Terms
and Conditions for NRE, NRO, FCNR and RFC Accounts
Terms
and conditions for the issue and use of ICICI Bank ATM
cards.
Terms and conditions for Debit Cards
Terms
and Conditions governing internet banking service of
ICICI Bank
Terms
and Conditions the e-Instruction facility of ICICI Bank
Limited
Terms and Conditions for NRE, NRO,FCNR and RFC Accounts
These terms and conditions (“Terms”) apply to
and regulate the operation of the Accounts offered by ICICI
Bank to customers. These terms and conditions shall be in
addition to any other terms as stipulated by ICICI Bank
from time to time.
Definitions
In these terms and conditions, the following words
and phrases have the meaning stated hereunder unless
indicated otherwise:
1.1
“Account
Opening Form” (AOF) refers to the relationship
form for Account;
1.2
"Customer"
refers to any person holding an Account with ICICI
Bank.
1.3
“Quarter”
shall mean a financial quarter i.e. April –
June, July – September, October – December,
January – March in any financial year.
1.4
"Services"
shall mean the services provided by ICICI Bank in
connection with the Saving Account and more particularly
described in these Terms.
1.5
"Website"
refers to the website owned, established and maintained
by ICICI Bank at the www.icicibank.com.
All
references to singular include plural and vice versa
and the word "includes" should be construed
as "without limitation".
b
Words importing any gender include the other gender.
c
Reference
to any statute, ordinance or other law includes
all regulations and other instruments and all consolidations,
amendments, re-enactments or replacements for the
time being in force.
d
All headings,
bold typing and italics (if any) have been inserted
for convenience of reference only and do not define
limit or affect the meaning or interpretation of
these Terms.
e
Words “ICICI
Bank”, “the Bank”, refer to ICICI
Bank Limited having its registered office at Landmark,
Race Course Circle, Vadodara 390007.
2. Applicability of Terms
The Terms form the contract between the Customer and ICICI
Bank. The Customer shall apply to ICICI Bank in the prescribed
form for operation of the Account and availing of the related
Services. By applying for opening the Account, the Customer
acknowledges that he / she has /have read understood and
accepted these terms and conditions.
3. Account Opening
The account opening formalities are governed by the policies
of ICICI Bank and may be revised from time to time. It may
require customer/s to submit duly filled application form/s
along with the prescribed set of documents stipulated including
Permanent account No. (PAN) or Form 60/61 from time to time,
to the satisfaction of the Bank. The Account cannot be opened
for business purposes.
In case the Account is opened with an account opening cheque,
ICICI Bank reserves the right not to open/activate the Account
in the event the account opening cheque is dishonored.
In the event where documents submitted by the individuals or customers for availing our products and services or for processing the transactions are incomplete or discrepant, ICICI bank shall notify such discrepancies or additional requirements in reasonable time through emails sent to your registered email ID together with Service Request number quoted as a reference. In case highlighted discrepancies remain unresolved or non-receipt of required documents ICICI Bank in accordance with its Records Retention Policy shall retain the documents for the period of 6 months only from the date of initial receipt.
After the expiry of 6 months ICICI Bank shall be entitled to dispose-of the documents in the suitable manner without any notice . In no event ICICI Bank shall be liable to return the documents or provide any details to the individual or customers after the expiry of the said period. Thereafter, if the individual or customers want to avail of a new account / transaction, then fresh documents shall be submitted as required by the ICICI Bank for further processing.
An
Account may be opened in the names of:
i) An individual in his/her own name.
ii) Two or more persons in their joint names.
4.2
All the Accounts
maintained in the name of an individual shall be
operated singly by the individual or the Power of
Attorney holder of such individual and in the case
of joint accounts, by the account holders jointly,
or by either of the joint-holder/s or as may be
specified by the joint account holder/s in the opening
form, or by their Power of Attorney holders and
accepted by ICICI Bank in its discretion.
4.3
If an NRO account is being operated through a resident Power of Attorney/Mandate Holder, the operations of such resident Power of Attorney/Mandate Holder shall be restricted to:
a. All local payments in Rupees including payment for eligible investments, subject to compliance with relevant regulations of Reserve Bank of India; and
b. Remittance outside India of the non resident individual account holder's current income in India, net of applicable taxes. The Remittance will be made subject to Reserve Bank of India regulations and approvals
The resident Power of Attorney/Mandate Holder is not permitted to:
a. Repatriate outside India funds held in the account other than to the non resident individual account holder,
b. Make the payment by the way of gift to a resident on behalf of the non resident account holder or
c. Transfer funds from the NRO savings account to another savings/current account.
All NRI customers will be responsible for compliance with the above norms.
4.4
In case of
joint Accounts, any change in operational instructions
or any other information with regard to the Account
Opening Form is to be given by all the joint account
holders irrespective of the mode of operation.
4.5
ICICI Bank
may send through courier or post from time to time
to the mailing address furnished by the Customer,
statements of account, balance confirmation certificate,
cheque books, Debit cards, various PIN mailers and
such other items relevant or pertaining to the Account.
It is incumbent upon the Customer to intimate change
in mailing address, if any, immediately. ICICI Bank
shall not be responsible for any loss, damage or
consequences for wrong delivery of the above items
arising out of non-intimation of change in mailing
address.
4.6
The Customer
is / are expected to examine the entries in the
Account statement on receipt, and draw the attention
of ICICI Bank to any errors or omissions that might
be discovered. ICICI Bank does not accept any responsibility
for any loss arising out of failure on the part
of the Customer to carry out examination of entries
in the passbook/statement and to point out such
error and/or omission within fourteen (14) days
from the date of the statement/ updation of passbook.
4.7
The Customer
shall open the Account with a minimum balance as
prescribed by ICICI Bank. The Customer shall be
responsible for maintaining a minimum average balance
(“QAB”) during a Quarter. Failure to
maintain the prescribed QAB may attract service
charges and such charges may be deducted by ICICI
Bank from the Customer's Account.
4.8
The Customers
are expected to provide PAN No. or Form 60/61 or
any other document as may be prescribed by tax authorities
from time to time for opening the Account, acceptance
of cash deposits etc. in accordance with the provisions
of Rule 114B to 114D of the Income Tax Rules, 1962
and compliance thereof.
Cheque
books will be couriered directly to the mailing
address given by the Customer provided all formalities
are completed. Subsequent cheque books can be requisitioned
through the requisition leaf available in the cheque
book or through ATMs subject to satisfactory conduct
of the Account. Cheque books are normally issued
free of cost, however, ICICI Bank reserves the right
to recover the cost of the cheque book requisitioned.
Delivery costs like courier charges, would however
be recovered from the customers.
5.2
Alterations,
if any, on cheques are required to be authenticated
by the drawer's signature against each such alteration.
ICICI Bank reserves the right to refuse payment
of cheques that have been altered in any way unless
the alteration is authenticated by the drawer under
full signature as per specimen on record with ICICI
Bank. Cheques should be drawn in such a way as to
prevent alteration after issue and the drawer's
signature should be uniform with that on record.
5.3
ICICI Bank
will record and accept instructions from the drawer
for stopping payment requests against cheque/s that
are lost, stolen, or not required to be paid against,
only if such instructions are received from the
drawer by the Bank, prior to presentment of such
cheques at the Bank or in the case of e-cheques,
only if the stop payment requests are logged prior
to payment of moneys against the same, and ICICI
Bank shall not be responsible in any manner whatsoever
for any losses caused, or payments made, if the
cheques are presented for payment to ICICI Bank
prior to receipt of instructions, if any, from the
drawer of the cheque/s or in the case of e-cheques,
if the stop payment requests are logged after payment
against such cheques has been initiated by ICICI
Bank. ICICI Bank may charge Service charge for such
countermanding instructions.
5.4
ICICI Bank
may dishonour and/or return cheques unpaid which
are altered, if considered by the Bank to be ambiguous
or suspicious in any way, or if received for payment
more than six months after the date the cheque is
drawn.
5.5
Customer should
issue cheques in the account only after making prior
arrangement of funds in the account to avoid returns/dishonour.
If a cheque issued by a Customer is required to
be returned for insufficient balance in the Account
or for being in excess of arrangements, a penalty/charge
may be levied by ICICI Bank. If any cheque deposited
by the Customer is returned unpaid, service charge
may be recovered from the Customer. In case of large
number of returns/dishonours in the account, the
Bank reserves the right to take corrective action
for the specific accounts as deemed fit.
5.6
With effect from October 1, 2009, ICICI Bank will discontinue the service of lock-box collection of foreign-currency cheques using cheque-transfer slips provided with the NRE savings account. No request will be processed through these slips.
6. Safe Keep of Debit Card, Passwords
and Cheque Book
The Customer shall be solely responsible for the safe-keeping
and the confidentiality of the statements of account, balance
confirmation certificate, cheque books, Debit card and its
PIN, user id and passwords relating to internet banking
and such other items relevant or pertaining to the Account.
A
Customer may request for transfer of his/her Account
from one branch to another branch of ICICI Bank
by giving a written request along with, surrender
of the ATM/Debit card, unused cheque books. ICICI
Bank will close the Account and arrange to open
a new Account at the other branch and will issue
new cheque book, new ATM/debit card, etc.
7.2
Transactions
are entertained normally during banking hours at
the branch where the Account is maintained or at
any other ICICI Bank Branches under Any Where Banking
(AWB). ICICI Bank shall not be liable for any delay
on any account of failure of connectivity. AWB will
not be available on the day(s) when the branch where
the account holder has his/her Relationship, is
closed.
7.3
Standing
instructions are accepted free of charge for transferring
funds from Account to Fixed deposit or Recurring
deposit accounts. Other standing instructions are
subject to service charges.
7.4
ICICI Bank
in its sole discretion may restrict the number of
withdrawals in the Account.
inactive if there are no customer-induced
transactions for 15 months in the Account
Dormant if there are no customer-induced
transactions for 18 months in the account. i.e
no customer-induced transactions for 3 months
after the account had become inactive
Customer induced transactions shall mean any
credit or debit transactions done by a Customer
in his Account through the following modes:
Transactions through cheque.
Cash or cheque deposit.
Withdrawal or deposit through ATM.
Transaction through internet
Transaction by standing instruction,
ECS and EFT.
8.2
ICICI Bank
may in its sole discretion deny Services and/ or
transaction in the Account of a Customer which has
been classified as inactive or dormant .
Cheques,
drafts, bills, dividend / interest warrants and
other instruments issued in favor of the Customer
are accepted for collection on Customer's behalf.
The collection of outstation instruments entails
collection charges. ICICI Bank does not accept any
responsibility for loss, delay, mutilation or interception
of the instruments in postal or courier transit.
ICICI Bank does not accept or share any responsibility
for delay in realisation of such instruments or
for the genuineness, validity or correctness of
the signatures or endorsements thereon. The drawals
against such instruments are permissible only on
realisation or proceeds by ICICI Bank. Any provisional
credit allowed at the discretion of ICICI Bank for
an instrument under collection is recoverable with
interest if the Instrument is returned unpaid. ICICI
Bank has right to disallow any drawings against
such provisional credit (shadow balance).
9.2
ICICI Bank
has the authority to debit the accounts to recover
any amount credited erroneously.
9.3
Local cheques,
etc., may be tendered for collection sufficiently
early in the day as required vis-a-vis the local
clearing house timings. Drawals against clearing
cheques will be normally permitted only against
cleared balances as per clearing house rules.
9.4
In cases where
a cheque is returned, the amount in respect of which
had already been credited to the Customer's Account
and/or in respect of which withdrawal was permitted,
ICICI Bank will reverse the credit of such amount
and debit the amount equal to the amount of the
returned cheque. In such cases, if the Account does
not have sufficient funds, the outstanding amount
shall be deemed to be a temporary overdraft granted
to the Customer and the Customer is bound to repay
the amount immediately on demand by the Bank. In
debiting the amount as aforesaid, ICICI Bank would
debit the amount credited or the Rupee amount equivalent
to the relevant foreign currency denominated cheque
whichever is higher. The service charges, penalties
and other charges as applicable will also be levied
by ICICI Bank in such instances.
10. Charges/Fees
Charges in connection with the operation of the Account
and the Services would be levied at the rates as prescribed
on the Website from time to time. Charges will be debited
to the Account at such intervals as may be deemed fit by
ICICI Bank.
ICICI Bank will also have the right to set-off the service
charges, charges for non-maintenance of QAB or any wrong
credit or late returns reported by the correspondent bank
/counter party by debiting the Account, without requirement
of providing further notice or seeking additional consent
/ authorisation. In case balance in the Account becomes
overdrawn as a result of such set-off, ICICI Bank will be
entitled to charge interest at such rates as ICICI Bank
may deem fit in its sole discretion, for the period for
which the Account remains overdrawn at any time during the
maintenance of the Account. In case of any shortfall in
the Account or in the event of closure of the Account, the
Customer shall be liable to pay the amount outstanding on
account of charges / interest or otherwise to ICICI Bank,
forthwith, without demur or protest.
The Customer agrees and confirms that in the event any of
the Services in connection with the Account are or become
liable to tax under the applicable laws and regulations,
the Customer shall bear all the taxes or duties (by whatever
name called) in connection with such Services and ICICI
Bank is hereby authorised to deduct any such amount from
the Account, without requirement of providing further notice
or seeking additional consent/authorisation.
In the event of occurrence of any of the
above events, the Customer shall receive balance amounts,
net of all deductions made as per the terms and conditions
hereof. The Customer shall be intimated at the last address
provided by the Customer and required to collect all such
amounts, from ICICI Bank; in case the Customer does not
collect the amounts within the time period stipulated by
the Bank in the communication sent to him / her as above,
then ICICI Bank shall send the amounts at the last known
address of the Customer and will not be liable for any reason
whatsoever in case of non-receipt of such amount/s by the
Customer or any losses or damages incurred by the Customer
as a consequence thereof.
11. Holiday / Processing
Any transactions on any Sunday or any public holiday, may
be shown in the Account, at the sole discretion of ICICI
Bank, as having taken place on the same or subsequent business
day of ICICI Bank. All deductions/accretions on such amount
shall be deducted/accrued as of such day. ICICI Bank shall
not be responsible for any loss of interest or liability
incurred/suffered by the Customer including but not limited
to return of cheques, loss of interest arising due to such
transaction being not shown on the day the same actually
occurred. The Cheques, / drafts, / pay orders / or like
deposited on any day which is a Sunday or public holiday
or after the time of clearing for the day is normally effected
by ICICI Bank shall be sent for clearing on the next business
day of ICICI Bank.
12. Statement of Account
The Statement of Accounts for each Account shall be issued
& charged on a frequency as determined by the ICICI
Bank for each Account. Unless disputed by the Customer within
fourteen (14) days of mailing of the statement, the same
shall be deemed to be accepted by the Customer. ICICI Bank
reserves the right to rectify discrepancies in the statement
of Account, if any, at any point of time. If Customer delays
in examining the statement or in reporting a problem or
error, it may affect ICICI Bank's ability to resolve the
problem, and Customer shall be liable for the losses that
may occur.
All the statements will be mailed to Customer's
communication address as per ICICI Bank's records. ICICI
Bank shall not be responsible for statements lost in mail/post.
The Customer should contact ICICI Bank promptly if the Statement
is not received and ask for duplicate statements, if required.
With the approval or at the request of the Customer, statement
of Account may be sent to the Customer's e-mail address.
Customers are required to verify the authenticity of the
emails received by them and ICICI Bank shall not be liable
in the event any statements are received by the Customer's
from fraudulent persons / imposters. ICICI Bank shall not
be liable in the event of any defects or failure in the
computer system / network of the Customer on account of
receipt of email/s by the Customer from ICICI Bank.
Duplicate statements are issued at the request of the Customer
for a fee. Ordinarily, duplicate statements are issued only
for a period not exceeding 36 months prior to date of request.
13. Payment of Interest
Interest is paid on the minimum credit balance maintained
between the 10th day and last day of each calendar month
in the Account at the rate in force in accordance with RBI
directives after deduction of tax at applicable rates. Interest
so calculated is rounded off to the nearest rupee, ignoring
fractions of a rupee. Interest is paid every half year in
September and March.
14. Death or Incompetence
The Customer agrees to notify ICICI Bank promptly if any
of the joint account holders or authorized signatory of
the Account dies or is declared incompetent by a court.
ICICI Bank may place a freeze on the Account and stop all
operations when any of the joint accountholders or authorized
signatories dies or is declared incompetent. ICICI Bank
may retain the freeze on the Account until it establishes
the identity and credentials of the successor/beneficiary
to its satisfaction.
15. Nomination
Nomination facility is available for the Account in the
names of individuals. Only one nominee is permissible for
an Account and the nomination is to be made by the Customer
duly witnessed by a third person. The Customer should ensure
that he/ she gets/ is given the acknowledgement as per the
nomination rules framed by Reserve Bank of India. The Customer
is at liberty to change the nominee, through declaration
in the appropriate form to revise the nomination during
the currency of the Account with ICICI Bank.
16. Sharing of Information
The Customer undertakes and authorises ICICI Bank, its Group
Companies to exchange, share or part with all the information,
data or documents relating to his/her application to other
ICICI Group Companies / Banks / Financial Institutions /
Credit Bureaus / Agencies / Statutory Bodies /Tax authorities
/Central Information Bureaus/ such other persons as ICICI
Bank / its Group Companies may deem necessary or appropriate
as may be required for use or processing of the said information
/ data by such person/s or furnishing of the processed information
/ data / products thereof to other Banks / Financial Institutions
/ credit providers / users registered with such persons
and shall not hold ICICI Bank / its Group Companies liable
for use of this information.
17. Change of Terms
ICICI Bank shall have the absolute discretion to amend or
supplement any of the Terms at any time. ICICI Bank may
communicate the amended Terms by hosting the same on the
Website or in any other manner as decided by ICICI Bank.
The Customer shall be responsible for regularly reviewing
these Terms including amendments thereto as may be posted
on the Website.
18. Non-Transferability
The Account and the Services provided to the Customer are
not transferable under any circumstance and shall be used
only by the Customer. However, ICICI Bank shall have the
right to transfer, assign or sell all its rights, benefits
or obligations to any person and these Terms shall continue
to be in force and effect for the benefit of the successors
and assigns of ICICI Bank.
19. Notices
Notices in respect of the Account, the services and facilities
in connection with the Account may be given by ICICI Bank
either through email or posting a letter to the Customer's
address. ICICI Bank may also give any notice by posting
the notice on the Website and the same will be deemed to
have been received by the Customer upon its publication
on the Website.
All notices in connection with the Services or the Account
by the Customer to ICICI Bank shall be in writing and sent
to the address as provided below and all notices shall be
deemed to be received by ICICI Bank only upon acknowledgment
of receipt of the same in writing by ICICI Bank.
ICICI Bank Limited
ICICI Bank Phone Banking Centre
P. O. Box No. 20
Banjara Hills P. O.
Hyderabad 500 034,
India
20. Electronic Transactions
The Customer agrees to adhere to and comply with all such
terms and conditions as ICICI Bank may prescribe from time
to time, and hereby agrees and confirms that all transactions
effected by or through facilities for conducting remote
transactions including the Internet, World Wide Web, electronic
data interchange, call centers, teleservice operations (whether
voice, video, data or combination thereof) or by means of
electronic, computer, automated machines network or through
other means of telecommunication, established by or on behalf
of ICICI Bank, for and in respect of the Account, or ICICI
Bank's other products and services, shall constitute legally
binding and valid transactions when done in adherence to
and in compliance with ICICI Bank's terms and conditions
for such facilities, as may be prescribed from time to time.
21. Electronic Instructions
The Customer agrees that ICICI Bank shall not be liable
for executing any instructions ICICI Bank receives through
Telephone, Facsimile or other form of electronic communication.
The Customer further agrees to keep ICICI Bank indemnified
from and against all claims either by the customer or any
other, actions, demands, liabilities, costs, charges, damages,
losses, expenses and consequences of whatever nature (including
legal fees on a full indemnity basis) and howsoever arising,
which may be brought or preferred against ICICI Bank or
that ICICI Bank may suffer, incur or sustain by reason of
or on account of ICICI Bank having so acted whether wrongly
or mistakenly or not, or of ICICI Bank failing to act wholly
or in part in accordance with the instructions.
22. Waiver
The Customer agrees to adhere to and comply with all such
terms and conditions as ICICI Bank may prescribe from time
to time, and hereby agrees and confirms that all transactions
effected by or through facilities for conducting remote
transactions including the Internet, World Wide Web, electronic
data interchange, call centers, teleservice operations (whether
voice, video, data or combination thereof) or by means of
electronic, computer, automated machines network or through
other means of telecommunication, established by or on behalf
of ICICI Bank, for and in respect of the Account, or ICICI
Bank's other products and services, shall constitute legally
binding and valid transactions when done in adherence to
and in compliance with ICICI Bank's terms and conditions
for such facilities, as may be prescribed from time to time.
The Customer hereby agrees that the Customer shall,
at his/its own expense, indemnify, defend and hold harmless
ICICI Bank from and against any and all liability any
other loss that may occur, arising from or relating
to the operation or use of the Account or the Services
or breach, non-performance or inadequate performance
by the Customer of any of these Terms or the acts, errors,
representations, misrepresentations, misconduct or negligence
of the Customer in performance of its obligations.
Under no circumstances shall ICICI Bank be liable
to the Customer for any indirect, incidental, consequential,
special or exemplary damages in connection with the
Account or the Services.
ICICI Bank shall not be liable for any failure to
perform any obligation contained in these Terms or for
any loss or damage whatsoever suffered or incurred by
the Customer howsoever caused and whether such loss
or damage is attributable (directly or indirectly) to
any dispute or any other matter or circumstances whatsoever.
The Customer shall indemnify ICICI Bank as collecting
banker for any loss or damage which ICICI Bank may incur
or suffer by guaranteeing any endorsement or discharge
on a cheque, bill or other instrument presented for
collection and such guarantee as given by ICICI Bank
shall be deemed to have been given in every case at
the Customer's express request.
The Customer shall keep ICICI Bank indemnified at
all times against, and save ICICI Bank harmless from
all actions, proceedings, claims, losses, damages, costs,
interest (both before and after judgement) and expenses
(including legal costs on a solicitor and client basis)
which may be brought against or suffered or incurred
by ICICI Bank in resolving any dispute relating to the
Customer's Account with ICICI Bank or in enforcing ICICI
Bank's rights under or in connection with these Terms
and conditions contained herein, or which may have arisen
either directly or indirectly out of or in connection
with ICICI Bank performing its obligations hereunder
or accepting instructions, including but not limited
to, fax and other telecommunications or electronic instructions,
and acting or failing to act thereon.
If any sum due and payable by the Customer is not
paid on the due date, including without limitation any
moneys claimed under this Paragraph, the Customer shall
be liable to pay interest (both after as well as before
any judgement) on such unpaid sum at such rate or rates
as ICICI Bank may from time to time stipulate from the
date payment is due up to the date of payment.
The Customer shall solely be responsible for ensuring full compliance with all the applicable laws and regulations in any relevant jurisdiction in connection with establishment of his/her Account with ICICI Bank and shall keep ICICI Bank informed about any change in his residential status. The customer shall indemnify and keep indemnified ICICI Bank from all actions, proceedings claims, losses, damages, costs and expenses (including legal costs on a solicitor and client basis) which may be brought against or suffered or incurred by ICICI Bank in connection with any failure to comply with any such applicable laws/regulations.
The indemnities as aforesaid shall continue notwithstanding the termination of the Account.
24. No Encumbrances
The Customer shall not create or permit to subsist, any
encumbrance or third party interest over or against any
account(s) with ICICI Bank or any monies lying therein without
ICICI Bank's express prior written consent.
ICICI Bank shall have the paramount right of set-off
and lien, irrespective of any other lien or charge,
present as well as future, on all the deposits held/
balances lying in any Account of the Customer, whether
in single name or joint name(s), to the extent of all
amounts payable by the Customer arising as a result
of any of ICICI Bank's services extended to and/or used
by the Customer or as a result of any other facilities
that may be granted by ICICI Bank to the Customer. ICICI
Bank is entitled without any notice to the Customer
to settle any indebtedness whatsoever owed by the Customer
to ICICI Bank, whether actual or contingent, or whether
primary or collateral, or whether joint and/or several,
including without limitation indebtedness under any
indemnity given by the Customer to ICICI Bank hereunder
or under any other document/ agreement, by adjusting,
setting-off any deposit(s) and transferring monies lying
to the balance of any Account(s) held by the Customer
with ICICI Bank, notwithstanding that the deposit(s)/
balances lying in such Account(s) may not be expressed
in the same currency as such indebtedness. ICICI Bank's
rights hereunder shall not be affected by the Customer's
bankruptcy, insolvency, death or winding-up.
In addition to ICICI Bank's rights of set-off, lien
or any other right which it may at any time be entitled
whether by operation of law, contract or otherwise,
the Customer authorises ICICI Bank: (a) to combine or
consolidate at any time all or any of the accounts and
liabilities of the Customer with or to any branch or
office of ICICI Bank Limited (whether in India or elsewhere);
and (b) to apply, set-off or transfer at any time (without
prior notice to the Customer) any credit balance (whether
or not then due) to which the Customer is at any time
beneficially entitled (whether singly or jointly) on
any account, in the Customer's name or jointly with
any other person, with any branch or office of ICICI
Bank Limited (whether in India or elsewhere) towards
the satisfaction of any or all of the Customer's liabilities
(whether such liabilities be present or future, actual
or contingent, primary or collateral, or several or
joint) under the Terms or for the Customer's account(s)
or under the terms of any other facilities that may
be granted by ICICI Bank to the Customer.
In respect of a joint Account, ICICI Bank shall be
entitled to set-off any sums standing to the credit
of such joint account against the debit balance in other
accounts which may be held by one or more holders of
such joint Account.
ICICI Bank shall not be under any obligation to exercise
any of its rights under this Paragraph.
The abovementioned rights of ICICI Bank are without
prejudice to the obligations of the Customer to pay
to ICICI Bank when due all its indebtedness and without
prejudice to any other rights that ICICI Bank may have
against the Customer for recovery of outstanding from
Customer to ICICI Bank.
ICICI Bank shall be entitled to withhold payments
out of the Customer's Account or dishonour the Customer's
cheque/ instructions in case any amounts outstanding
from the Customer to ICICI Bank are not paid when due.
26. Governing Law
The laws of India shall govern these Terms. The Parties
hereby agree that any legal action or proceedings arising
out of the Terms shall be brought in the courts or tribunals
at Mumbai in India and irrevocably submit themselves to
the jurisdiction of such courts and tribunals. ICICI Bank
may, however, in its absolute discretion, commence any legal
action or proceedings arising out of the Terms in any other
court, tribunal or other appropriate forum, and the user
hereby consents to that jurisdiction. Any provision of the
Terms which is prohibited or unenforceable in any jurisdiction
shall, as to such jurisdiction, be ineffective to the extent
of prohibition or unenforceability but shall not invalidate
the remaining provisions of the Terms or affect such provision
in any other jurisdiction.
The Customer hereby irrevocably authorises ICICI
Bank to disclose, as and when ICICI Bank is required
to do so by applicable law or when ICICI Bank regards
such disclosure as necessary or expedient (including
but not limited to disclosures for the purpose of credit
review of any Account, service/s or credit facilities
received by the Customer from ICICI Bank whether singly
or jointly with others or otherwise), any information
relating to the Customer, his/her Account(s) or other
assets or credit facilities whatsoever held on the Customer's
behalf to:-
1) the head office, affiliates or any
other branches or subsidiaries of ICICI Bank; 2) his/her auditors, professional advisers
and any other person(s) under a duty of confidentiality
to the Bank; 3) vendors, installers, maintainers
or servicers of ICICI Bank's computer systems; 4) any exchange, market, or other authority
or regulatory body having jurisdiction over ICICI Bank,
its head office or any other branch of ICICI Bank or
over any transactions effected by the customer or the
Borrower or for the customer's or the Borrower's account; 5) any party entitled to make such
demand or request; 6) any person with whom ICICI Bank
contracts or proposes to contract with regard to the
sale or transfer or sharing of any of its rights, obligations
or risks under the Terms; 7) any person (including any agent,
contractor or third party service provider) with whom
ICICI Bank contracts or proposes to contract with regard
to the provision of services in respect of the Customer's
or the Borrower's account(s) or Facilities (as the case
may be) or in connection with the operation of ICICI
Bank's business; 8) any person employed with, or engaged
as an agent by, the Bank or its head office or affiliates,
including any relationship officers for the purposes
of or in connection with interactions with the Customers
or providing services to the customers or the Borrower's
or processing transactions pertaining to the Customers'
or the Borrower's accounts or Facilities; and 9) to enable ICICI Bank to centralise
or outsource its data processing and other administrative
operations) to ICICI Bank's head office, its affiliates
or third parties engaged by the Bank for any such services/operations.
The Customer hereby agrees and consents that ICICI
Bank shall be entitled, in connection with the Customer's
application for any account, facilities or services
provided by ICICI Bank, or during the course of the
Customer's relationship with ICICI Bank, to obtain and
procure information pertaining to the Customer or any
of his/ her/ its accounts, legal or financial position
from whatever sources available to ICICI Bank.
28. Closure of the Account
ICICI Bank reserves the right to close or freeze the Account(s),
after due notice to the Customers for reasons which may
include, but not limited to, the following:
In case any of the documents furnished towards Identity
and address proof are found to be fake / forged / defective;
Account opening cheque is returned unpaid for financial
reasons/ signature not matching;
In case fraudulent / forged / fake cheques / bank
drafts or any such instruments are attempted to be cleared
/ cleared through the Account;
In case of frequent returns of inward / outward cheques
in the Account;
In case debit balance is allowed to continue for
more than 90 days in the Account;
Improper conduct of the Account in terms of volume
/ type of transactions;
For unsatisfactory conduct of the Account.
The Customers shall be solely liable for return of cheques
/ dishonouring of any instruments consequent to such
closure and all costs / charges arising out of such
closure / freezing of the Account(s).
Upon closure of the Account(s) for any of the reasons
specified above or otherwise, the Customer shall take
steps to collect any balance amount in the Account,
if any, and till such time the Customer collects such
amounts, ICICI Bank reserves the right to keep
29. Change of communication address
Customer agrees to notify ICICI Bank regarding change in his/her residence/employment address, contact number and e-mail id for communication as stated in the application form for opening the relationship, and provide any other information that ICICI Bank may require from time to time. In case account holder fails to update communication address ICICI Bank disclaims all liability resulting from any loss or damage due to delivery of deliverables like I-kit, cheque book, debit card, internet banking user id/ password etc to the incorrect address.
The
effective date of Fixed Deposit shall be the date
on which the bank gets funds to its account. No
Fixed Deposit Receipt is issued in anticipation
of realisation of the cheque.
2. Auto
Renewal
2.1
Fixed deposits
are accepted with auto-renewal facility at periodicity
as opted by the depositors.
3. Fixed
Deposit Receipt / Memorandum of Deposit
3.1
Fixed Deposit
Receipt or Memorandum of Deposit will be issued
to account holder as may be decided by the Bank
from time to time for customer convenience.
4. Tax
Deducted at Source
4.1
Tax at source
is deducted as applicable from the interest on fixed
deposit, as per Income Tax Act, 1961.
5. Payment
of Interest on Fixed Deposit
5.1
Interest
on rupee denominated fixed deposits is reckoned/paid
at quarterly intervals, at the rates applicable
at the time of acceptance as the case may be, in
accordance with RBI directives.
5.2
The interest
on FCNR(B) deposits will be paid on the basis of
360 days to a year. The method of calculation of
interest is as below:
• FCNR(B) deposits for one year, the applicable
rate without any compounding effect.
• In respect to FCNR(B) deposits for more
than 1 year, at intervals of 180 days each and thereafter
simple interest for remaining actual number of days.
If NRE, FCNR(B) & RFC deposits are closed before
completion of 12 months from the date of deposit, no
interest is payable.
On premature withdrawal of deposits, subject to item
1 above
• For NRE deposits below Rs. 100 million: There
is no penalty for premature withdrawal of deposits.
Interest will be paid at the rate applicable for the
period deposit has been with the Bank or the contracted
rate, whichever is less.
• For NRE deposits of Rs. 100 million and above:
Interest will be paid at 1% below the rate applicable
for the period deposit has remained with the Bank or
1% below the contracted rate whichever is less.
• For FCNR(B) & RFC Deposits: Interest will
be paid at 1% below the applicable rate for the period
the deposit has remained with the Bank or 1% below the
contracted rate whichever is less.
• For NRO deposits: Interest will be paid at the
rate applicable on the date of deposit for the period
the deposit has remained with the Bank or the contracted
rate whichever is less, minus the applicable penalty.
ICICI Bank Limited is incorporated in India and regulated by the Reserve Bank of India ("RBI") and maintains its head office in Mumbai, India. The product and services mentioned above are provided by ICICI Bank and ICICI UK PLC and is subject to product/service specific terms & conditions. The details of such terms and conditions are available on www.icicibank.com/nri or www.icicibank.co.uk or at any branch of ICICI Bank in India. The products and services mentioned in this advertisement are also subject to RBI and FSA rules and other applicable laws and regulations. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank.
Issued and Approved for the purpose of Section 21 of the Financial Services and Markets Act, 2000 by ICICI Bank UK PLC (Company No. 04663024) having its registered office at 21 Knightsbridge, London SW1X 7LY. ICICI Bank UK PLC is authorised and regulated by the Financial Services Authority. It is subject to the laws of England and Wales. ICICI Bank UK PLC is a 100% owned subsidiary of ICICI Bank Limited. ICICI Bank Limited is regulated and authorised to take deposits in India by the Reserve Bank of India. Terms and Conditions apply for all products and services. This advertisement is not intended to nor should it be construed to represent that ICICI Bank UK PLC or its affiliates provide products or services in jurisdictions where they are not licensed or registered to do so.
This offer is available only to individuals (hereinafter, "customers") who are eligible to hold an NRE Account as per FEMA/RBI guidelines.
This service is available to customers who have an average quarterly balance of INR 3 lac in their NRE / NRO Savings Account or INR 5 lac under their Cust ID.
The customer has to maintain the balance in the same customer ID.
A combination of customer ID's is not permitted.
A customer eligible for this service can apply for a platinum debit card.
The insurance cover is provided by ICICI Lombard General Insurance Company Limited. ICICI Bank will bear no liability for any service/offer/product offered by any third party.
ICICI Bank reserves the right to change/remove the insurance benefits without prior notification to the customer.
If the account holder(s) do not meet the required eligibility criteria on a continuous basis or as decided from time to time, his/her account status will be changed to regular NRI, and NRI Edge benefits will be withdrawn without any notice. The customer will be informed about the change in status through an e-mail on the e-mail address provided at the time of opening the account as per the bank's records.
ICICI Bank reserves the right to levy any or all charges towards a customer's non-maintenance of the quarterly average balance in his account. ICICI Bank also reserves the right to terminate the said service to those customers who change their status from NRI to resident.
ICICI Bank reserves all rights to modify/change/alter the terms and conditions of this service without prior notice and such changes will be deemed to be accepted by the customer.
Terms & Conditions for Account for Insurance
Free insurance cover will be valid from the date of activation of NRI Edge Account in ICICI Bank. This cover will remain valid till the customer remains an NRI Edge customer.
The insurance cover would initiate only from the date of NRI edge account activation.
Account activation will be defined by the bank.
For loss of baggage,delay in checkin of baggage and loss of documents insurance cover will be applicable only if the loss arises in India
Claims will be settled only through reimbursements and only on receipt of original bills by ICICI Lombard
The delay in checked in baggage is valid only if the delay exceeds more than 12 hours of the scheduled
departure
Lost card liability - covers loss occurring 2 days pre and 7 days post reporting, and only on retail transactions.
This cover is applicable only in India and does not include any liability arising due to gross negligence by the insured
Accidental hospitalization - covers medical expenses arising due to an accident when the person is in India. This cover is applicable only when the hospitalization is for minimum 48 hours
Free tickets - covers only immediate family members i.e. parents / spouse & children. Fare on these travels will be reimbursed by ICICI Lombard only on presentment of original tickets. And the boarding pass
Reimbursement of the NRI (applicant) will be done only in cases when the applicant is required to visit his/her dependents (insured) who has been hospitalized due to specified medical emergencies -Stroke, Heart Attack (MI), Coronary Artery Bypass, Graft Surgery, Kidney Failure, End-stage Renal Failure, End-stage Liver Disease and Brain Tumor Surgery
For the purpose of insurance cover, the customer's personal information (as provided by him/her during the account opening process) and account number will be shared with the insurance provider. This will be used to verify the customer identity in case of any claims. The said information will be shared after taking the consent of the customer and would be used for purpose of issuance of policy
Due to regulatory restrictions in certain countries and due to ICICI Bank's policies, insurance cover can not be provided in all geographies. Depending on customer's current or permanent country of residence free Insurance cover might not be available to the customer. In permitted countries and subject to fulfillment of other eligibility criteria, the insurance cover is available solely at the desire of the customer and if so desired, personal details of the customer will be shared with the insurance provider to verify the customer identity in case of any claims.
Please Note :
Insurance covers
Terms and conditions
Personal accident - air
This cover is available for PRIMARY Card members upto the age of 69 and is applicable both in
India and outside India. The cover includes 100% benefit in case of total & disablement ( as decided by insurance company
Free air ticket both to and fro in case of emergency
Cover available only for NRI Edge primary account holder in case of qualifying medical emergency (as outlined separately in this section) arising on immediate family members (parents, spouse and children
Loss of passport - during stay in India
Incase of theft, the same should be reported to the insurance company within 24 hours of discovery of such theft and same should be informed to the policy immediately.
Loss of checked in baggage in India
Cover available only on baggage checked in on any airline through which the insured is commuting to India.
Delay in checked in baggage in India
Cover available only if the delay is more than 12 hours from the scheduled departure time and is limited to baggage checked in by airline on an outbound flight while traveling to India and if the loss occurs only in India.
Misuse of Debit card - lost card liability
All PIN based transactions (like ATM, Internet, Telephone etc) are not covered ,
Please note: Pre-delivery fraud is not covered & loss arising 2 days prior to reporting and 7 days post reporting is only covered for retail transactions.
Accidental hospitalization (when in India)
Covers only medical expenses on hospitalization arising due to rail/road accident when the person is in India. This cover is only for primary card holders and is applicable only when the hospitalization is for minimum 48 hours.
Contact details & Documentation Requirement for Claiming Insurance:
a.
For policy details or for lodging a claim, the customer may call ICICI Lombard call centre no. +91 22 3983 9443, you can also write at Retails Claim
ICICI LOMBARD GIC
4th Floor, Interface 11
Malad Link Road, Malad (W)
Mumbai – 400 064
b.
ICICI Lombard (IL) would intimate the claimant about the documents requirement.
c.
ICICI Lombard's Customer service department to decide the admissibility of any claim after receiving the documents and investigation report, if applicable.
d.
On admissibility, the payment will be made. The payment as per the policy terms and conditions will be made within 15 days after receipt of all complete documents to the customer.
e.
In case, the documents are not received form the customer within 90 days of intimation the claim would be closed.
General Exclusions: No indemnity is available hereunder and no payment will be made by the insurance company for any claim caused directly or indirectly by, on the basis of, arising out of or howsoever attributable to any of the following:
Suicide, attempted suicide or self-inflicted injury or illness
The influence of intoxicating liquor or drugs
Any deliberate or intentional, unlawful or criminal act, error, or omission on the part of the insured
War (whether declared or not), civil war, invasion, act of foreign enemies, rebellion, revolution, insurrection, mutiny, military or usurped power, seizure, capture, arrest, restraint or detainment, confiscation or nationalization or requisition of or damage by or under the order of any Government or public local authority.
Engaging in aviation or ballooning, whilst mounting into, dismounting from or travelling in any balloon or aircraft other than as a passenger (fare-paying or otherwise) in any duly licensed standard type of aircraft anywhere in the world.
Participation as driver, co-driver or passenger of a motor vehicle during motor racing or trial runs and as pilot or co-pilot of an aircraft/helicopter.
Travelling in helicopters or private jets
Participation in any naval, military or air force operations whether in the form of military exercises or war games or actual engagement with the enemy, whether foreign or domestic.
Gross negligence of the part of the insured.
If the insurance company asserts that a claim is not covered by this policy by reason of any of these exclusions, the onus of proving that such claim is indeed covered shall lie upon the insured.
Recurring Deposits
DATE
OF NRE RECURRING DEPOSIT
The effective date from which the credit shall be given for
any installment shall be the date on which ICICI Bank gets
clear funds into the Account of the Depositor/s.
The minimum core Installment to be deposited by the Depositor/s
for NRE Recurring Deposit is Rs. 5000/- and thereafter in
multiples of Rs. 1000/- The maximum installment amount is
Rs. 100,000/- The Depositor/s shall, at the time of opening
the Account, stipulate the installment and the total number
of installments to be payable. The Installment and the number
of installments cannot be altered subsequently.
NRE Recurring Deposits installments have to be paid by the
depositor vide standing instructions being provided for
making of debits from the depositor’s ICICI Bank NRE
Savings account only. ICICI Bank will not be responsible
for informing/ advising the depositor to maintain adequate
balance in his NRE savings account to pay his installments.
Installment for any calendar month must be paid on or before
the last working day of that particular calendar month.
The funds deposited on a date following the non-payment
of the Installment for the previous month(s), shall first
be appropriated towards the un-paid Installment.
In case of delay in payment
of any installment, the Depositor/s shall be liable to pay
interest at the rate of Rs.12 per Rs.1000 or part thereof
or such other rate as may be specified by ICICI Bank for
the period of delay. Fraction of a month will be treated
as full month for the purpose of calculating such interest.
The total interest so chargeable to the Depositor/s shall
be recovered from the total amount of interest payable by
ICICI Bank at the time of maturity or at the time of next
deposit of installment, whichever is earlier
Interest on the Deposits is calculated at quarterly intervals,
at the applicable rates as communicated to the Depositor/s
at the time of Account opening and in the Statements. Such
interest rates shall be in accordance with RBI directives
from time to time. The interest amount shall be paid to
the Depositor/s on the Maturity date or on completion of
the Tenure, whichever is later.
The NRE Recurring Deposit will mature for payment on the
date as has been pre-specified at the time of opening such
account or 30 days after the last installment is paid, whichever
is later (“the maturity date”). The maturity
proceeds will be credited to the NRE Savings account of
the depositor. ICICI Bank shall not be liable to make payment
of any interest or other amounts on and from the maturity
date of the NRE Recurring Deposit.
If an NRE Recurring Desposit is closed or discontinued for
any reason before the maturity date before the maturity date
(other than death of depositor), the amount of installments
already paid shall be paid together with the interest calculated
on simple interest basis on monthly installments at the interest
rate applicable at the time of opening the ICICI Bank NRE
Recurring Deposit for the period for which the ICICI Bank
NRE Recurring Deposit has been continued minus penalty, if
any. NRE Recurring Deposits closed before completion of 12
months will not earn any interest.
An Account will normally be closed upon payment of all the
stipulated number of installments. The Deposit together
with interest shall be paid to the Depositor(s) by a pay
order or by crediting the sum to the Depositor/s or in case
of Joint Depositors, the Primary Applicant’s ICICI
Bank Savings Bank Account as specified in the AOF.
These terms and conditions (“Terms”) apply to and regulate the operation of the Rupee plus Plan (RPP) offered by ICICI Bank to customers. These terms and conditions shall be in addition to any other terms as stipulated by ICICI Bank from time to time.
1.Definitions
In these terms and conditions, the following words and phrases have the meaning stated hereunder unless indicated otherwise:
1.1“Request letter” refers to the relationship form for RPP.
1.2 "Customer" the details whereof are as specified in the Request letter from time to time which expression shall mean and include any heirs, successors or administrators of the Customer or any liquidator or receiver appointed in respect of the Customer.
1.3“Quarter” shall mean a financial quarter i.e. April – June, July – September, October – December, January – March in any financial year.
1.4"Services" shall mean the services provided by ICICI Bank in connection with the RPP and more particularly described in these Terms.
1.5"Website" refers to the website owned, established and maintained by ICICI Bank at the www.icicibank.com
2. Interpretation
2.1 All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation".
2.2 Words importing any gender include the other gender.
2.3 Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force.
2.4 All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of these Terms.
2.5 Words “ICICI Bank”, “the Bank”, refer ICICI BANK LIMITED, a company incorporated under the Companies Act, 1956 and licensed as a bank under Banking Regulation Act, 1949 and having its Registered Office at Landmark, Race Course Circle, Vadodara - 390 007, India and Corporate Office at ICICI Bank Towers, Bandra -Kurla Complex, Mumbai-400 051.
3. Applicability of Terms
These Terms forms the contract between the Customer and ICICI Bank. The Customer shall apply to ICICI Bank in the prescribed form or Request letter for operation of the RPP and availing of the related Services. By applying for RPP, the Customer acknowledges that he / she has /have read understood and accepted these terms and conditions.
4. The Customer through the Rupee plan request letter (issued at behest of the customer from time to time) requests ICICI Bank to open a USD/GBP/EUR FCNR deposit for USD/GBP/EUR equivalent (the “Deposit Amount”) as mentioned in the Request letter for a period of 1 year 1 day (“the Deposit”) and book a forward contract/deal/arrangement for conversion of the Deposit Amount together with accrued interest payable to the customer after appropriate reductions, if any into INR upon maturity subject to the terms and conditions set out herein.
5. The customer authorizes the bank from time to time to book this forward contract/deal, at the rate as may be determined by the bank, which shall be binding on the customer in accordance with the client request letter
6. The details of maturity amount in USD/GBP/EUR booked under forward arrangement, RPP and forward rate would be advised to the customer through a confirmation letter. On issuance of such a confirmation letter the booking of the RPP under forward arrangement /contract on behalf of the customer shall be treated as complete and the customer would be bound by the terms of the confirmation letter along with other applicable terms. The confirmation letter would be the prima facie evidence for the acceptance of the terms of the RPP booked by ICICI Bank on behalf of the customer.
7. In case if the customer receives an amount less than the forward contract amount on account of any contingency like interest variation, applicable charges or any other reason, the Bank will be obliged to sell to the customer actual amount received by him. The customer has to bear any loss or cost incurred by the Bank on account of such reduced receipt from FCNR deposit.
8. The Customer should not book any forward contract/arrangemet in respect of the Deposit with any other bank /other person. The Customer shall utilize the exchange received exclusively for the transaction contemplated.
9. The transaction contemplated under this arrangement is/shall be in accordance with the prevalent EXIM Policy, FEMA Regulations and other applicable laws.
10. The Customer shall quote the Request letter Number on the Date of Maturity and shall submit the required documents (“Documents”) to ICICI Bank after which the purchase and sale transaction contemplated under forward arrangement and RPP shall be completed.
11. No premature closure of the Deposit or reversal/cancellation of the sale and purchase of exchange shall be acceptable except in case of extreme emergency at the sole discretion of the ICICI Bank.
12. Cancellation charges and all the exchange loss and all other losses/expenses whatsoever that may arise on account of such reversal/cancellation shall be borne by the customer.
13. RPP is subject to FEMA ,FEDAI & RBI rules and regulations
14. Any legal action or proceedings arising out of this Agreement shall be brought in the courts or tribunals at Mumbai in India and ICICI Bank may, however, in its absolute discretion commence any legal action or proceedings arising out of this Agreement in any other court, tribunal or other appropriate forum, and the Customer hereby consents to that jurisdiction.
15. These terms and conditions are governed by and construed in accordance with the laws of India.
16. Customer agrees to treat the confirmation letter and other applicable terms and conditions( “ RPP Documents” as a conclusive evidence, and not to dispute the validity, accuracy or authenticity of, RPP Documents or any evidence of its instructions and communications transmitted between the Customer and the Bank, including such evidence in the form of the Bank’s computer records or transaction logs, magnetic tapes, cartridges, computer printouts, copies of any communication, any written statement by the Bank confirming the posting of any notice or communication, or any other form of information storage.
17. Customer further agree that all such records shall be binding upon him and that Customer will not be entitled to dispute the validity or authenticity of the same. Subject to the applicable laws of evidence, the Bank and Customer agree not to object to admission of the records (including computer records) of the other as evidence in legal proceedings.
18. By applying for this product Customer hereby accepts and understands to have read these terms & conditions as mentioned herein and available at www.icicibank.com/nri
19. These terms & conditions apply in additions to and not in derogation from terms & conditions for any other specific product or services.
Terms and conditions for the issue and use of ICICI Bank ATM cards
Meaning of certain terms : The term "Bank" refers to "ICICI
Bank Ltd." "ATM" refers to the Automated
Teller Machines installed by the Bank "Card holder"
refers to an account who has been issued an ICICI Bank ATM
Card.
ICICI Bank ATM Card Issuance
An account holder may be issued an ICICI Bank ATM Card by
the bank at its discretion, if he/she has satisfactorily
conducted savings and/or current account and/or any other
type of account so designated by the Bank to be eligible
account(s) for operations through the use ICICI Bank ATM
Card. The account holder shall give his/her preference of
such account(s) held by him in writing in the Relationship
form for issue of ICICI Bank ATM Card. A Minor's account or an account in which a minor is a joint account holder,
is not eligible for issuance of ICICI Bank ATM Card.
There may be more than one such account in which case one
account shall be designated as " Primary Account",
and the others as "Secondary Account 1" and "
Secondary Account 2" at the option of the Cardholder.
ICICI Bank ATM Card : ICICI Bank ATM Card
shall be issued to an approved account holder in respect
of his account to enable him to operate the ATM.
ATM-Facilities :
The facilities offered under ATM facility will include withdrawal
of cash by the Cardholder from his account up to a stipulated
amount limit only during a cycle of 24 hours deposit of
cash and cheques in the account enquiry about the balance
in the account(s), cash/cheque deposits requisition for
a statement of account, request for changed PIN number,
request for issue of cheque-books, request for transfer
of amount from the Primary Account to the Secondary Account(s)
or vice-versa and such other facilities as the Bank may
decide to provide, from time to time.
Minimum Balance in Primary Account
:
The Cardholder shall maintain, at all times, such minimum
balance in his account, as the Bank may decide from time
to time and the Bank may at its discretion levy such penal
or service charges as per the Bank's rules from time to
time, or withdraw the ATM facility, if at any time the amount
of deposit falls short of the required minimum as aforesaid,
without giving any further notice to the Cardholder(s) and/or
without incurring any liability or responsibility whatsoever
by reason of such withdrawal.
Fees: Currently, the ATM card is issued
free of cost to customers. Also no charges are levied for
transactions made through the ATM. However, the Bank reserves
the right to charge fees for the ATM facilities in future
with prior intimation to customers.
Bank's Lien :
The Bank shall have the right of set-off and lien, irrespective
of any other lien or charge, present as well as future on
the deposits held in the Cardholder's Primary Account and/or,
Secondary Account(s) or in any other account, whether in
single name or joint name(s), to the extent of all outstanding
dues, whatsoever, arising as a result of the ICICI Bank
ATM card services extended to and / or used by the Cardholder.
The Bank and its group companies shall have the paramount
right of set-off and lien, irrespective of any other lien
or charge, present as well as future on the deposits of
any kind and nature (including fixed deposits) held/ balances
lying in any accounts of the Cardholder/s, whether in
single name or joint name(s) and on any monies, securities,
bonds and all other assets, documents and properties held
by/ under the control of The Bank and/or its group companies
(whether by way of security or otherwise pursuant to any
contract entered/ to be entered into by the Cardholder/s
in any capacity) to the extent of all outstanding dues,
whatsoever, arising as a result of any of The Bank's or
its group companies’ services extended to and/or
used by the Cardholder/s and/or as a result of any other
facilities that may be granted by The Bank and/or its
group companies to the Cardholder/s. The Bank and/ or
its group companies are entitled without any notice to
the Cardholder/s to settle any indebtedness whatsoever
owed by the Cardholder/s to The Bank and/or its group
companies, (whether actual or contingent, or whether primary
or collateral, or whether joint and/or several) hereunder
or under any other document/ agreement, by adjusting,
setting-off any deposit(s) and/or transferring monies
lying to the balance of any account(s) held by the Cardholder/s
with The Bank and/or its group companies notwithstanding
that the deposit(s)/ balances lying in such account(s)
may not be expressed in the same currency as such indebtedness.
The Bank's and its group companies’ rights hereunder
shall not be affected by the Cardholder/s’ bankruptcy,
death or winding-up. It shall be the Cardholder/s’
sole responsibility and liability to settle all disputes/
objections with any such joint account holders.
In addition to the above mentioned right or any other
right which The Bank and its group companies may at any
time be entitled whether by operation of law, contract
or otherwise, the Cardholder authorises the Bank: (a)
to combine or consolidate at any time all or any of the
accounts and liabilities of the Cardholder with or to
any branch of The Bank and/or its group companies; (b)
to sell any of the Cardholder/s’ securities or properties
held by the Bank by way of public or private sale without
having to institute any judicial proceeding whatsoever
and retain/appropriate from the proceeds derived there
from the total amounts outstanding to The Bank and/or
it group companies from the Cardholder/s, including costs
and expenses in connection with such sale; and (c) in
case of cross currency set-off, to convert an obligation
in one currency to another currency at a rate determined
at the sole discretion of The Bank and/or its group companies.
Multiple Cards : In case of joint account(s)
Either or Survivor /anyone or Survivor where more than one
person has been issued ICICI Bank ATM Card, all the Card-holders
put together, shall withdraw only upto the permissible limit
allowed to single card account(s), within the cycle time
of 24 hours.
Joint account :
In case of joint accounts where only one card is issued
to a joint account holder, the other joint account holder(s)
shall expressly agree with and give his/her consent on the
application form for issue of ICICI Bank ATM card. In case
any of the joint account holder(s) gives "stop payment
stop transactions" instructions in respect of operations
through the use of ICICI Bank ATM card, on any of the accounts
held jointly by them, no operations will be allowed on such
account(s) through the use of ICICI Bank ATM card. The "stop
payment stop transactions" instruction can be given
only in respect of such accounts in which he/she is a joint
account holder.
Personal Identification Number
:
Each Cardholder will be issued a sealed envelope containing
a four digit number called Personal Identification number
(PIN) to gain access to the ATM services. This number can
be changed to any other convenient four digit number by
the cardholder, at the ATM. The PIN shall under no circumstances
be revealed to any third party. The Cardholder shall be
solely responsible for the consequences arising out of the
disclosure of his PIN and/or unauthorised use of ICICI Bank
ATM card and shall be liable for any increased liability
which he may incur on account of unauthorised use of the
PIN and ICICI Bank ATM card. If the Cardholder forgets the
PIN, he/she should make an application in writing for a
fresh PIN. The selection of a new Personal Identification
Number and/or the replacement of ICICI Bank ATM card shall
not be construed as the commencement of a new contract.
Funds in the accounts:
The Cardholder should not use or attempt to use ICICI Bank
ATM card without sufficient funds in the account he wants
to operate through the card.
Loss/ Theft of Cards : The Cardholder shall be responsible
for the safe custody of ICICI Bank ATM card. In case of
loss or theft of the ICICI Bank ATM card, the Cardholder
shall advise any of our branches, preferably the ICICI Bank
ATM card issuing branch as promptly as possible in writing,
of the loss of ICICI Bank ATM card, however occuring. Cardholder
shall however be responsible and liable for all transactions
effected by the user of the Card until it is confiscated
/ cancelled. Another ICICI Bank ATM card will be issued
to the Cardholder, in lieu of lost / stolen ICICI Bank ATM
card, upon request in writing and payment of issue fee.
Authority to debit the account
:
The Cardholder along with the joint account holder(s), if
any, shall authorise the Bank to debit the account(s) with
the amount of withdrawals, or transfers effected by the
use of ICICI Bank ATM card, as per the Bank's records. The
Bank's record for transactions processed by the ATM machine
shall be binding on all the joint account holders, jointly
and severally.
Deposits :
The amount of cash/cheque deposits shall be verified by
two members of the Bank's staff, one of whom will be an
officer. The amount verified by the Bank shall be deemed
to be correct amount deposited by the Cardholder. The statement
issued by the ATM at the time of deposit only represents
what the Cardholder purports to have deposited and will
not be binding on the Bank. If there are soiled, mutilated
notes in such deposits, the acceptance of such deposits
shall be subject to final acceptance and reimbursement by
RBI as per the Note Refund Rules. Cheques will be accepted
for collection only and the proceeds will not be available
until they have been cleared. Deposits of foreign currency
cash/cheques /soiled and mutilated notes or any other deposits
which are unacceptable, shall be returned, at the Cardholders
cost, risk and responsibility.
Responsibility for all transactions
processed through the ATMs :
Operations through the ATM facility on the Cardholders account(s)
can only be through the use of ICICI Bank ATM card on the
machine. The Cardholder shall in all circumstances, accept
full responsibility for all transactions processed by the
use of his/ her ICICI Bank ATM card, whether or not processed
with the Cardholder's knowledge or authority, express or
implied. The printed output that is produced at the time
of operation of the ATMs are a record of the operation of
the ATMs and shall not be construed as the Bank's records.
The Bank's records of transactions shall be accepted as
conclusive and binding for all purpose.
Closure of account(s) :
If the Cardholder desires to close his account(s) or withdraw
any ICICI Bank ATM card linked deposit, or even otherwise
decides to terminate the use of the ICICI Bank ATM card
facility, he shall give a written notice of at least two
days and surrender ICICI Bank ATM card to the Bank. The
Cardholder shall also pay dues, if any, payable to the Bank
in connection with the ATM facility.
Change of terms and conditions
:
The Bank has the absolute discretion to withdraw ICICI Bank
ATM card, the service thereby provided, or amend or supplement
any of the above terms and conditions at any time without
prior notice to the Cardholder.
Honouring the Card :
The Bank shall in no circumstances be held liable to the
Cardholder if ICICI Bank ATM card is not honoured in the
desired manner for whatsoever reason, or if the ATM is destroyed
or not functioning due to power failure, temporary insufficiency
of cash in the ATM or any other reason. The Bank will not
be liable for any consequential or indirect loss or damage
arising therefrom.
Ownership of ICICI Bank ATM card: ICICI
Bank ATM card shall be the property of the Bank and will
be surrendered to the Bank on request or in the event of
the Cardholder no longer requiring the service. The Bank
reserves the right to disclose, in strict confidence, to
other institutions, such information concerning the Cardholder's
account as may be necessary or appropriate in connection
with its participation in any ATM or Electronic Fund Transfer
Network.
In this document the following
words and phrases have the meaning stated hereunder
unless indicated otherwise:
Account/s" refers
to the Cardholder's NRE / NRO designated by the Bank to
be eligible account/s for operations through the use of
the Card.
Account Statement" means a monthly statement of account
sent by the Bank to a Cardholder setting out the Transactions
carried out and balance in the Account as on that date,
and any other information as the Bank may deem fit to include.
Affiliate" of
the Bank shall mean and include: (i) a subsidiary of ICICI
Bank, ii) a person under the control of or under common
control with ICICI Bank, or (iii) any person in more than
26% of the voting securities of which ICICI Bank has a direct
or beneficial interest or control. For the purpose of this
clause, "control" together with grammatical variations
when used with respect to any person, means the power to
direct the management and policies of such person, directly
or indirectly, whether through the ownership of the vote
carrying securities, by contract or otherwise howsoever;
and "person" means a company, corporation, a partnership,
trust or any other entity or organisation or other body
whatsoever.
ATM" means any
Automated Teller Machine whether in India or overseas, whether
of the Bank or a specified Shared Network, at which, amongst
other things, the Cardholder can use his Card to access
his funds in his Account held with the Bank.
"The Bank" or "ICICI Bank" refers to
ICICI Bank Limited, a banking company incorporated in India
under the Companies Act, 1956, and licensed under the Banking
Regulation Act, 1946, and having its registered office at
Landmark Building, Race Course Circle, Alkapuri, Baroda-390
007; the proprietors of the Card, and may include its successors,
assign and nominees.
"Card" refers
to the ICICI Bank Ncash Debit Card issued to the Cardholder.
"Cardholder" refers to a customer of the Bank
to whom a Card has been issued and who is authorised to
hold the Card.
"International
Transactions" refers to the Transactions entered into
by the Card holder on his internationally valid Debit Card
outside of India, Nepal and Bhutan.
"Merchant Establishment"
shall mean establishments wherever located which honour
the Card and shall include, among others, stores, shops,
restaurants, hotels and airline organisations advertised
as honouring the Card. “Merchant" means any person
who owns or manages or operates a Merchant Establishment.
"PIN" means
the Personal Identification Number allocated to the Cardholder
by the Bank or chosen by the Cardholder/ Bank from time
to time, in relation to the Card.
"POS Terminal"
means the point of sale electronic terminals at Merchant
Establishments whether in India or overseas, capable of
processing Card Transactions and at which, amongst other
things, the Cardholder can use his Card to access his funds
in his Account held with the Bank to make purchases.
"Primary Account"
shall mean in the case of multiple accounts of the Cardholder,
the account linked to the Card and debited for Transactions
carried out with the Card.
Shared Network"
shall mean VISA or MasterCard networks which honour the
Card.
Transactions”
shall mean any instruction given by a Cardholder using a
Card directly or indirectly to the Bank to effect a transaction.
"Valid Charge"
means a charge incurred by the Cardholder for purchase of
goods or services on the Card or any other charge as may
be included by the Bank from time to time for the purpose
of this Scheme.
ICICI Bank 24 Hour Customer Care Centre" refers to
ICICI Bank Phone Banking Service or phone banking service
offered by such other entity as may be nominated by the
Bank, which shall be available to all Cardholders.
The headings in these Terms and Conditions are inserted
for convenience of reference only and are to be ignored
in construing and interpreting this Agreement.
References to VISA regulations pertain to the guidelines
issued by VISA to all the member banks of its network.
The rules of interpretation as set out in the General
Clauses Act shall apply to these Terms and Conditions
as if incorporated herein.
The Card is valid for use at ATMs and Merchant Establishments
in India only. The Card is valid up to the last working
day of the month indicated on the Card.
The Cardholder can access
cash, make payments at Merchant Establishments and ascertain
information about his Remittance Card account balance through
the use of the Card at ATMs/ POS devices (whether of the
Bank or a Shared Network).
To enable the Cardholder to use the Card, a Personal Identification
Number (PIN) will be issued to him. The PIN shall be mailed
to him and the Cardholder shall ensure that the same is
received in a sealed envelope. This PIN may subsequently,
be changed by the Cardholder, at his own risk, at an ATM.
The security of the PIN is very important. If the Cardholder
fails to observe these security requirements, he may incur
liability for the Bank for any reason whatsoever. The Bank
may, in its absolute discretion issue a replacement Card
with a new PIN for any lost or stolen Card or a new PIN
on the existing Card or issue a renewal Card with a new
or the same PIN on the same terms and conditions or such
other terms and conditions as the Bank may deem fit. Subject
to the foregoing provisions, the Cardholder will not hold
the Bank liable in case of improper/ fraudulent/ unauthorized/
duplicate/erroneous use of the Card and/or the PIN through
the Card falling in the hands of any third party or through
the PIN coming to the knowledge of any third party.
If a Card is lost or stolen, the Cardholder must file a
report with the local police and send a copy of the same
to the Bank. The Cardholder will be liable for all charges
incurred on the Card until the Card is hotlisted/cancelled.
The Cardholder may report a Card loss over the telephone
to the Bank's 24-Hour Customer Care Centre. The Bank upon
adequate verification will temporarily suspend the Card,
and will subsequently hotlist/cancel the Card during working
hours on a working day following the receipt of such intimation.
If the Cardholder loses his Card overseas, he may either
follow the above procedure or may report the loss through
the VISA Global Emergency Assistance (VGEA) helplines. In
case the Cardholder uses the VGEA services, then the charges
for the usage of such services shall be borne by the Cardholder.
The Cardholder shall take cognisance of the fact that once
a Card is reported lost, stolen or damaged and is subsequently
found, the same shall be promptly cut in half, returned
to the Bank and adequate care taken to prevent its misuse.
The Cardholder is responsible for the security of the Card
and shall take all steps towards ensuring the safe keeping
thereof. In the event the Bank determines that the aforementioned
steps are questionable, financial liability on the lost
or stolen Card would rest with the Cardholder. Provided
that the Cardholder has complied with the terms and conditions
in aII respects, a replacement Card may be issued at the
sole discretion of the Bank.
The Card issued to the Cardholder shall remain the property
of the Bank and will be surrendered to the Bank, on request.
The Cardholder shall return the Card to the Bank for cancellation
in the event the services are no longer required by the
Cardholder or if the services are withdrawn by the Bank
for any reason whatsoever. The Bank, may, in its absolute
discretion issue a replacement Card with a new PIN for any
lost or stolen Card or a new PIN on the existing Card, or
issue a renewal Card with a new or the same PIN on the same
terms and conditions or such other terms and conditions
as the Bank may deem fit. Subject to the foregoing provisions,
the Cardholder will not hold the Bank liable incase of improper/fraudulent/
unauthorized/duplicate/erroneous use of the Card and/or
the PIN through the Card falling in the hands of any third
party or through the PIN coming to the knowledge of any
third party.
The Cardholder may discontinue this facility anytime by
a written notice to the Bank accompanied by the return of
the Card cut into two diagonally. The Cardholder shall be
liable for all charges incurred, up to the receipt of the
written notice duly acknowledged. The Bank shall be entitled
to discontinue this facility at any time by canceling the
Card with or without assigning any reason whatsoever and
by giving seven day's notice. The notice shall be deemed
to have been received the Cardholder within seven days of
posting to the Cardholder's address in India last notified
in writing to the Bank.
The Cardholder shall at all times ensure that the Card is
kept at a safe place and shall under no circumstances whatsoever
allow the Card to be used by any other individual. The Cardholder
will sign the Card immediately upon receipt. The Card is
the property of the Bank and must be returned to an authorised
person of the Bank on request. The Cardholder shall ensure
that the identity of the authorised person of the Bank is
established before handing over his Card. The Cardholder
will be responsible for all facilities granted by the Bank
in respect of the Card and for all related charges and shall
act in good faith in relation to all dealings with the Card
and the Bank. The type of Transactions offered on Shared
Network ATM's may differ from those offered on the Bank's
own network. The Bank will only support cash withdrawal
and balance enquiry Transactions that will be offered at
the ATM's belonging to Shared Networks. The Bank reserves
the right to change the types of Transactions supported
without any notice to the Cardholder.
The Cardholder can get a verbal or written history of his
Transactions by calling the ICICI Bank 24-Hour Customer
Care Centre. The Cardholder can also check the transaction
records from the Account Statement available online at the
Bank’s website. The Cardholder will inform the Bank
in writing within 15 days, if any irregularities or discrepancies
exist in the Transactions/ particulars of the Account on
any Account Statement that is made available to the Cardholder.
If the Bank does not receive any information to the contrary
within 15 days the Bank may assume that the Account Statement
and the Transactions are correct. To ensure the Cardholder's
interests, the Bank may record on camera or on video tape,
at its own discretion the access to and the presence of
any person while availing the use of the Card facilities.
All records maintained by the Bank, in electronic or documentary
form of the instructions of the Cardholder and such other
details (including. but not limited to payments made or
received) pursuant to this agreement, and all camera/video
recordings made as mentioned above shall as against the
cardholder, be deemed to be conclusive evidence of such
instructions and such other details.
The Card is operable with the help of the confidential PIN
at ATM locations. All Transactions conducted with use of
the PIN will be the Cardholder's responsibility and he will
abide by the record of the transaction as generated. When
the Cardholder completes a transaction through an ATM he
can opt to receive a printed transaction record. The amount
of available funds is shown on this ATM receipt when he
uses his Card. The Cardholder can also get information regarding
his available funds including written statement, by calling
the ICICI Bank 24-Hour Customer Care Centre. The Cardholder
is advised to retain the record of Transactions generated
by the ATM with him. The Cardholder agrees that he will
be allowed to withdraw/ purchase only a certain amount of
cash everyday irrespective of the credit balance in the
Account(s). This amount will be announced from time to time.
Any attempt to violate this limit may lead to withdrawing
of his Card facility. The Cardholder agrees not to attempt
to withdraw/ purchase using the Card unless sufficient funds
are available in the Account. The onus of ensuring adequate
Account balances is entirely on him.
The Card is acceptable at all Merchant Establishments in
India only which display the logos of the Bank/VISA and
which have a POS terminal. The Card is for electronic use
only as in the case of the charge slip/transaction slip
printed electronically from the POS terminal. The Cardholder
must sign a Sales Slip whenever the Card is used at a Merchant
Establishment and should retain his copy. The Bank at an
additional charge may furnish copies of the Sales Slip.
Any Sales Slip not personally signed by the Cardholder,
but which can be proved as being authorised by the Cardholder
will be his liability. The amount of the transaction is
debited from the Remittance Card account linked to the Card
immediately. The Card is operable with the help of the Cardholder's
signature or the PIN at POS terminals installed at Merchant
locations depending on the functionality of the pos terminal.
The Bank will not accept responsibility for any dealings,
the Cardholder may have with the Merchant including but
not limited to the supply of goods and services. Should
the Cardholder have any complaints concerning any Merchant
Establishment, the matter should be resolved by the Cardholder
with the Merchant Establishment and failure to do so will
not relieve him from any obligations to the Bank. However,
the Cardholder should notify the Bank of this complaint
immediately, The Bank accepts no responsibility for any
surcharge levied by any Merchant Establishment and debited
to the Cardholder's Account with the Transaction amount.
Any charge or other payment requisition received from a
Merchant Establishment by the Bank for payment shall be
conclusive proof that the charge recorded on such requisition
was properly incurred at the Merchant Establishment for
the amount and by the Cardholder using the Card referred
to in that charge or other requisition, except where the
Card has been lost, stolen or fraudulently misused, the
burden of proof for which shall be on the Cardholder. In
case a Cardholder wishes to cancel a completed transaction
due to an error or on account of merchandise return, the
earlier sales receipt must be cancelled by the Merchant
and a copy of the cancelled receipt must be retained in
the Cardholder's possession. Reversal/refund of debits due
to such Transactions will be processed 'manually and the
cancelled sales slip needs to be produced by the Cardholder,
if called for. The Card is not to be used at hotels during
check-in and also at other locations where paying arrangement
is done before completion of the purchase transaction or
service. The Card should not be used for any mail order/phone
order/internet purchases and any such usage will be considered
as unauthorized and the Cardholder will be solely responsible.
GLOBAL CARDHOLDER
ASSISTANCE SERVICES (VISA GLOBAL EMERGENCY ASSISTANCE
HELPLINES)
The multi-lingual VISA Emergency Assistance Services Programme
offers worldwide emergency referral assistance to VISA Cardholders
when travelling overseas. These include a wide range of
legal, medical and other services. The communications and
arrangements of services of the emergency assistance programme
are provided by a third-party service provider and are paid
for by VISA International and the Cardholder is responsible
for the cost of any and all medical, legal or other services
used. Assistance is provided on a best effort basis and
may not be available due to problems of time, distance or
locations. The medical and/or legal professionals suggested
and/or designated by VISA International are not employees
of VISA International and, therefore, they are not responsible
for the availability, use, acts, omissions or results of
any medical, legal or transportation service. The Bank does
not accept any responsibility for the arrangement or the
use of such services.
In consideration of the Bank providing the Cardholder with
the facility of the Card, the Cardholder hereby agrees to
indemnify and keep the Bank indemnified from and against
all actions, claims, demands, proceedings, losses, damages,
personal injury, costs, charges and expenses whatsoever
which the Ba.3nk may at any time incur, sustain, suffer
or be put to as a consequence of or by reason of or arising
out of providing the Cardholder the said facility of the
Card or by reason of the Bank's acting in good faith and
taking or refusing to take or omitting to take action on
the Cardholder's instructions, and in particular arising
directly or indirectly out of the negligence, mistake or
misconduct of the Cardholder; breach or noncompliance of
the rules. Terms and Conditions relating to the Card and
the Account and/or fraud or dishonesty relating to any Transaction
by the Cardholder or his employee or agents. The Cardholder
shall indemnify and hold harmless the Bank from any and
all consequences arising from the Cardholder not complying
with the Exchange Control Regulations of the RBI and/or
any other Act/Authority. The Cardholder agrees to indemnify
the Bank for any machine/ mechanical error/failure. The
Cardholder shall also indemnify the Bank fully against any
loss on account of misplacement by the courier or loss-in-transit
of the Card/PIN. Without prejudice to the foregoing, the
Bank shall be under no liability whatsoever to the Cardholder
in respect of any loss or damage arising directly or indirectly
out of:
Any defect in quality of goods or services supplied.
The refusal of any person to honor to accept a Card.
The malfunction of any computer terminal.
Effecting Transaction instructions other than by a
Cardholder.
Handing over of the Card by the Cardholder to anybody
other than the designated employees of the Bank at the
Bank's premises.
The exercise by the Bank of its right to demand and
procure the surrender of the Card prior to the expiry
date exposed on its face, whether such demand and surrender
is made and/or procured by the Bank or by any person
or computer terminal.
The exercise by the Bank of its right to terminate
any Card.
Any injury to the credit, character and reputation
of the Cardholder alleged to have been caused by the
re-possession of the Card and/or, any request for its
return or the refusal of any Merchant Establishment
to honor or accept the Card.
Any misstatement, misrepresentation, error or omission
in any details disclosed by the Bank except as otherwise
required by law, if the Bank receives any process, summons,
order, injunction, execution distraint, levy lien, information
or notice which the Bank in good faith believes calls
into question the Cardholder's ability, or the ability
of someone purporting to be authorised by the Cardholder,
to transact on the Card, the Bank may, at its option
and without liability to the Cardholder or such other
person, decline to allow the Cardholder to obtain any
portion of his funds, or may pay such funds over to
an appropriate authority and take any other steps required
by applicable law. The Bank reserves the right to deduct
from the Cardholder's Account a reasonable service charge
and any expenses it incurs, including without limitation
reasonable legal fees, due to legal action involving
the Cardholder's Card.
The Bank may, at its discretion, make available to the Cardholder
more services on the Card, ATMs, POS Terminals, and/or other
devices through Shared Networks for the Cardholder's convenience
and use. All fees and charges related to Transactions done
by the Cardholder at these devices, as determined by the
Bank from time to time will be recovered by a debit to his
Account. The Cardholder understands and agrees that the
Shared Networks may provide different functionalities and
service offerings and different charges for different services.
The Bank shall also, in its sole discretion, at any time,
without notice to the Cardholder, be entitled to 'withdraw,
discontinue, cancel, suspend/or terminate the facility to
use the Card and/or services related to it, at ATMs / POS
Terminal/other devices within/outside India and shall not
be liable to the Cardholder for any loss or damage suffered
by him resulting in any way from such suspension or termination.
The Cardholder hereby agrees that in case the Cardholder
commits a default in payment or repayment of any amount
due on the Card, ICICI Bank and/or the Reserve Bank of India
(RBI) will have an unqualified right to disclose or publish
the details of the default including the name of the Cardholder
and/or its directors/partners/ co-applicants as applicable
as defaulters in such manner and through such media as ICICI
Bank or RBI in their absolute discretion may think fit.
The Cardholder hereby authorizes ICICI Bank to exchange,
share or part with all the information relating to the Cardholder's
details and repayment history information and all information
pertaining to and contained in these Terms and Conditions
or as expressed in the application made for the Card to
its Affiliates/ other ICICI Bank Group Companies/Banks/Financial
Institutions/ Credit Bureaus/ Agencies/Statutory Bodies
as may be required and undertakes not to hold ICICI Bank/its
Affiliates/the other group companies of ICICI Bank Group
and their agents liable for use of the aforesaid information.
The annual fees for the Card will be debited to the Account
on application/renewal at the Bank's prevailing rate.
The fees are not refundable. The Bank reserves the right
at any time to charge the Cardholder for the issue or
reissue of a Card and/or any fees/charges for the Transactions
carried out by the Cardholder on the Card. Any such fees
and charges will be deducted automatically from the Cardholder's
Account at the time the fee or charge is incurred. In
addition, operators of Shared Networks may impose an additional
charge for each use of their ATM/ POS Terminal/other device,
and any such charge along with other applicable fees/charges
will be deducted from the Cardholder's Account. There
will be separate service charges levied for such facilities
as may be announced by the Bank from time to time and
deducted from the Cardholder's Account. In the situation
that the Account does not have sufficient funds to deduct
such fees, the Bank reserves the right to deny any further
Transactions. The decision of the Bank is binding on the
Cardholder. Any government charges, duty or debits, or
tax payable as a result of the use of the Card shall be
the Cardholder's responsibility and if imposed upon the
Bank (either directly or indirectly), the Bank shall debit
such charges, duty or tax against the Cardholder's Account.
The Cardholder also authorizes the Bank to deduct from
his Account, and indemnifies the Bank against any expenses
it may incur in collecting money owed to it by the Cardholder
in connection with the Card. (including without limitation
reasonable legal fees). In case of Accounts classified
as overdrawn Accounts, the Cardholder will have to rectify
the Account balance position immediately. In every such
situation where the Account gets overdrawn, a flat charge
could be levied in addition to the interest to be charged
on the debit balance in the Account. This charge will
be determined by the Bank and will be announced from time
to time. In the event of an Account being overdrawn due
to Card Transactions, the Bank reserves the right to setoff
this amount against any credit lying from any of the Cardholder's
other Accounts held jointly or singly without giving any
notice. Nothing in these Terms and Conditions shall affect
the Bank's right of setoff, transfer and application of
monies at law or pursuant to any other agreement from
time to time subsisting between the Bank and Cardholder.
17A. The Bank and its group companies
shall have the paramount right of set-off and lien,
irrespective of any other lien or charge, present as
well as future on the deposits of any kind and nature
(including fixed deposits) held/ balances lying in any
accounts of the Cardholder/s, whether in single name
or joint name(s) and on any monies, securities, bonds
and all other assets, documents and properties held
by/ under the control of The Bank and/or its group companies
(whether by way of security or otherwise pursuant to
any contract entered/ to be entered into by the Cardholder/s
in any capacity) to the extent of all outstanding dues,
whatsoever, arising as a result of any of The Bank's
or its group companies’ services extended to and/or
used by the Cardholder/s and/or as a result of any other
facilities that may be granted by The Bank and/or its
group companies to the Cardholder/s. The Bank and/ or
its group companies are entitled without any notice
to the Cardholder/s to settle any indebtedness whatsoever
owed by the Cardholder/s to The Bank and/or its group
companies, (whether actual or contingent, or whether
primary or collateral, or whether joint and/or several)
hereunder or under any other document/ agreement, by
adjusting, setting-off any deposit(s) and/or transferring
monies lying to the balance of any account(s) held by
the Cardholder/s with The Bank and/or its group companies
notwithstanding that the deposit(s)/ balances lying
in such account(s) may not be expressed in the same
currency as such indebtedness. The Bank's and its group
companies’ rights hereunder shall not be affected
by the Cardholder/s’ bankruptcy, death or winding-up.
It shall be the Cardholder/s’ sole responsibility
and liability to settle all disputes/ objections with
any such joint account holders.
In addition to the above mentioned
right or any other right which The Bank and its group
companies may at any time be entitled whether by operation
of law, contract or otherwise, the Cardholder authorises
The Bank: (a) to combine or consolidate at any time
all or any of the accounts and liabilities of the Cardholder
with or to any branch of The Bank and/or its group companies;
(b) to sell any of the Cardholder/s’ securities
or properties held by The Bank by way of public or private
sale without having to institute any judicial proceeding
whatsoever and retain/appropriate from the proceeds
derived there from the total amounts outstanding to
The Bank and/or it group companies from the Cardholder/s,
including costs and expenses in connection with such
sale; and (c) in case of cross currency set-off, to
convert an obligation in one currency to another currency
at a rate determined at the sole discretion of The Bank
and/or its group companies.
The Bank accepts no responsibility for refusal by any Merchant
Establishment to accept and/or honor the Card. In case of
dispute pertaining to a Transaction with a Merchant Establishment
a Sales Slip with the signature of the Cardholder together
with the Card number noted thereon shall be conclusive evidence
as between the Bank and the Cardholder as to the extent
of liability incurred by the Cardholder and the Bank shall
not be required to ensure that the Cardholder has duly received
the goods purchased/to be purchased or has duly received
the service availed/to be availed to the Cardholder's satisfaction.
In case the Cardholder has any dispute in respect of any
charge indicated in the Account Statement, the Cardholder
shall advise details to the Bank within 15 days of the Account
Statement date failing which it will be construed that all
charges are acceptable and in order. The Bank may at its
sole discretion accept any disputes on charges older than
15 days. The Bank shall make bonafide and reasonable efforts
to resolve an aggrieved Cardholder's disagreement with the
applicable charge indicated in the Account Statement within
two months of receipt of the notice of disagreement. If
after such effort the Bank determines that the charge indicated
is correct then it shall communicate the same to the Cardholder
along with details including a copy of the Sales Slip or
payment requisition. Any dispute in respect of a Shared
Network ATM Transaction will be resolved as per VISA regulations.
The Bank does not accept responsibility for any dealings
the Cardholder may have with Shared Networks Should the
Cardholder have any complaints concerning any Shared Network
ATM, the matter should be resolved by the Cardholder with
the Shared Network, and failure to do so will not relieve
him from any obligations to the Bank. However, the Cardholder
should notify the Bank of the complaint immediately.
The Cardholder may, under
the Card, be offered various insurance benefits from time
to time by the Bank through a tie-up with an insurance company,
The Cardholder specifically acknowledges that he shall not
hold the Bank responsible for any matter arising out of
or in conjunction with such insurance cover, whether for
or in respect of any deficiency or defect in such insurance
cover, recovery or payment of compensation, processing or
settlement of claims or otherwise howsoever, and all such
matters shall be addressed to and sorted out directly with
the insurance company. The insurance company will be solely
liable for settlement of the claim. Further, the Cardholder
also agrees that the Bank may at any time (in its sole discretion
and without giving any notice thereof to the Cardholder
or assigning any reason thereof) suspend, withdraw or cancel
the benefit of such insurance cover, and there will be no
binding obligation on the Bank to continue this benefit.
The Terms and Conditions for use of the Card are as specified
in this document and as amended by the bank from time to
time. The Cardholder shall be deemed to have unconditionally
agreed to and accepted these Terms and Conditions by signing
the Card application form, or acknowledging receipt of the
Card in writing, or by signing on the reverse of the Card,
or by performing a transaction with the Card or by requesting
activation of the Card to the ICICI Bank 24-Hour Customer
Care' Centre or after 10 days have elapsed since the Card
was dispatched to his address on record. These Terms and
Conditions will be in addition to and not in derogation
of the Terms and Conditions relating to any account of the
cardholder, The Bank may also make a change without notice
if the change is necessary to maintain or restore the security
of the electronic system or equipment used for the Card
Transactions, The Cardholder will be notified within 30
days if such a change is made, unless disclosure would jeopardize
the security of the electronic system or equipment.
The Bank reserves the right to alter, amend or revise any policy, benefit or feature offered on the Card as also alter any of these terms and conditions and may notify the Cardholder of any changes to the terms and conditions for use of the Card in any manner it considers appropriate. Without prejudice to the forgoing, notification of any such changes may be given by the Bank by delivering it to the Cardholder personally or by posting it to his latest address recorded with the Bank. The Cardholder must notify the Bank of any change to his address. Proof of posting to such last notified address shall be conclusive proof of the notification at the time when it ought to be delivered in due course by the post even if the notification may be returned through the post undelivered.
ICICI Bank and the Cardholder agree that any legal action
or proceedings arising out of this Terms and Conditions
shall be brought in the courts or tribunals at Mumbai in
India and irrevocably submitting themselves to the jurisdiction
of that court or tribunal. ICICI Bank may, however, in its
absolute discretion commence any legal or proceedings arising
out of these Terms and Conditions in any other court, tribunal
or other appropriate forum, and the cardholder hereby consents
to the jurisdiction. The agreement shall be governed by
and construed in accordance with the laws of India.
Terms and Conditions governing internet banking service of ICICI Bank
DEFINITIONS
In this document the following words and phrases shall
have the meanings as set below unless the context indicates
otherwise:
"Account(s)" refers to the user's bank account,
credit card account, home loan account, automobile loan
account, consumer durable loan account, depository account
and/or any other type of account (each account hereafter
referred to as an "Account" and collectively
as "Accounts"), so maintained with ICICI Bank
or its Affiliate which are eligible Account(s) for purposes
of Internet Banking. One of these Accounts shall be designated
as the Primary Account and all other Accounts, if any,
of the user shall be referred to as Secondary Account(s).
"Affiliate" of ICICI Bank shall mean and include
any company which is the holding company or subsidiary
of ICICI Bank, or any person under the control of or under
common control with ICICI Bank or in more than 26% of
the voting securities of which ICICI Bank has a direct
or beneficial interest or control.
For the purpose of this definition of Affiliate, "control"
together with grammatical variations when used with respect
to any person, means the power to direct the management
and policies of such person, directly or indirectly, whether
through the ownership of the vote carrying securities,
by contract or otherwise howsoever; and "person"
means a company, corporation, a partnership, trust or
any other entity or organisation or other body whatsoever.
"ICICI Bank" refers to ICICI Bank Limited,
a company incorporated under the Companies Act, 1956 and
licensed as a bank under the Banking Regulation Act, 1949
and having its registered office at Landmark, Race Course
Circle, Vadodara 390 007 and corporate office at ICICI
Bank Towers, Bandra Kurla Complex, Mumbai 400 051.
"Internet Banking" refers to the internet banking
service offered by ICICI Bank to the user including services
such as enquiry about balance in the Account, details
about transactions in the Account(s), statement of Account,
transfer of funds and any other service as ICICI Bank
may decide to provide from time to time through internet.
The availability/non-availability of a particular service
shall be communicated to the user through email, web page
of ICICI Bank or in writing as may be deemed fit by ICICI
Bank. Such Internet Banking may be provided by ICICI Bank
directly or through its associates or contracted service
providers.
"User" or "user" refers to a customer
of ICICI Bank and/or of the Affiliates authorised to use
Internet Banking. In case of the user being a minor, the
guardian of such minor shall be permitted to use Internet
Banking.
"Payer" refers to the person who holds the Debit
Account.
"Payee" refers to the person to whom User will
transfer Fund(s).
"Personal Information" refers to the information
provided by the user to ICICI Bank.
"Terms" refer to terms and conditions herein
for use of Internet Banking.
"Payee Registration Confirmation” refer to
confirmation of Payee Registration to whom User will transfer
Fund(s).
"Website" refers to the website owned, established
and maintained by ICICI Bank located at the URL www.icicibank.com.
In this document all references to the user being referred
in masculine gender shall be deemed to include the feminine
gender.
These Terms form the contract between the user and ICICI
Bank for availing Internet Banking. The user shall apply
to ICICI Bank in the prescribed form for use of Internet
Banking. ICICI Bank shall be entitled at its sole discretion
to accept or reject such applications as may be submitted
by the users. By applying for or availing of Internet
Banking, the user acknowledges and accepts these Terms.
Notwithstanding anything contained herein, all terms and
conditions stipulated by the Affiliates pertaining to
the Accounts shall continue to be applicable to the users
provided in the event of a conflict in the terms stipulated
by the Affiliates and the terms herein, the terms herein
shall have overriding effect. These terms will be in addition
to and not in derogation of the terms and conditions relating
to any account of the user.
For the purpose of availing Internet Banking, the user
would need to have legal and valid access to the Internet.
The information provided to the user through the Internet
Banking is not updated continuously but at regular intervals.
Consequently, any information supplied to the user through
Internet Banking will pertain to the date and time when
it was last updated and not as the date and time when
it is supplied to the user. ICICI Bank shall not be liable
for any loss that the user may suffer by relying on or
acting on such information.
ICICI Bank may keep its records of the transactions in
any form it wishes. In the event of any dispute, ICICI
Bank's records shall be binding as the conclusive evidence
of the transactions carried out through Internet Banking
in the absence of clear proof that ICICI Bank's records
are erroneous or incomplete.
Any request for any service, which is offered as a part
of Internet Banking, shall be binding on the user as and
when ICICI Bank receives such a request. If any request
for a service is such that it cannot be given effect to
unless it is followed up by requisite documentation on
part of the user, ICICI Bank shall not be required to
act on the request until it receives such documentation
from the user.
In case of any request for a service relating to any foreign
currency transaction made by the user, the exchange rates
quoted by ICICI Bank shall only be provisional and shall
be subject to future variations in the exchange rate.
The rate at which the transaction is given effect to would
be the effective rate for all intents and purposes.
The user shall ensure that Internet Banking or any related
service is not used for any purpose which is illegal,
improper or which is not authorised under these Terms.
The user shall take all necessary precautions to prevent
unauthorized and illegal use of Internet Banking and unauthorized
access to the Accounts provided by Internet Banking. ICICI
Bank shall take all commercially reasonable care to, ensure
the security of and to prevent unauthorised access to
the Internet Banking using commercially reasonable technology
available in India to ICICI Bank.
The user would be allotted an Internet Banking user-id
and a set of secret passwords by ICICI Bank in the first
instance. The user will be required to change the password
assigned by ICICI Bank on accessing Internet Banking for
the first time. As a safety measure, the user shall change
the password as frequently thereafter as possible. In
addition to user-id and password ICICI Bank may, at its
discretion, advise the user to adopt such other means
of authentication including but not limited to digital
certification and/ or smart cards. The user shall not
attempt or permit others to attempt accessing the Account
information stored in the computers of ICICI Bank through
any means other than the Internet Banking.
The user acknowledges, represents and warrants that the
password which will be issued, provides access to the
Account and that user is the sole and exclusive owner
and is the only authorised user of the password and accepts
sole responsibility for use, confidentiality and protection
of the password, as well as for all orders and information
changes (i.e., change of address) entered into Accounts
using such password.
The user grants express authority to ICICI Bank for carrying
out transactions and instructions authenticated by such
password. The user unconditionally undertakes to have
Internet Banking password of such number of letters/digits
as may be notified by ICICI Bank from time to time and
ensure that the same is kept confidential; and to not
let any unauthorised person have access to the internet
while the user is accessing the Internet Banking. If the
user forgets the Internet Banking password or the Internet
Banking Password gets locked after a number of incorrect
attempts, upto such number as may be intimated by ICICI
Bank from time to time, then the user may request for
the issue of a new password through the 24-Hour Phone
Banking Service , Internet Banking Channel or the ICICI
Bank Branch and this shall not be construed as the commencement
of a new contract. Such Password may be issued within
such time as may be intimated by ICICI Bank from time
to time. The user agrees and acknowledges that ICICI Bank
shall in no way be held responsible or liable if the user
incurs any loss as a result of information being disclosed
by ICICI Bank regarding his Account(s) or carrying the
instruction of the user pursuant to the access of the
Internet Banking and the user shall fully indemnify and
hold harmless ICICI Bank and the affiliates in respect
of the same. The user shall maintain the secrecy of all
information of confidential nature and shall ensure that
the same is not disclosed to any person voluntarily, accidentally
or by mistake. The user shall comply with such guidelines,
instructions or terms as ICICI Bank may prescribe from
time to time with respect to the password.
In case of Joint Accounts, transactions through Internet
Banking, shall be available if the mode of operation is
indicated as 'either or survivor' or 'anyone or survivor'.
The user desirous of using the Internet Banking should
either be the Account holder and sole signatory or authorised
to act independently in case of a joint account. For such
joint accounts, one user-ID and password for Internet
Banking will be issued to each of the joint account holders
when requested. The other joint account holders shall
expressly agree with the arrangement and give their consent
on the application form for use of Internet Banking. In
case of joint accounts operated by more than one user,
ICICI Bank shall act on the instruction received first
and any subsequent instruction shall be neglected. All
correspondence will be addressed to the first named person
only. All transactions arising from the use of Internet
Banking in the joint account shall be binding on all the
joint account holders, jointly and severally.
ICICI Bank reserves the right to charge and recover from
the user service charge for providing the Internet Banking
(including but not limited to the right of charging the
user for the use of funds transfer through eCheques).
The user hereby authorises ICICI Bank to recover the service
charge by debiting one of the Accounts of the user or
by sending a bill to the user who will be liable to make
the payment within the specified period. Failure to do
so shall result in recovery of the service charge by ICICI
Bank in a manner as ICICI Bank may deem fit along with
such interest, if any, and/or suspension of the facility
of Internet Banking without any liability to ICICI Bank.
The user shall ensure that there are sufficient funds
(or prearranged credit facilities) in any Account for
transactions through the Internet Banking, and ICICI Bank
shall not be liable for any consequences arising out of
its failure to carry out the instructions due to inadequacy
of funds and/or credit facilities provided always that
ICICI Bank shall at its sole discretion, be entitled to
carry out the instructions notwithstanding such inadequacy
without seeking the prior approval from or notice to the
user and the user shall be responsible to repay with interest
the resulting overdraft, advance or credit thereby created
and for all related to costs and charges.
ICICI Bank may, at its discretion, levy penal charges
for non-maintenance of the minimum balance. In addition
to the minimum balance stipulation ICICI Bank may levy
service charges for use of Internet Banking which will
be notified by ICICI Bank to the user from time to time.
Any change in such service charges will also be notified
to the user. The user authorises ICICI Bank to recover
all charges related to Internet Banking as determined
by ICICI Bank from time to time by debiting one of the
Accounts.
ICICI Bank may withdraw the provision of Internet Banking,
wholly or partly, if at any time the amount of deposit
falls short of the required minimum as aforesaid and /
or if the service charges remain unpaid, without giving
any further notice to the user and / or without incurring
any liability or responsibility whatsoever by reason of
such withdrawal.
The User accepts that he will be responsible for keying
in the correct account number for the fund transfer request.
In no case, ICICI Bank will be held liable for any erroneous
transactions incurred arising out of or relating to the
User entering wrong account numbers.
The User shall not use or attempt to use the Internet
Banking for funds transfer through eCheques without sufficient
funds in the relative Account or without a pre-existing
arrangement with ICICI Bank for the grant of an overdraft.
ICICI Bank will endeavour to effect funds transfer transaction
received through Internet Banking subject to availability
of sufficient funds in the Account and Confirmation of
Payee Registration by the User. ICICI Bank shall specify
from time to time the limit for carrying out various kinds
of funds transfer or any other services through Internet
Banking. The said facility will be provided in accordance
with the arrangement between ICICI Bank and the Affiliates
and as per conditions specified by ICICI Bank from time
to time.
ICICI Bank shall not be liable for any omission to make
all or any of the payments or for late payments due to
circumstances beyond its reasonable control including
non-confirmation of Payee Registration. ICICI Bank reserves
the right to charge the User for the use of funds transfer
through eCheques by giving due notice on the website about
such charges.
If funds transfer is made available to the user, it may
be used for transfer of funds from Account to other accounts
belonging to third parties maintained at ICICI Bank and/or
at any other Bank which falls under the network of Reserve
Bank of India's Electronic Fund Transfer system.
The User accepts that he will be responsible for keying
in the correct details of the sender and receiver for
the money order transfer request. In no case shall ICICI
Bank be held liable for any erroneous transactions incurred,
arising out of or relating to the User entering wrong
details of the sender and/or the receiver.
The Smart Money Order facility will be provided in accordance
with the arrangement between ICICI Bank and India Post
(The Department of Posts, Ministry of Communications and
Information Technology, Government of India) and conditions
pertaining to such arrangement shall be specified by ICICI
Bank from time to time. The User shall not use or attempt
to use the Internet Banking for making an online request
for money order without sufficient funds in the specified
Account . ICICI Bank will endeavour to process the money
order request received through Internet Banking subject
to availability of sufficient funds in the specified Account.
ICICI Bank shall at its own sole discretion, specify from
time to time, the minimum and maximum transaction size
for each money order request and shall be at liberty not
to accept any money order request which do not meet such
specifications.
ICICI Bank shall be responsible for only accepting the
money order requests from the User and communicating the
request to India Post. All subsequent activities, including
but not limited to, delivery of money to receiver, sending
acknowledgement / refund to sender, resolution of complaints
etc, will be carried out by India Post . ICICI Bank shall
not be responsible for any of the abovementioned activities
of India Post and does not make any representation, warranty
or undertaking in respect of such activities or the service
levels of India Posts in relation to such requests. The
User acknowledges that there may be delays or deficiencies
in service levels by third party service providers, for
which ICICI Bank cannot accept any liability.
ICICI Bank shall not be liable for any omission to make
all or any of the payments or for late payments due to
circumstances beyond its reasonable control. ICICI Bank
reserves the right to charge the User for the use of the
Smart Money Order facility by giving due notice on the
Website about such charges. This facility is also subject
to charges of India Post which will be notified on the
Website from time to time. The User's Account will be
debited for the total amount which would be inclusive
of the amount of money order, India Post charges as applicable
and ICICI Bank charges, if any.
TRANSACTION IN DEPOSITORY ACCOUNT THROUGH INTERNET BANKING
ICICI Bank shall install adequate systems to restrict the access of the transaction statement of depository account only to the user. The user shall take all the necessary steps to ensure confidentiality and secrecy of the login name and password allotted by ICICI Bank in this regard. The user permits ICICI Bank to provide the transaction statement of the depository account through internet (web-based and/or email). The user is aware that the transaction statement may be accessed by other entities in case the confidentiality / secrecy of the login name and password is compromised. In case the user opts for transaction statement through email, it shall immediately inform ICICI Bank about change in email address, if any. ICICI Bank shall verify and confirm with the user about the change. ICICI Bank shall confirm with the user about validity of the email address atleast once in a year.
The user agrees not to receive transaction statement in paper form from ICICI Bank. Provided however that, in case when the ICICI Bank is not able to provide transaction statement to its users through internet (web-based / email) due to any unforeseen problems, ICICI Bank should ensure that the transaction statement reaches to the user in physical form as per the time schedule stipulated in the Bye Laws & Business Rules of National Securities Depositary Limited.
The above terms are in addition to and not in contravention of the terms and conditions forming a part of the "AGREEMENT BETWEEN THE PARTICIPANT AND THE person SEEKING TO OPEN AN ACCOUNT WITH THE PARTICIPANT" signed by the user at the time of opening the account with the Depositary.
ICICI Bank provides the facility of payment for transactions executed on internet through different sites. ICICI Bank will execute such transactions only for the sites specified on its website ICICIBank.com and will be responsible for transferring the amount debited to the customer to the Account maintained by the Service Provider however it will not be held responsible for any informational content on any other site.
The user irrevocably and unconditionally authorises ICICI Bank to access all his Account(s) for effecting banking or other transactions performed by the user through the Internet Banking. The instructions of the user shall be effected only when such instruction is in accordance with the prescribed procedure.
ICICI Bank shall have no obligation to verify the authenticity of any transaction / instruction received or purported to have been received from the user through Internet Banking or purporting to have been sent by the user other than by means of verification of the Internet Banking user-Id and the password.
The read-out, the faxed /email output or the printed output, if any, that is received by the user at the time of operation of Internet Banking is a record of the operation of the computer by the user and shall be accepted as conclusive and binding for all purpose. All the records of ICICI Bank generated by the transactions arising out of the use of the Internet Banking, including the time the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transaction. While ICICI Bank and the Affiliates shall endeavour to carry out the instructions promptly, they shall not be responsible for any delay in carrying on the instructions due to any reason whatsoever, including due to failure of operational systems or any requirement of law. All the transactions arising through the use of the Internet Banking to operate a joint account shall be binding on all the joint account holders, jointly and severally.
All instructions for Internet Banking shall be given, through computer or any other medium/channel enabled by ICICI Bank for the purpose, by the user in the manner indicated by ICICI Bank. The user is also responsible for the accuracy and authenticity of the instructions provided to ICICI Bank and/or Affiliates and the same shall be considered to be sufficient to operate the Internet Banking. ICICI Bank shall not be required to independently verify the instructions, and the instruction shall remain effective till such time the same is countermanded by further instructions by the user. ICICI Bank shall have no liability if it does not or is unable to stop or prevent the implementation of an instruction which is subsequently countermanded. Where ICICI Bank considers the instructions to be inconsistent or contradictory it may seek clarification from the user before acting on any instruction of the user or act upon any such instruction as it deems fit. ICICI Bank states that it has no liability or obligation to keep a record of the instructions to provide information to the user or for verifying user's instructions. ICICI Bank may refuse to comply with the instructions without assigning any reason and shall not be under any duty to assess the prudence or otherwise of any instruction and have the right to suspend the operations through the Internet Banking if it has reason to believe that the user's instructions will lead or expose to direct or indirect loss or may require an indemnity from the user before continuing to operate the Internet Banking.
Any instruction, order, direction, request entered using the password of the user shall be deemed to be an instruction, order, directive, request received from the user. All instructions, requests, directives, orders, directions, entered by the user, either electronically or otherwise, are based upon the user's decisions and are the sole responsibility of the user. The user understands that entering an instruction, direction, order, request with ICICI Bank, either electronically or otherwise, does not guarantee execution of such instruction, direction, order, request. ICICI Bank shall not be deemed to have received any instruction, direction, order, request electronically transmitted by the user until it confirms the receipt of such instruction, direction, order, request.
The user is responsible for the correctness of information supplied to ICICI Bank for use of the Internet Banking or through any other means such as electronic mail or written communication. ICICI Bank accepts no liability for the consequences arising out of erroneous information supplied by the user. If the user notices an error in the information supplied to ICICI Bank either in the application form or any other communication, he shall immediately advise ICICI Bank which will endeavour to correct the error wherever possible on a "reasonable efforts" basis.
Neither ICICI Bank nor the Affiliates shall be liable for any unauthorised transactions occurring through the Internet Banking and the user hereby fully indemnifies and holds ICICI Bank and the Affiliates harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. ICICI Bank shall under no circumstance be held liable to the user if the Internet Banking is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of ICICI Bank. Under no circumstances shall ICICI Bank be liable for any damages whatsoever whether such damages are direct, indirect, incidental consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the user or by any other person. Illegal or improper use of the Internet Banking shall render the user liable for payment of financial charges as decided by ICICI Bank or will result in suspension of the operations through the Internet Banking.
The Client expressly agrees that use of the Website is at its sole risk. The Website is provided on an "as is" and "as available" basis.
Except as warranted in the Terms, ICICI Bank expressly disclaims all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy and completeness, and any warranties relating to non-infringement in Internet Banking.
ICICI Bank does not warrant that access to the Website and Internet Banking shall be uninterrupted, timely, secure, or error free nor does it make any warranty as to the results that may be obtained from the Website or use, accuracy or reliability of Internet Banking.
ICICI Bank will not be liable for any virus that may enter the user's system as a result of the user using Internet Banking. ICICI Bank does not guarantee to the user or any other third party that Internet Banking would be virus free.
In consideration of ICICI Bank providing the user the Internet Banking, the user shall, at his own expense, indemnify and hold ICICI Bank, its directors and employees, representatives, agents and/or the Affiliates, as the case may be, , indemnified against all losses and expenses on full indemnity basis which ICICI Bank may incur, sustain, suffer or is likely to suffer in connection with ICICI Bank or Affiliates' execution of the user's instructions and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses as a consequence or by reason of providing a service through Internet Banking for any action taken or omitted to be taken by ICICI Bank and /or the Affiliates, its officers, employees or agents, on the instructions of the user. The user will pay ICICI Bank and /or the Affiliates such amount as may be determined by ICICI Bank and/or the Affiliates to be sufficient to indemnify it against any such, loss or expenses even though they may not have arisen or are contingent in nature.
Further, the user agrees, at its own expense, to indemnify, defend and hold harmless ICICI Bank, its directors and employees, representatives, agents, and its Affiliates against any claim, suit, action or other proceeding brought against ICICI Bank, its directors and employees, representatives, agents, and Affiliates by a third party, to the extent that such claim, suit, action of other proceeding brought against ICICI Bank, its directors and employees, representatives, agents, and Affiliates is based on or arises in connection with the user of Internet Banking with reference to:
(i) a violation of the Terms contained herein by the user;
(ii) any deletions, additions, insertions or alterations to, or any unauthorized use of, Internet Banking by the user;
(iii) any misrepresentation or breach of representation or warranty made by the user contained herein; or
(iv) any breach of any covenant or obligation to be performed by the user hereunder. The user agrees to pay any and all costs, damages and expenses, including, but not limited to, reasonable attorneys' fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit, action or proceeding attributable to any such claim.
The user hereby agrees that under no circumstances, ICICI Bank's aggregate liability for claims relating to Internet Banking, whether for breach of in tort (including but not limited to negligence) shall be limited to the transaction charges/fees or consideration paid by the user within the previous twelve (12) months for Internet Banking, excluding any amount paid towards transactions.
The user agrees that ICICI Bank and/or Affiliates or their contractors may hold and process his personal Information and all other information concerning his Account(s) on computer or otherwise in connection with the Internet Banking as well as for analysis, credit scoring and marketing. The user also agrees that ICICI Bank may disclose, in strict confidence, to other institutions, such personal Information as may be reasonably necessary for reasons inclusive of but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal directive, for credit rating by recognised credit scoring agencies, or for fraud prevention purposes.
ICICI Bank shall have the absolute discretion to amend or supplement any of the Terms at any time and will endeavour to give prior notice of fifteen days for such changes wherever feasible. Such change to the Terms shall be communicated to the user. By using any new services as may be introduced by ICICI Bank, the user shall be deemed to have accepted the changed Terms.
The user may request for termination of the Internet Banking any time by giving a written notice of at least 15 days to ICICI Bank. The termination shall take effect on the completion of the fifteenth day. The user will remain responsible for any transactions made through the Internet Banking until the time of such termination. For the access of Depository Account through Internet Banking user and ICICI Bank shall have the right to terminate the applicability Clause 11 of this agreement after giving a notice of at least 10 days to the other party.
ICICI Bank may withdraw or terminate the Internet Banking anytime either entirely or with reference to a specific service or user; or in case of breach of Terms by the user without a prior notice; or if it learns of the death, bankruptcy or lack of legal capacity of the user. Clause 13 & 16 shall survive the termination of the Internet Banking for any reason whatsoever.
Notices under these Terms may be given by ICICI Bank and the user in writing by delivering them by hand or by sending them by post to the last address given by the user and in the case of ICICI Bank to its corporate office address as set out hereinabove. In addition, ICICI Bank may also publish notices of general nature, which are applicable to all users in a newspaper or on its web site located at www.icicibank.com. Such notices will have the same effect as a notice served individually to each user. Notice and instructions will be deemed served 7 days after posting or upon receipt in the case of hand delivery, cable, telex or facsimile.
These Terms and/or the operations in the Accounts of the user shall be governed by the laws of India. The Parties hereby agree that any legal action or proceedings arising out of the Terms for Internet Banking shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. ICICI Bank may, however, in its absolute discretion, commence any legal action or proceedings arising out of the Terms for Internet Banking in any other court, tribunal or other appropriate forum, and the user hereby consents to that jurisdiction. Any provision of the Terms for Internet Banking which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction.
ICICI Bank and the user agree that if the user opens further Accounts with/subscribes to any of the products/services of ICICI Bank or any of the Affiliates, and ICICI Bank extends the Internet Banking to such Accounts or products or services and the user opts for use thereof, then the Terms shall automatically apply to such further use of the Internet Banking by the user.
The clause headings herein are for only for convenience and do not affect the meaning of the relative clause. ICICI Bank may sub-contract and employ agents to carry out any of its obligations under this contract. Internet Banking service would be available to the users in certain cities only and during timings specified by ICICI Bank from time to time and transactions would be carried out on the same day or on the next working day depending upon the time of logging of the transaction. The user would have to ensure that the equipment used for availing of Internet Banking meets the criteria as may be specified by ICICI Bank from time to time. All costs incurred by the user including telecommunication costs to use the Internet Banking would be borne by the user.
As a tool to correct misunderstandings, the user understands, agrees and authorises ICICI Bank, at its discretion, and without further prior notice to the user, to monitor and record any or all telephone conversations or electronic communications between the user and ICICI Bank and any of its employees or agents.
These terms and conditions contain ICICI Bank's entire agreement (except as otherwise expressly provided herein) and supersede and replace any previously made proposals, representations, understandings and agreements, express or implied, either oral or in writing between the user and ICICI Bank for Internet Banking. The user acknowledges that it has not relied on any representation made by ICICI Bank or any of its employees or agents and has made its own independent assessment of Internet Banking. No third party will have any rights or claims under these terms and conditions.
i) ICICI Bank and its group companies shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any accounts of the User/s, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of ICICI Bank and/or its group companies (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the User/s in any capacity) to the extent of all outstanding dues, whatsoever, arising as a result of any of ICICI Bank's or its group companies’ services extended to and/or used by the User/s and/or as a result of any other facilities that may be granted by ICICI Bank and/or its group companies to the User/s. ICICI Bank and/ or its group companies are entitled without any notice to the User/s to settle any indebtedness whatsoever owed by the User/s to ICICI Bank and/or its group companies, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any account(s) held by the User/s with ICICI Bank and/or its group companies notwithstanding that the deposit(s)/ balances lying in such account(s) may not be expressed in the same currency as such indebtedness. ICICI Bank's and its group companies’ rights hereunder shall not be affected by the User/s’ bankruptcy, death or winding-up. It shall be the User/s’ sole responsibility and liability to settle all disputes/ objections with any such joint account holders.
(ii) In addition to the above mentioned right or any other right which ICICI Bank and its group companies may at any time be entitled whether by operation of law, contract or otherwise, the User authorises ICICI Bank: (a) to combine or consolidate at any time all or any of the accounts and liabilities of the User with or to any branch of ICICI Bank and/or its group companies; (b) to sell any of the User/s’ securities or properties held by ICICI Bank by way of public or private sale without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to ICICI Bank and/or it group companies from the User/s, including costs and expenses in connection with such sale; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of ICICI Bank and/or its group companies.
ICICI Bank shall be entitled to sell, assign, securitise or transfer ICICI Bank's right and obligations under the Terms and any security being in favour of ICICI Bank (including all guarantee/s) to any person of ICICI Bank's choice in whole or in part and in such manner and on such terms and conditions as ICICI Bank may decide. Any such sale, assignment, securitisation or transfer shall conclusively bind the user and all other persons. The user, his heirs, legal representatives, executors, administrators and successors are bound by the Terms. ICICI Bank may sub-contract and employ agents to carry out any of its obligations under this contract. However, the user shall not be entitled to transfer or assign any of his rights and obligations hereunder.
ICICI Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future, on the deposits/scrips held in the Account(s) or in any other account, whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the Internet Banking extended to and/ or used by the user.
ICICI Bank shall make reasonable efforts to advise from time to time the Internet software such as browsers which are required for availing of Internet Banking. There will be no obligation on ICICI Bank to support all or any versions of the Internet software as may be required for offering Internet Banking. The user acknowledges that the software underlying the Internet Banking as well as other Internet related software which are required for accessing Internet Banking are the legal property of the respective vendors. The permission given by ICICI Bank to access Internet Banking will not convey any proprietary or ownership rights in such software. The user shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying Internet Banking or create any derivative product based on the software.
Documents sent by electronic delivery will contain all the information as it appears in the printed hard copy version as prepared and distributed by the originator, with the possible exception of graphic insertions such as photographs or logotypes. Electronic delivery may be in the form of an electronic mail, an attachment to the electronic mail, or in the form of an available download from the Website. ICICI Bank would be deemed to have fulfilled its legal obligation to deliver to the user any document if such document is sent via electronic means. Failure to advise ICICI Bank of any difficulty in opening a document so delivered within twenty-four (24) hours after delivery shall serve as an affirmation regarding the acceptance of the document.
Terms and Conditions the e-Instruction facility of ICICI Bank Limited
DEFINITIONS
"Affiliate" of ICICI Bank shall mean and include: (a) any company which is the holding company or subsidiary of ICICI Bank; or (b) a Person under the control of or under common control with ICICI Bank; or (c) any Person, in 26% or more of the voting securities of which ICICI Bank has a direct or beneficial interest or control.
For the purpose of this definition of Affiliate, "control" together with grammatical variations means the power to direct the management and policies of a Person, directly or indirectly, whether through the ownership of the vote carrying securities, right to appoint member(s) to the Board of Directors by contract or otherwise howsoever; and "Person" means a company, corporation, a partnership, trust or any other entity or organisation or other body whatsoever.
"Agreement" shall mean these terms and shall include any modification or amendment hereof, in accordance with the terms hereof.
"Client" shall mean a person who has executed a Power of Attorney, in a form, substance and manner, acceptable to ICICI Bank, and agreed and affirmed acceptance of this Agreement.
"Client ID" means the user identification provided to the Client by ICICI Bank to enable access/operation of the e-Instruction Facility;
"Client Password" means the passwords, digital signatures or other means of authentication as ICICI Bank may specify, from time to time provided to the Client or otherwise used by the Client for access and operation of the e-Instruction Facility, using which the Client may authorise or authenticate the Transactions;
"e-Instruction Facility" refers to the services offered by ICICI Bank in accordance with this Agreement, pursuant to which a Client can generate/ send/ give /issue orders, instructions, directions or mandate to ICICI Bank for execution of Transactions and for operation of the Accounts (including demat/savings/fixed deposit/credit card/other accounts) with ICICI Bank given by or through any means of communication, (including facsimile communication, voice, video or text based communications via the telephone, mobile telephony, SMS, email, internet/website based communications) or such other means of communications now existing or hereafter offered/established or being availed of, and such further/other means of communication which ICICI Bank may determine, provided that ICICI Bank shall have the right to discontinue/cease to offer existing communication facilities from time to time.
"ICICI Bank" means ICICI Bank Limited and/or, as the context may require its Affiliate.
"Instruction" means orders, instructions, directions or mandate generated/ sent/given /issued by the Client to ICICI Bank in accordance with this Agreement by or through any means of communication (including without limitation, facsimile communication, voice, video or text based communications via the telephone, mobile telephony, SMS, email, internet/website-based communications) or such other means of communications now existing or hereafter offered/established or being availed of, and such further/other means of communication which ICICI Bank may determine, provided that ICICI Bank shall have the right to discontinue/cease to offer existing communication facilities from time to time,.
"Personal Information" means the information provided by the Client to ICICI Bank in the application form for availing any of the products/accounts (including demat/savings/fixed deposit/other accounts) and/ or services, as provided by ICICI Bank and availed of by the Client from time to time;
"Transaction" means any transaction including but not limited to transactions for purchase, sale , investment, or order for purchase or sale of or application for any offer or public/rights/private placement issue of shares, derivatives (including but not limited to, forwards, futures, swaps and options, funded margin), scrips, stocks, bonds (including Relief Bonds, corporate and government bonds), debentures, promissory notes, securities, mutual fund units (including units of the Unit Trust of India), units of any collective investment scheme or any other security or financial instrument, annuities or other mercantile negotiable instruments or for subscription/application of moneys towards the Public Provident Fund (or other pension fund or scheme) and to apply for fixed/term/other deposits of banks, non-banking financial companies & non-banking non-financial companies , or application for any loan/investment/ banking product or service offered by ICICI Bank, now existing or hereafter offered/established or being availed of, and such further/other transactions which ICICI Bank may determine, provided that ICICI Bank shall have the right to discontinue/cease to offer existing Transactions from time to time.
"Website" means www.icicibank.com.
All references to singular include plural and vice versa and the word "includes" should be construed as "without limitation". All Transactions are entered into in reliance on the fact that this Agreement and all other terms and conditions that may be specified for usage of the e-instruction Facility are to be read together.
Words importing any gender include the other gender.
Reference to any statute, ordinance or other law includes all regulations and other instruments and all consolidations, amendments, re-enactments or replacements for the time being in force;
All headings, bold typing and italics (if any) have been inserted for convenience of reference only and do not define limit or affect the meaning or interpretation of this Agreement;
Reference to a person includes a natural person, body corporate, unincorporated association, government or governmental, semi governmental or municipal entity; and reference to a party means a party to this Agreement and includes that party's successors, legal personal representatives and permitted assignees. NOTICES
ICICI Bank may give notice to Client electronically at the mailbox of the Client or in writing by delivering them by hand or by sending them by post to the last address given by the Client.
In addition, ICICI Bank may also publish notices of general nature on its Website, which are applicable to all Clients. Such notices shall have the same effect as a notice served individually to each Client.
The Client shall comply and confirm with the prescribed requirements for the purposes of due authentication as shall be stipulated by ICICI Bank from time to time, including without limitation, the following:
The Client agrees to confirm to the prescribed authentication technologies/ procedures and security measures required for Transactions and undertakes to take all reasonable steps to ensure that the Client Password and Client ID and/or other identification tools provided to the Client by ICICI Bank, are not revealed to any third Party. If third parties gain access to the Client's accounts/ details/ Personal Information, Client will be responsible and indemnify ICICI Bank against any liability, costs or damages arising out of claims or suits by such third parties based upon or relating to such access and use.
The Client must modify the Client Passwords when availing of the e-Instruction Facility for the first time.
The Client is entirely responsible for the safekeeping and use of the Client ID and Password and/or other identification tools provided/ specified to the Client by ICICI Bank, and any damages and other consequences of their misuse. As a precautionary measure, the link with the e-Instruction Facility will be interrupted after three wrong entries of the Client Password and/or the ID.
ICICI Bank has no obligation to verify the authenticity of any Transaction instruction sent or purported to have been sent from the Client other than by means of verification of the Client Password and Client ID and/or other identification tools provided/ specified to the Client by ICICI Bank. The Client accepts full responsibility for the monitoring and safeguarding of Client's accounts/ details/ Personal Information.
ICICI Bank shall advise the Client that it must:
Keep the Client ID and Client password and/or other identification tools provided/ specified to the Client by ICICI Bank confidential and not reveal them to any third party;
Choose a password which shall be at least 8 characters and does not relate to any readily accessible personal data such as name, address, telephone number, etc. of the Client or any other easy combination of letters and numbers;
Commit the Client ID and Client Password and/or other identification tools provided/ specified to the Client by ICICI Bank to memory, and not record them in written or electronic form;
Not let any unauthorised person have access to its computer and not to leave the computer unattended whilst accessing any product and/or service or the Website vides an online instruction facility.
If the Client forgets or loses the Client ID or Client Password and/or other identification tools provided/ specified to the Client by ICICI Bank, the Client can request for change of the Client Password or Client ID and/or other identification tools provided/ specified to the Client by ICICI Bank by sending a duly authorised written request to ICICI Bank. All Transactions carried out by use of the Client ID and Client Passwords and/or other identification tools provided/ specified to the Client by ICICI Bank shall be deemed to be done or authorised by the Client.
ICICI Bank accepts no liability whatsoever, direct or indirect for non-compliance with the laws of any country other than that of India. The mere fact that the Website can be accessed by a person in a country other than India would not mean that the laws of the said country would govern the e-Instruction Facility and any matter related to hereunder.
The e-Instruction Facility shall not be available to foreign residents where the e-Instruction Facility cannot be offered without prior regulatory compliance. It shall be the sole responsibility of foreign residents to verify whether the e-Instruction Facility can be legally accessed and/or utilised in their respective jurisdictions.
The provisions of these Terms and Conditions shall be governed by, and construed in accordance with Indian law. The Parties hereby agree that any legal action or proceedings arising out of this Agreement shall be brought in the courts or tribunals at Mumbai in India and irrevocably submit themselves to the jurisdiction of such courts and tribunals. ICICI Bank may, however, in their absolute discretion commence any legal action or proceedings arising out of this Agreement in any other court, tribunal or other appropriate forum, and Client hereby consents to that jurisdiction.
Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of this Agreement or affect such provision in any other jurisdiction.
In the process of using this Website and / or executing any Instruction/ Transaction on behalf of the Client, ICICI Bank may be privy to information relating to the Client, including information that is of a confidential nature. ICICI Bank is strongly committed to protecting the privacy of its clients and has taken steps to protect the information furnished to it. ICICI Bank has taken all necessary measures to protect the confidentiality of the information and its transmission under the e-Instruction Facility and it shall not be held liable for disclosure of the confidential information, unless gross negligence is established on the part of ICICI Bank.
The Client shall not disclose, in any manner whatsoever, any information relating to ICICI Bank of a confidential nature obtained in the course of availing the e-Instruction Facility , to any other person. Failure to comply with this obligation shall be deemed a serious breach of these Terms and Conditions and shall entitle ICICI Bank to terminate the e-Instruction Facility without prejudice to any damages to which it may be entitled.
ICICI Bank undertakes not to disclose the information provided by the Client to any person, unless acting under good faith that such action is necessary to:
(i) Conform to legal requirements or comply with legal process; (ii) protect and defend our rights or property;
(iii) Enforce the Terms and Conditions; or
(iv) Act to protect the interests of our members or others.
ICICI Bank may also use information including the personal information of the Client for the purposes of providing e-Instruction Facility, and share the information with third parties for provision of the e-Instruction Facility and any service-related activities related thereto, and notifying or contacting the Client regarding any problem with, or the expiration of, such e-Instruction Facility. In this regard, it may be necessary to disclose the personal information to one or more agents and contractors of ICICI Bank and their sub-contractors, but such agents, contractors, and sub-contractors will be required to agree to use the information obtained from ICICI Bank only for these purposes.
The Client authorises ICICI Bank to exchange, share, part with all information related to the details and transaction history of the Client to its Affiliates, banks / financial institutions / credit bureaus / agencies as may be required by law or customary practice and shall not hold ICICI Bank liable for use or disclosure of this information.
The Parties agree that no partnership, employment, or agency relationship exists between them as a result of availing the e-Instruction Facility. All Transactions shall be entered into by the Parties as principals and ICICI Bank and/or ICICI Bank Affiliates shall have no fiduciary duty towards the Client whatsoever notwithstanding that there may be an existing relationship between the Parties.
The Client represents to ICICI Bank (which representations will be deemed to be repeated by the Client on each date on which a Transaction is entered into) that:-
The Client has the power to perform its obligations hereunder and has taken all necessary action to authorise such execution, delivery and performance; It shall be the sole responsibility of the Client to comply with all the internal approvals, if any, for entering into Transactions as may be required.
Such execution, delivery and performance does not violate or conflict with any law applicable to it and/or any regulatory requirements, any provision of its constitutional documents, any order or judgment of any court or other agency of government applicable to it or any of its assets or any contractual restriction binding on or affecting it or any of its assets;
There is not pending or, to its knowledge, threatened against the Client any action, suit or proceeding at law or in equity or before any court, tribunal, governmental body, agency or official or any arbitrator that is likely to affect the legality, validity or enforceability against it of these Terms and Conditions or its ability to perform its obligations; and
All applicable information that is furnished in writing, by or on behalf of the Client, to ICICI Bank is, as of the date of the information, true, accurate and complete in every material respect. Provided that the Client shall intimate ICICI Bank of any change in any regulatory requirements, the effect of which may be to restrict or prohibit the Client from executing any Transaction.
This e-Instruction facility may be terminated by mutual consent of the Parties by giving at least one (1) month written notice. The termination of the e-Instruction facility shall be without prejudice to the execution of all outstanding Transactions entered into between the Parties. ICICI Bank shall be entitled to receive all fees and other monies becoming due up to the date of such termination. ICICI Bank shall be entitled to deduct any sum payable to it from any amounts ICICI Bank may have to remit to the Client on termination of the e-Instruction facility.
ICICI Bank reserves the right to interrupt, suspend or terminate, at any time, without specifying any reason, the access of the Client to the e-Instruction Facility offered hereunder and will make best efforts to give the Client appropriate notice of the same.
The occurrence at any time with respect to a party of any of the following events constitutes an event of default and the e-Instruction Facility may be terminated forthwith:-
Failure by the party to make, when due, any payment required to be made by it, and if such failure is not remedied on or before the third Business Day after notice of such failure is given to the Party;
Failure by the party to comply with or perform any obligation under the terms and conditions specified hereunder and if such failure is not remedied on or before the thirtieth day after notice of such failure is given to the party;
A representation made or deemed to have been made by the parties proves to have been incorrect or misleading in any material respect when made or deemed to have been made;
In the event of the client:- (1) having a resolution passed for its winding-up, official management or liquidation (other than pursuant to a consolidation, amalgamation or merger), as applicable ; (2) becoming insolvent or is unable to pay its debts or fails or admits in writing its inability generally to pay its debts as they become due, as applicable,; (3) making a general assignment, arrangement or composition with or for the benefit of its creditors, as applicable,; (4) instituting or has instituted against it a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditor's rights, or a petition is presented for its winding-up or liquidation, and, in the case of any such proceeding or petition instituted or presented against it, such proceedings or petition (A) results in a judgment of insolvency or bankruptcy or the entry of an order for relief or the making of an order for its winding-up or liquidation or (B) is not dismissed, discharged, stayed or restrained in each case within 30 days of the institution or presentation thereof, as applicable,; (5) seeking or becomes subject to the appointment of an administrator, provisional liquidator, conservator, receiver, trustee, custodian or other similar official for it or in respect of all or substantially all its assets, as applicable,; (6) having a secured party take possession of all or substantially all its assets or has a distress, execution, attachment, sequestration or other legal process levied, enforced or sued on or against all or substantially all its assets and such secured party maintains possession, or any such process is not dismissed, discharged, stayed or restrained, in each case within 30 days thereafter, as applicable,; (7) causing or is subject to any event with respect to it which, under the applicable laws of any jurisdiction, has an analogous effect to any of the events specified in clauses (1) to (7) (inclusive); (8) taking any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any of the foregoing acts.
ICICI Bank shall not be liable for any inaccuracy, error or delay in, or omission of, (1) any data, information or message, or (2) the transmission or delivery of any such data, information or message; or (3) any loss or damage arising from or occasioned by (i) any such inaccuracy, error, delay or omission, (ii) non-performance, or (iii) interruption in any such data, information or message, due either to any act or omission by ICICI Bank due to "force majeure" (e.g., flood, extraordinary weather condition, earthquake or other act of God, fire, war, insurrection, riot, labour dispute, accident, action of government, communications, power failure, equipment or software malfunction) or any other cause beyond the reasonable control of ICICI Bank.
The Client will immediately notify ICICI Bank in writing, delivered via e-mail or registered post, if Client becomes aware of any loss, theft or unauthorised use of Client's Passwords and ID; or any failure by Client to receive a message from ICICI Bank indicating that an order was received and executed; or any failure by Client to receive an accurate written confirmation of an execution; or any receipt by Client of confirmation of an order and/ or execution which Client did not place; or any inaccurate information in Client's depository participant account balances, securities positions, or Transaction history. If Client fails to notify ICICI Bank immediately upon Client's knowledge when any of the above conditions occur, neither ICICI Bank nor any of its officers, directors, employees, agents can or will have any responsibility or liability to Client or to any other person whose claim may arise through the Client for any claims with respect to the handling, mishandling or loss of any order. ICICI Bank will upon notice, halt or take such steps as are necessary to protect the Client's interest and which steps are capable or permitted for ICICI Bank to do or undertake. Prior to giving of the notice, any loss or damage shall be to the Client's account.
Under no circumstances, shall ICICI Bank, its employees, directors, and its third party agents involved in creating, producing, delivering or managing the e-Instruction Facility, be liable for any direct, indirect, incidental, special or consequential damages, or any damages whatsoever, including punitive or exemplary (including, but not limited to, damages caused by any virus, personal injury, negligence, loss of profits, loss of data or other intangible information, business interruption, loss of privacy, or any pecuniary loss), arising out of or in any way connected with the use/delivery/performance of the Website, the delay or inability to use the Website or any links or items on the Website, the provision of or any inadequacy or deficiency in the provision of services or resulting from unauthorized access or alteration of transmissions or data or arising from interruption, suspension or termination of the e-Instruction Facility or for any loss arising from the failure by the Client to comply with any software installation instructions or any inability of ICICI Bank to receive instructions, directions, orders or other communications from the Client or to transmit any related message for any reason whatsoever, whether based on contract, tort, strict liability or otherwise.
Where the e-Instruction Facility provided herein is interrupted for any reason whatsoever, the Client may contact ICICI Bank. ICICI Bank shall in no way be liable for the consequences of any interruption in the e-Instruction Facility.
ICICI Bank shall keep all securities/monies and other properties belonging to the Client in separate accounts (including demat/savings/fixed deposit/credit card/other accounts) with ICICI Bank or segregated from its own assets and shall not use the same for any purpose other than as directed by the Client or authorised under these Terms and Conditions or as required by rules, regulation or law for time being in force. ICICI Bank undertakes that a transfer to and from the accounts (including demat/savings/fixed deposit/credit card/other accounts) with ICICI Bank shall be made on the basis of order, instruction, direction or mandate, either standing or specific, duly authorised by the Client.
ICICI Bank reserves the right to add, amend, revise, suspend or cancel in whole or in part any of the e-Instruction Facility available through the Website, and will make best efforts to provide appropriate notice to the Client. Any addition, suspension, revision, amendment, cancellation or suspension of the terms as notified on the Website may be made by ICICI Bank, by causing a notice of the same to be posted on the Website and the Client shall be deemed to have accepted the same in the event of its executing any transaction through the Website after the addition, suspension, revision, amendment, cancellation or suspension has been notified. ICICI Bank may introduce new services in relation to the Website from time to time. The existence and availability of the new e-Instruction Facility will be notified on the Website, as and when they become available.
The Client agrees to provide ICICI Bank, if so being required to do or if in case it is deemed necessary by ICICI Bank, with a power of attorney in such form, manner or substance as ICICI Bank may require.
All payments due to ICICI Bank arising under or in respect of these Terms and Conditions will be made free of any deduction or withholding of any tax. All payments by ICICI Bank arising under or in respect of these Terms and Conditions will be made subject to deduction or withholding of taxes as applicable
The Client agrees that it shall be able to exercise the right to close/freeze the accounts (including demat/savings/fixed deposit/other accounts) with ICICI Bank , only if there is no obligation pending to be met by the Client towards either ICICI Bank and/or ICICI Bank Affiliates.
ICICI Bank has the absolute discretion to amend or supplement the Terms and Conditions herein, by modifying or rescinding any of the existing provisions or conditions or by adding any new provision or condition, by conspicuously posting notice of such amendment on the Website or by providing written notice to the Client. Continued use of ICICI Bank e-Instruction Facility after such notice will constitute acknowledgment and acceptance of such amendment.
Except as provided in these Terms and Conditions, the rights, powers, remedies and privileges provided in these Terms and Conditions are cumulative and not exclusive of any rights, powers, remedies and privileges provided by law.
A failure or delay in exercising any right, power or privilege in respect of these Terms and Conditions will not be presumed to operate as a waiver, and a single or partial exercise of any right, power or privilege will not be presumed to preclude any subsequent or further exercise, of that right, power or privilege or the exercise of any other right, power or privilege.
If any provision or condition of these Terms and Conditions shall be held to be invalid or unenforceable by reason of any law, rule, administrative order or judicial decision by any court, or regulatory or self-regulatory agency or body, such invalidity or unenforceability shall attach only to such provision or condition. The validity of the remaining provisions and conditions shall not be affected thereby and these Terms and Conditions shall be carried out as if any such invalid or unenforceable provision or condition was not contained herein.
ICICI Bank's performance of these Terms and Conditions is subject to existing laws and legal process, and nothing contained in these Terms and Conditions is in derogation of ICICI Bank's right to comply with governmental, court and law enforcement requests or requirements relating to the use of the e-Instruction Facilities by the Client or information provided gathered by ICICI Bank in respect of such use.
Terms and Conditions for Re-designation of Resident Account(s) to NRO Account(s)
If the resident account is inactive or dormant, the request for re-designation shall be treated as application to activate the account with the NRI status.
Upon receipt of customer's request for change in status to Non resident in the accounts, the existing deliverables like international debit cards shall be hot listed and new ATM card/domestic debit card shall be reissued. The customer may continue using the existing cheque book.
In case of change in address in the account, documentary proofs for the same have to be submitted as per the prevailing bank policy subject to revision from time to time. The overseas address proof is mandatory for the primary holder.
Further, in case the address of the existing resident account differs from the NRI address proof documents submitted by the primary holder, the address shall updated based on the documentary proofs submitted.
After re-designation of account into NRO , the TDS rate on interest offered on such deposits shall be as per NRO guidelines.
All the holders who have become NRIs need to submit the KYC documents as per NRI KYC policy at the time of re-designation to NRO.
Customer needs to provide the date of becoming NRI, in the absence of which the date of execution of request shall be recorded as date of conversion.
ICICI Bank Limited (“ICICI Bank”) is incorporated in India and regulated by the Reserve Bank of India ("RBI") and maintains its corporate office in Mumbai, India. Product and services provided by ICICI Bank are subject to product specific terms and conditions. Please familiarize yourself with the applicable terms and conditions, available at www.icicibank.com, in addition to the information rendered by the eRM. The products and services as mentioned are also subject to RBI rules/regulations and/or other applicable laws. This activity should not be construed as solicitation by ICICI Bank and/or its Affiliates/group companies.
The information provided by the eRMs is not intended for distribution to, or use by, any person in any jurisdiction where such distribution or use would be contrary to law or regulation. The facility of eRM is at the sole discretion of ICICI Bank and can be withdrawn with or without notice. The information provided by the eRM should not be construed as advice being provided by the eRM or ICICI Bank. Any references to the time of response or other service levels are only indicative and should not be construed to refer to any commitment by ICICI Bank or any other service provider acting for ICICI Bank. ICICI shall not be liable for any delay in the response. The use of any information set out herein is entirely at the recipient's own risk. Customer shall not be entitled for the eRM facility if he has registered/ himself on the Do Not Call service or has applied for the registration of the Do Not Call service. ICICI Bank shall not provide eRM service to the customer if the Bank is unable to access the customer in the first five attempts. ICICI Bank and the "I man" logo are the trademarks and property of ICICI Bank. Depending on your current or permanent country of residence some of the products and services might not be available to you. Please contact us for more details
Offer Period: The Offer will open at 00:00 IST on November 05, 2009 and will close at 23:59 IST, on December 05, 2009 (“Offer Period”). The customer shall become eligible to avail the Offer upon opening a Fixed Deposit (NRE, NRO, FCNR or its variants) with a minimum value of INR 1 lac with ICICI Bank during the Offer Period. Refer to the Section on ‘How to Enter’ for more details.
How to Enter:
1. By participating in the Offer, the customer agrees to be bound by the Terms and Conditions (which may be amended or varied at any time by ICICI Bank with or without notice) and by ICICI Bank’s decisions, which shall be deemed to be final and binding in all matters pertaining to the Offer. All changes in the Terms and Conditions shall be posted on http://www.icicibank.com/nri (“Website“).
2. To participate in the Offer, the customer shall be required to open a Fixed Deposit with ICICI Bank during the Offer Period in compliance with the terms and conditions governing operation of NRI accounts, available on the Website.
Eligibility:
1. All E Relationship Manager (“ERM”) mapped customers who have NRI account with ICICI Bank during the Offer Period (“Participant/s”) shall become eligible for availing the Offer.
2. Under this Offer, upon compliance with the conditions mentioned above, after the Offer period the Participant shall receive an email from ICICI Bank which will contain the travel port code as a gift (“Gift”).
3. In case there is more than one available simultaneously, no two offers can be combined by the Participant.
4. ICICI Bank shall not be responsible for any delay and/or discrepancy in providing the Gift or the quality and use of the Gift or on account of any other reasons whatsoever including, without limitation on account of delays or failures by/ attributable to reasons beyond the control of ICICI Bank.
5. ICICI Bank reserves the right to modify/change all or any of the Terms and Conditions governing the Offer. ICICI Bank also reserves the right to discontinue the Offer without assigning any reasons whatsoever.
6. The Gift is not a product of ICICI Bank and therefore, ICICI Bank shall not in any way be deemed to be making any representation or warranty whatsoever in connection with the Gift (including the quality, condition, fitness and performance thereof). ICICI Bank shall not be liable in any manner whatsoever for any loss/ damage/ claim that may arise out of use or otherwise of any goods or services availed by the Participant under the Offer.
7. The Offer and the opportunity to participate therein is entirely voluntary. Participation in this Offer shall be deemed to be acceptance of all the Terms and Conditions governing the Offer.
8. The Gift availed under the Offer is non transferable and redeemable only once and is not encashable. However, ICICI Bank reserves the right to substitute and/or change the Gift on account of non-availability of the Gift, without any intimation or notice, written or otherwise to the Participant.
9. he Offer is not available wherever prohibited and / or cannot be offered for any reason whatsoever. ICICI Bank shall be entitled, at its sole discretion, to cancel the Gift to any Participant where such prohibition is applicable and / or cannot be offered for any reason whatsoever.
10. ICICI Bank shall not be obliged to make any public announcements to intimate any Participants of the award of the Gift hereunder.
11. In all matters relating to the Offer outlined hereunder, the decision of ICICI Bank shall be final and binding in all respects.
12. The Offer shall be governed by Indian law. All disputes arising under this Offer are subject to the exclusive jurisdiction of the competent courts of Mumbai.
13. All communication should be addressed to ICICI Bank NRI Services, ICICI Bank Limited, ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051 or email at nri@icicibank.com.
14. The Terms and Conditions of the Offer shall be in addition to and not in substitution/ derogation to the terms and conditions governing the usage of NRI account as set out in the Website.
Gift Dispatch: The gift code will be mailed to all customers who have fulfilled the eligibility criteria and opened an FD with value INR 1 lac or more within the offer period. The mail will be sent on the email id of the customer registered with ICICI Bank at the end of the offer period as defined in section A above.
