Terms and conditions Governing Internet Banking Service Of ICICI Bank

Terms and conditions governing Internet Banking Service of ICICI Bank

1. Definitions : In this document the following words and phrases shall have the meanings as set below unless the context indicates otherwise:

" Account(s)" or “ Accounts” or “ Account” refers to the user's bank account(s), credit card account(s), loan / facility account(s), depository account(s) and/or any other type of account(s), so maintained with ICICI Bank or its Affiliate which are eligible Account(s) for purposes of Internet Banking. In the event there is more than one bank account linked to the same user- id, then in every such case, one shall be designated as the Primary Account and all other bank accounts 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.

" 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.

" 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.

“ ICICI Bank 24-Hour Customer Care Centre ” refers to ICICI Bank - Phone Banking Service provided by ICICI Bank to the Users.

" 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, bill payment 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.

" 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 ” refers to confirmation of Payee Registration to whom User will transfer Fund(s).

“ Payer ” refers to the person who holds the Debit Account(s).

“ Payee ” refers to the person to whom the Payer will transfer Fund(s).

“ Debit Account(s) ” refers to any account(s) of the Payer maintained with any bank for which a valid ECS debit mandate has been procured in accordance with the ECS guidelines prescribed by the Reserve Bank of India.

“ Credit Account(s) ” refers to any Account(s) of the Payee / User maintained with ICICI Bank for which a valid ECS debit mandate has been given by the Payer in accordance with the ECS guidelines prescribed by the Reserve Bank of India.

“ Received Funds Facility ” refers to transfer of funds to the Account of the User from the Debit Account of the Payer.

“ Last date for edit ” refers to the date before which the User can choose to cancel/modify the Payment Instruction.

“ Payment Date ” refers to the date indicated for a credit into the Account by the User in the Payment Instruction.

“ Payment Instruction ” refers to instructions given by the User for a credit transaction to the Account.

" Website " refers to the website owned, established and maintained by ICICI Bank located at the URL www.icicibank.com.

In these Terms, unless the contrary intention appears:

(a) a reference to :

an " amendment " includes a supplement, modification, novation, replacement or re-enactment and "amended" is to be construed accordingly;

an " authorisation " or “ approval ” includes an authorisation, consent, clearance, approval, permission, resolution, license, exemption, filing and registration;

“ law ” includes any constitution, statute, law, rule, regulation, ordinance, judgement, order, decree, authorisation, or any published, directive, guideline, requirement or governmental restriction having the force of law, or any determination by, or interpretation of any of the foregoing by, any judicial authority, whether in effect as of the date of signing/submission of the application form or thereafter and each as amended from time to time.

(b) the singular includes the plural (and vice versa);

(c) the headings in these Terms are inserted for convenience of reference only and are to be ignored in construing and interpreting the Terms;

(d) reference to the words “include” or “including” shall be construed without limitation;

(e) reference to a gender shall include references to the female, male and neuter genders;

2. Applicability of Terms : 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 ICICI Bank and/or its Affiliates pertaining to the Account(s) and/or to any services/facilities offered by ICICI Bank and/or its Affiliates, shall continue to be applicable to the users, provided, however, in the event of a conflict in such other terms and conditions stipulated by ICICI Bank and/or its Affiliates and the Terms herein, the Terms shall have an overriding effect. These Terms will be in addition to and not in derogation of the terms and conditions relating to any Account(s) of the user and/or to those relating to services/facilities offered by ICICI Bank and/or its Affiliates and availed by the user. The user agrees that in the event the user avails of any services/ facilities offered by ICICI Bank through the Website, the user shall be bound by all the terms and conditions stipulated by ICICI Bank pertaining to such services/facilities, offered by ICICI Bank and availed by the user through the Website.

3. Internet Banking : 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/facility, 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.

4. Unauthorised Access : 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.

5. Internet Banking Access : 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. The User shall also be given a one-time facility to change the user-id, available only after logging in to Internet Banking, to such user-id as may be suggested by ICICI Bank or as per User’s own discretion. The User unconditionally undertakes to have the user-id of such number of letters/digits as may be notified by ICICI Bank at the time the User attempts to change the user-id 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 user-id or the same gets disabled after a number of incorrect password attempts, upto such number as may be intimated by ICICI Bank from time to time, then the user may request for the re issue of his user id through the ICICI Bank 24-Hour Customer Care Centre or the ICICI Bank Branch and this shall not be construed as the commencement of a new contract. 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.

6. Internet Banking Password : The user acknowledges, represents and warrants that the password which will be issued to it, 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 ICICI Bank 24-Hour Customer Care Centre, 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.

7. Joint Accounts : 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.

8. Charges : 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.

9. Maintenance of Sufficient Balance : 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.

10. Funds Transfer Through Internet Banking:

A. Funds Transfer to Other accounts :

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. Further, ICICI Bank shall not be held liable if the Add Payee option gets locked after a number of consecutive attempts, as may be intimated by ICICI Bank from time to time, in which case the User may request for enabling the option through the ICICI Bank 24-Hour Customer Care Centre .

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. In the event such transfer of funds is from the Account to accounts belonging to third parties maintained at any other Bank, which falls under the network of Reserve Bank of India's Electronic Fund Transfer system, then the same shall be governed by the terms and conditions applicable to National Electronic Funds Transfer (“NEFT”) of the Reserve Bank of India as provided on the Website.

B. Received Funds Facility:

(i) ECS DEBIT MANDATE: For availing Received Funds Facility, the User shall furnish to ICICI Bank an unconditional and irrevocable ECS debit mandate, in the manner and form prescribed by ICICI Bank. The User shall submit a copy of the ECS debit mandate, signed by the Payer, to ICICI Bank for processing the same with the bank where the Payer maintains the Debit Account. The User shall obtain signature of the Payer on the ECS debit mandate and shall be solely responsible for the accuracy, completeness and correctness of the information provided in the ECS debit mandate.

Any additions or deletions to an ECS debit mandate submitted to ICICI Bank shall be communicated by the User through a fresh mandate in the form and manner as indicated by ICICI Bank on the Website or through any other medium.

(ii) PAYMENT INSTRUCTION: The User can make a Payment Instruction on the Website only after approval from the Payer’s bank on the ECS debit mandate submitted by the User. The Payment Instruction shall be in the manner and form prescribed by ICICI Bank. The User shall be solely responsible for the accuracy, completeness and correctness of the information provided in the Payment Instruction and the same shall be considered to be sufficient to effect the payment.

ICICI Bank shall endeavor to credit the Credit Account on the Payment Date and the User shall ensure availability of sufficient funds in the Debit Account before Payment Date.

(iii) HONOURING PAYMENT INSTRUCTIONS: ICICI Bank shall incur no liability if it is unable to effect any Payment Instruction on the Payment Date because of the existence of any one or more of the following circumstances:
1. If the Debit Account does not contain sufficient funds to process the Payment Instruction or the amount exceeds the overdraft limit, if any, granted to the Payer.
2. If the funds available in the Debit Account are under any encumbrance or charge.
3. The name of Payer and/or details required for effecting the payment is not correctly provided by the User.
4. Due to refusal of the Payer’s bank to honour the payment for any reason whatsoever.
5. Due to circumstances beyond its reasonable control.

Service charges will be debited from the Account(s) if a Payment Instruction fails due to any of the above mentioned reasons. The amount of the charges will be intimated to the User on the Website or through any other medium, as ICICI Bank may deem fit. Three subsequent Payment Instruction failures will also result in the ECS debit mandate for the particular Debit Account being rejected. ICICI Bank will not honour or be responsible for any Payment Instructions, which are scheduled for future dates for such rejected ECS debit mandate(s).

If an amount in excess of the amount as indicated in the Payment Instructions is debited from the Debit Account, ICICI Bank shall be responsible for reimbursing to the Payer to the extent of the amount so wrongly debited. ICICI Bank shall also have the right to debit from the User’s Account the amount of money so wrongly paid.

ICICI Bank shall have the right to refuse to comply with the Payment 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 of the Received Funds Facility if it has reason to believe that the Payment instructions will lead or expose to direct or indirect loss or may require an indemnity from the User before continuing to operate Received Funds Facility.

(iv) CANCELLING OR MODIFYING PAYMENT INSTRUCTIONS: The User shall be entitled to cancel or modify the Payment Instructions in the manner provided by ICICI Bank before the Last date for edit unless otherwise required by ICICI Bank. ICICI Bank shall not be held liable if it is unable to stop or prevent the implementation of the Payment Instructions. ICICI Bank shall at its discretion, with prior intimation to the User, charge the User for cancellation or modification of the Payment Instructions.

(v) FAILED PAYMENT INSTRUCTIONS: In case the Payment Instruction is not effected for any reason, the status of the same shall be intimated to the User through the Website.

11. Prepaid Mobile Recharge : The User accepts that he will be responsible for keying in the correct details of the prepaid mobile number and amount for which prepaid mobile recharge is requested. 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 prepaid mobile number, operator, circle and/or amount for the prepaid mobile recharge request.

ICICI Bank will endeavour to provide payment option for prepaid mobile recharge request received through Internet or Mobile 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 prepaid mobile recharge request and shall be at liberty not to accept any prepaid mobile recharge request which do not meet such specifications.

ICICI Bank shall be responsible for only accepting payment from the User and communicating the request to Aggregator. All subsequent activities, including but not limited to, prepaid mobile recharge processing etc, will be carried out Aggreagtor with the help of operators. ICICI Bank shall not be responsible for any of the abovementioned activities of Aggregator and does not make any representation, warranty or undertaking in respect of such activities or the service levels of Aggregator in relation to such requests. User needs to confirm the validity or talktime limit from respective operator. 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 Prepaid Mobile Recharge facility by giving due notice on the Website about such charges. This facility is also subject to charges of respective Operator of Prepaid Mobile Recharge, which will be notified on the Website from time to time. The User's Account will be debited for the total amount for prepaid mobile recharge as applicable and ICICI Bank charges, if any.

12. Smart Money Order : 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 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.

13. Transactions 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, through Internet Banking or any other mode prescribed by ICICI Bank. 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 and at the mailing address provided by the user to ICICI Bank at the time of availing of the facility, or as changed and notified, from time to time.

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.

14. Hot Payment Facility : 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 the Website and will be responsible for transferring the amount debited from the Account to the service provider’s account. In no event shall ICICI Bank be held responsible for any informational content on any such other site.

15. Application for Facilities through Internet Banking: The User shall have the option of applying for facilities provided by ICICI Bank on Internet Banking. The facility shall be extended to the User subject to the User complying with ICICI Bank’s credit parameters and submitting all documents required by ICICI Bank in a physical form to ICICI Bank. ICICI Bank may in its sole discretion reject the application for the facility by the User.

The User can check the availability of a pre-approved offer that may be made by ICICI Bank to the user through Internet Banking. The eligibility of a User for a facility provided by ICICI Bank shall be decided by ICICI Bank at its sole discretion. Any pre-approved offer by ICICI Bank to the User does not constitute grant of facility to the User and shall be subject to the User complying with ICICI Bank’s credit parameters and submitting all documents required by ICICI Bank in a physical form to ICICI Bank.

The User shall be given a reference number on making an application for a facility provided by ICICI Bank on Internet Banking. The reference number can be used by the User for checking the status of his application for facility with ICICI Bank through Internet Banking or by calling the Call Centers of ICICI Bank. The reference number given by ICICI Bank to the User does not constitute grant of facility to the User.

16. Authority to ICICI Bank for Internet Banking : 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.

17. Instructions : 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 or 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.

18. Accuracy of Information : The user is responsible for the correctness of information supplied to ICICI Bank for use of the Internet Banking / while using any facility of 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.

19. Liability of the user and ICICI Bank : 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.

20. Disclaimer of Warranties : 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.

21. Indemnity : 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.

22. Disclosure of Information : 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.

23. Change of Terms : ICICI Bank shall have the absolute discretion to amend or supplement any of the Terms and/or terms and conditions stipulated by ICICI Bank and/or its Affiliates pertaining to the Accounts and/or to any services/facilities offered by ICICI Bank and/or its Affiliates at any time and shall give prior notice of one month (except for change in interest rates) 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 and the terms and conditions stipulated by ICICI Bank and/or its Affiliates including amendments thereto as may be posted on the Website. Such amended Terms and terms and conditions stipulated by ICICI Bank and/or its Affiliates will thereupon apply to and be binding on the user at the expiry of one month from the date of notice.

If in the opinion of the user, the changes are to his/her disadvantage, the user may opt to close the Account and/or discontinue with the Internet Banking, without paying any extra charges or interest, at any time upto two months from the date of the notice by intimating ICICI Bank of the same.

By using any new services as may be introduced by ICICI Bank, the user shall be deemed to have accepted the changed Terms and terms and conditions stipulated by ICICI Bank and/or its Affiliates.

24. Non-Transferability : The grant of Internet Banking to a user is not transferable under any circumstance and shall be used only by the user.

25. Termination of Internet Banking : 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 12 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 14 & 17 shall survive the termination of the Internet Banking for any reason whatsoever.

26. Notices : 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.

27. Governing Law : 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.

28. Applicability To Future Accounts : 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.

29. General : The clause headings herein are for convenience only 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 contain ICICI Bank's entire arrangement (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.

30. Assignment : 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.

31. Right of set-off and Lien : 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.

32. Proprietary Rights : 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.

33. Communications through Electronic means : 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.

Disclaimer:
"ICICI Bank may, at its sole discretion, utilize the services of external service provider/s or agent/s and on such terms as required or necessary, in relation to its products/services."