the complaint, bank shall pay compensation of Rs.100/- per day to the aggrieved customer. This compensation shall be credited to the customer’s account automatically without any claim from the customer, on the same day when bank affords the credit for the failed ATM transactions.

• Foreign Exchange Services

The Bank would not compensate the customer for delays in collection of cheques designated in foreign currencies sent to foreign countries as the Bank would not be able to ensure timely credit from overseas banks. It is the Bank’s experience that time for collection of instruments drawn on banks in foreign countries differ from country to country and even within a country, from place to place.

The time norms for return of instruments cleared provisionally also vary from country to country. However, the Bank will compensate the customer for undue delays in affording credit once proceeds are credited to the Nostro Account of the Bank with its correspondent. Such compensation will be given for delays beyond one week from the date of credit to Nostro Account/ due date after taking into account normal cooling period stipulated.

The compensation in such cases will be worked out as follows:

a. Interest for the delay in crediting proceeds as indicated in the cheque collection policy of the bank.

b. Compensation for any possible loss on account of adverse movement in foreign exchange rate.

• Wealth Management Products

Bank is a corporate Agent and distributor of Insurance and Mutual Fund products respectively. For any deficiencies in services bank will assist customers to raise their grievances with the tie-up partners.

In the event of Bank receiving any complaint from the customer regarding mis- selling of the Wealth Management Products (all third party products) by the Bank, or about having engaged in any improper conduct or about having acted in violation of any Code adopted by the Bank, the Bank shall take appropriate steps to investigate and handle the complaint.

In case lapses by the Bank employees are established, the Bank shall compensate the customer to the extent of the direct financial loss suffered by him/her on account of the transaction, post ascertaining all the facts and documents available. However, the Bank shall not in any event compensate for any notional losses on account of the transaction.

• Lenders liability - Commitments to borrowers :

The bank has adopted the principles of lenders liability. In terms of the guidelines for lenders liability, and the Code of Bank’s Commitment to customers adopted by the bank, the bank would return to the borrowers on obtaining a request letter all the securities/documents/title deeds to mortgaged property within 30 days of repayment of all dues agreed to or contract, subject to any other right/lien/claim by the Bank till the relevant claim is settled /paid. If any right to set off is to be exercised for any other claim, Bank would retain the securities/documents/title to mortgage property till the relevant claim is settled/paid. The bank will compensate the borrower for monitory loss suffered, if any due to delay in return of the same.

In the event of loss of title deeds to mortgaged property at the hands of the Banks, the compensation will cover actual expenses incurred for any documentation for obtaining duplicate title deeds/documents plus a lump sum amount.

The lump sum compensation would be paid as follows :

“The Bank would pay the compensation for delay in return of securities/documents/title deeds to the mortgaged property beyond 30 days of repayment of all dues agreed to or contracted, subject to above conditions, @ Rs.100/- per day subject to maximum Rs.5000/- to the borrower.”

Payment of compensation would be approved by the Chief Executive Officer.

The above would be applicable only to performing assets and not under any OTS agreed to by the Bank. Neither is it applicable to return of securities/documents/title deeds to mortgaged property of borrower accounts that are non-performing assets (NPAs) in the Bank’s Books of Accounts.

• Customers’ responsibility:

Bank will not be responsible for the loss to the customers due to customer’s carelessness in keeping the Cheque book, passbook, cards, PIN or other security information and not following Do’s and Dont’s issued by Bank, until the Bank has been notified by the customer.

Bank will not be responsible for the loss to the customer, if the customer acts fraudulently and/or acts without reasonable care which has resulted into loss to him/her. Bank will also not be responsible for the losses arising out of misuse, of lost PIN, compromise of passwords/secure or confidential information, suffered by the customer until the time the Bank has been notified and has taken steps to prevent misuse.

• Disclaimer clause

Notwithstanding anything contained here above, the Bank shall not pay any compensation due to 

o Delays on account of non-functioning of business due to factors beyond the control of the bank. The period covered by such events shall be omitted for calculation of delay etc.

o Where the issues are sub-judice and pending before Courts, Ombudsman, arbitrator, Government and matter put on hold due to stay.

• Amendment/Modification of the Policy

The Bank reserves the right to amend/modify this Policy, as and when deemed fit and proper, at its sole discretion.

• Force Majeure:

The bank shall not be liable to compensate customers for delayed credit if some unforeseen event (including but not limited to civil commotion, sabotage, lockout/strike/other labour disturbances, due notice whereof is given in advance to the customers through media, accident, fires, natural disasters or other “Acts of God”, war, damage to bank’s facilities or of its correspondent bank(s), absence of all types of usual modes of transportation, etc.) beyond the control of the bank prevents it from performing its obligation within the specified service delivery parameters.



CUSTOMER PROTECTION POLICY

With the increased thrust on financial inclusion through Electronic Banking transactions and customer protection, it is important to inform and educate the customers about their rights and responsibilities, unauthorised transaction and process of notifying the Bank.
The objective of the Policy is to establish a system where the customer can notify the Bank timely and seamlessly about any unauthorised transactions and reporting of any financial loss the customer might have incurred due to electronic banking transaction .
This policy document covers the following aspects:
1. Definition of electronic Banking transactions
2. Risks and responsibilities of the customer
3. Reporting of unauthorised transactions by customer to the Bank
4. Liability of the Customer
5. Timeline to the Bank for settling of such transaction
6. Escalation matrix
7. Reporting and Monitoring Requirements


1. Definition of Electronic Banking transactions
In a broad sense, electronic banking transactions can be divided into two categories:
• Remote/ online payment transactions (transactions that do not require physical payment instruments to be presented at the point of transactions e.g. internet banking, mobile banking, card not present (CNP) transactions), Pre-paid Payment Instruments (PPI), and
• Face-to-face/ proximity payment transactions (transactions which require the physical payment instrument such as a card or mobile phone to be present at the point of transaction e.g. ATM, POS, etc.)
 

2. Risk and Responsibilities of the Customer :
Before doing his/her first electronic fund transaction and consequent ones, a customer should ensure the following :
a. To register his/her own valid mobile number and email ID with the Bank and avail SMS & email alert service of the Bank .
b. To take utmost care that the ATM /Debit card is in his/her possession, and if lost, intimate the Bank immediately through the various means provided by the Bank. Also,
c. police intimation in this regard is to be made informing the concerned police station about the loss/misplacement of the ATM/Debit card and a copy of the acknowledged intimation to be provided to the Bank.
d. To set a PIN for ATM/Debit card which is different from address, telephone number, Social Security number, or Birth Date. This will make it more difficult for a fraudster to use his/her card.
e. To be alert at all times and not share ATM/Debit card PIN or card with any one.
f. To keep and compare his/her receipts notification from Bank for all types of Electronic Financial Transaction (EFT) transactions with his/her statements so that he/she can find errors or unauthorized transfers and report them.


3. Reporting of unauthorised transactions by customer to the Bank
Customer should verify the notifications received from the   Bank through SMS
/email, and if he/she comes across any transaction not initiated by him/her, such unauthorised EFT should be reported to the Bank for blocking the card. In case of theft/ misplacement of ATM /Debit card too, he/she should inform the Bank for blocking the card.
A. In order to mitigate any loss a customer should block his/her ATM/Debit card, through any one of the following channels


(i) By sending an SMS : On identifying unauthorised EFT and to stop the ATM/Debit card a customer shall :
a. Use his/her registered mobile number to send the SMS to the Bank
b. Send it to pre-determined number given by the Bank for the purpose.
 
c. Bank, after verifying customer’s registered mobile number will send a response to his/her registered mobile number.
d. Verify the response and confirm that the card has been successfully stopped
(ii) calling his/her base branch :
If the unauthorised transaction happens on a working day and during business hours, customer may also contact his/her base branch and notify the Bank about such unauthorised transaction and request to “STOP/Block “ the ATM/Debit card .
(iii) By calling the customer care number :
Customer can call the Bank’s predetermined Customer Care number, and request to stop/block the concerned ATM/debit card. This customer care number would be accessible 24x7 only for blocking of ATM/debit card.

B. Process for reporting unauthorised EFT and claiming reversal
After taking necessary steps for blocking the ATM/debit card, customer should adopt the following process to inform the Bank about the unauthorised transaction.
a. Customer shall collect the ATM/debit card dispute charge back form, from any of the branches of the Bank or download the same from Bank’s website
b. Customer shall correctly fill the necessary information in the form and submit the same to his/her base Branch.
c. Customer shall fill a fresh ATM/debit card application form and select the option – “Lost” for new ATM / debit card and submit the same to the base Branch.


4. Limited Liability of a Customer
A. Zero Liability of a Customer :
A customer’s entitlement to zero liability shall arise where the unauthorised transaction occurs in the following events:
a. Contributory fraud/ negligence/ deficiency on the part of the bank (irrespective of whether or not the transaction is reported by the customer).
b. Third party breach where the deficiency lies neither with the Bank nor with the customer but lies elsewhere in the system, and the customer notifies the bank within three working days of receiving the communication from the bank regarding the unauthorized transaction.


B. Limited Liability of a Customer :
A customer shall be liable for the loss occurring due to unauthorised transactions in the following cases:
a. In cases where the loss is due to negligence by a customer, such as where he has shared the payment credentials, the customer will bear the entire loss until he reports the unauthorised transaction to the bank. Any loss occurring after the reporting of the unauthorised transaction shall be borne by the bank.
b. In cases where the responsibility for the unauthorised electronic banking transaction lies neither with the bank nor with the customer, but lies elsewhere in the system and when there is a delay (of four to seven working days after receiving the communication from the bank) on the part of the customer in notifying the bank of such a transaction, the per transaction liability of the customer shall be limited to the transaction value or the amount mentioned in Table 1, whichever is lower.
Table (1)
Maximum Liability of a Customer under point 4 (A) & (B)

Type of Account

Maximum

 

5,000

•  All other SB accounts

·   Pre-paid Payment Instruments and Gift Cards (as & when introduced)

•  Current/ Cash Credit/ Overdraft Accounts of MSMEs

•  Current Accounts/ Overdraft Accounts of Individuals with

 

 

 

10,000

All other Current / Overdraft Accounts

25,000

Irrespective of above set limits, if the customer fails to report unauthorised transaction within 7 working days from the date of receipt of communication from the Bank

Entire loss to be borne by customer

 
Overall liability of the customer in third party breaches, as detailed in paragraph 4 A (ii) and paragraph 4 B (ii) above, where the deficiency lies neither with the bank nor with the customer but lies elsewhere in the system, is summarised in the Table 2:

Table (2)
Summary of Customer’s Liability

Time taken to report the fraudulent  transaction  from the date of

receiving the communication

Customer’s Liability (Rs)

Within 3 working days

Zero liability

Within 4 to 7 working days

The transaction value or the

Beyond 7 working days

Entire loss to be borne by customer.



The number of working days mentioned in Table 1 shall be counted as per the working schedule of the base branch of the customer excluding the date of receiving the communication.


5. Timeline to the Bank for settling of such transaction
On being notified by the customer, the Bank shall
a. Credit (shadow reversal) the amount involved in the unauthorised electronic transaction to the customer’s account within 10 working days from the date of such   notification   by   the   customer   without   waiting   for   the process of establishing the liability to be completed .
b. In not more than 90 working days, bank shall establish the liability of the customer if any and notify the customer accordingly
c. Bank shall clearly notify the customer about the status of the complaint and settlement of the charge.
d. Only on receipt of this notification from the Bank, the shadow reversal of the amount will be available for the customer.
e. The credit shall be value dated to be as of the date of the unauthorised transaction. This will ensure that customer does not lose any interest on the amount. The onus of proving customer liability in case of unauthorised electronic banking transactions shall lie on the Bank.


6. Escalation matrix
Bank as mentioned in point 5, has to revert and resolve the complaint/dispute within the stipulated time. In case of non-receipt of any update/confirmation the customer may escalate the matter as below


Table (3) Escalation Matrix

Day

Description

Reporting

1

Reporting    of                   unauthorised                   transaction as mentioned in point 3(B) above

Base branch

10

On non receipt of the shadow reversal or final settlement of the disputed amount

Base branch

12

No response from the Base branch

Chargeback Team.

20

No response from Chargeback Team

Head of Operations



7. Reporting and Monitoring Requirements :
Unauthorized electronic banking transactions reported by customers or otherwise, as also the action taken thereon along with Customer liability cases shall be informed to the Finance Committee/Board on a quarterly basis. i.e. July for Q1, October for Q2, January for Q3 and April for Q4 of every year. The reporting shall, inter alia, include volume/ number of cases and the aggregate value involved and distribution across various categories of cases viz., card present transactions, card not present transactions, internet banking, mobile banking, ATM transactions, etc.
The Committee/Board shall take appropriate measures to improve the systems and procedures.
All such transactions shall also be reviewed by the Bank’s internal auditors.



HYPERLINK POLICY

Links to external websites/portals

Any hyper link to other Internet sites is at customer’s own risk, the contents of which and the accuracy of opinions expressed are not verified, monitored or endorsed the Bank in any way or manner.
If this website would contain third party links, the hyperlinks lead to websites published or operated by third parties who are not affiliated with or in any way related to the Bank. The Bank would be providing these links and pointers solely for the customer’s/user’s information and convenience and are presented for information purposes only. The Bank endeavor to select reputable websites and sources of information for the customer’s/user’s convenience. After clicking on these links the customer/user would be leaving the Bank’s website. The Bank does not endorse nor has any control over third party website content. The Bank is not responsible for the content or availability of third party website(s).
Third party websites may have different privacy and security policies than the Bank, and moreover cannot authorize the use of copyrighted material contained on the website in linked website(s). Customers/users are advised to request for such authorization from the owners of the linked website(s).
However, by providing hyperlinks to an external website or webpage, the Bank shall not be deemed to endorse, recommend, approve, guarantee or introduce any third parties or the services/ products they provide on their websites, or to have any form of cooperation with such third parties and websites unless otherwise stated by the Bank.
The Bank is not in any way responsible for the content of any externally linked website or webpage. The customer/user use or follow these links at their own risk and the Bank is not responsible for any damages or losses incurred or suffered by the customer/user arising out of or in connection with the customer’s/user’s use of the link. the Bank is not a party to any contractual arrangements entered into between the customer/user and the provider of the external website unless otherwise expressly specified or agreed to by the Bank.
 
Any links to websites that contain downloadable software are provided for the convenience of the customer/user only. The Bank is not responsible for any difficulties the customer/user may encounter in downloading the software or for any consequences from the customer/user doing so.
It should be borne in mind that the use of any software downloaded from the Internet may be governed by a licence agreement and the failure to observe the terms of such licence agreement may result in an infringement of intellectual property rights of the relevant software provider which the Bank is not in any way responsible.
Please be mindful that when the customer/user clicks on a link and leaves the Bank’s website, the customer/user will be subject to the terms of use and privacy policies of the other website that the customer/user is going to visit.


Links to the Bank’s Website by other websites/portals

Prior written permission from the Bank is required before hyperlinks are directed from any website/portal to the Bank’s website. Permission for the same, stating the nature of the content on the pages from where the link has to be given and the exact language of the hyperlink should be obtained by sending a request to the Bank.
The Bank may or may not give such approval, and is at its absolute discretion. In normal circumstances, the Bank may only approve a hyperlink which displays plainly the Bank’s name or website address. Any use or display of the Bank’s logos, trade names and trademarks as a hyperlink will not be approved unless in very exceptional circumstances and may be subject to a fee as the Bank may determine at its absolute discretion.
The Bank is not responsible for the setup of any hyperlink from a third party website to any the Bank website. Any links so set up shall not constitute any form of co-operation with, or endorsement by, the Bank of such third party website. Any link to the Bank’s website shall always be an active and direct link to the Bank’s website and shall be made directly to the home or front page of the Bank’s website only and that no "framing" or "deep-linking" of the Bank’s web page or content is allowed.


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