Last Updated on 14th May, 2025

1. The Purnpay has provided this Privacy Policy to familiarize You with:
   1. The type of data or information that You share with or provide to any Purnpay, and that any Purnpay collects from You;
   2. The purpose for collection and usage of such data or information from You;
   3. The information security practices and policies of Purnpay; and
   4. The policy of Purnpay on disclosing, sharing or transferring Your data or information with/to third parties.
2. Amendment of Privacy Policy

   This Privacy Policy may be amended / updated from time to time. We will notify You of any amendment of, or update to, the Privacy Policy, as is required under applicable laws.

3. Information collected and storage of Information

   The information or data provided by You to a Purnpay or collected from You by the Purnpay may consist of “Personal Information”, “Sensitive Personal Information” and “Non-Personal Information”.

4. Personal Information
   1. Personal Information is information or data collected that can be used to identify You. Personal Information for the purposes of this Privacy Policy shall include, but not be limited to:

      (i) Your name, parent’s name, address, telephone number, e-mail address or other contact information;

      (ii) Your date of birth;

      (iii) Your gender, marital status;

      (iv) Your occupation;

      (v) Your internet protocol address;

      (vi) identification code of the communication device which You use to access the Website or otherwise deal with any Purnpay;

      (vii) any other information provided by You during Your registration process on the Website (other than Sensitive Personal Information);

      (viii) information provided by You towards complying with know your customer norms, either as part of Our internal policies and as may be required under applicable laws;

      (ix) information relating to query all packages installed on your device. The information collected through this process, including information about the other apps installed on your device, will be used to detect fraudulent activities.

      (x) your Short Messaging Service (SMS(es)) that are stored on your device for the purposes of, including but not limited to, registering you and your device for payments services, OTPs for logins and payments, enhancing your security, bill payments and recharge reminders. (xi) details that you have given permission to upload, sync or import (such as phone status & identity, contacts, calendar, camera, microphone or short messaging system) any information set out in this Clause pertaining to third parties that is provided to Us, during Your use of the Website;

   2. Such Personal Information may be collected in various ways including during the course of You:

      (i) registering as a user on the Website;

      (ii) registering as a merchant on the Website;

      (iii) availing certain services offered on the Website. Such instances include but are not limited to making or participating in any online survey or contest, communicating with the customer service of any Purnpay by phone, email or otherwise or posting user reviews on the services / items available on the Website;

      (iv) otherwise doing business, transacting or attempting to transact on the Website; or

      (v) otherwise dealing with any of Purnpay.

   3. We may receive Personal Information about You from third parties, such as social media services, commercially available sources and partners. If You access the Website through a social media service or connect a service on the Website to a social media service, the Information We collect may include Your user name associated with that social media service, any information or content the social media service has the right to share with us, such as Your profile picture, email address or friends list, and any information You have made public in connection with that social media service. When You access the Website or otherwise deal with any Purnpay through social media services or when You connect any Website to social media services, You are authorizing Purnpay to collect, store, use and retain such information and content in accordance with this Privacy Policy.
5. Non-Personal Information
   1. Purnpay may also collect information other than Personal Information or Sensitive Personal Information from You through the Website when You visit and / or use the Website. Such information may be stored in server logs. This Non-Personal Information would not assist Purnpay to identify You personally.
   2. This Non-Personal Information may include:

      (i) Your geographic location;

      (ii) details of Your telecom service provider or internet service provider;

      (iii) the type of browser (Internet Explorer, Firefox, Opera, Google Chrome etc.);

      (iv) information about Your device, including Your hardware model, operating system and version, device name, device applications, unique device identifier, mobile network information, the Website You last visited before visiting the Website and information about the device's interaction with our Services; or

      (v) clickstream data relating to Your activity on the Website, including but not limited to the duration of Your stay on the Website, date and time of Your access of the Website.

      (vi) List of Installed Applications in your mobile phone for fraud detection and to offer personalised financial products.

   3. Non-Personal Information is collected through various ways such through as the use of cookies. Purnpay may store temporary or permanent ‘cookies’ on Your computer. You can erase or choose to block these cookies from Your computer. You can configure Your computer’s browser to alert You when We attempt to send You a cookie with an option to accept or refuse the cookie. If You have turned cookies off, You may be prevented from using certain features of the Website;
   4. Advertisements: Purnpay may use Third Party Service Providers to serve advertisements on behalf of Purnpay across the internet and sometimes on the Website. They may collect Non-Personal Information about Your visits to the Website, and Your interaction with Our products and services on the Website.

   Please do note that Personal Information, Sensitive Personal Information and NonPersonal Information may be treated differently as per this Privacy Policy.

6. Representations and Warranties

   You hereby represent to Purnpay that, at all times during Your registration with Us:

   1. the information You provide to Purnpay is and shall be authentic, correct, current and updated, and that You have all the rights, permissions and consents as may be required to provide such information (including Information pertaining to any third parties) to the Purnpay; and
   2. Your providing the information to Purnpay and the consequent storage, collection, usage, transfer, access or processing of the same by Purnpay shall not be in violation of any third party agreement, laws, charter documents, judgments, orders and decrees.

   The officers, directors, contractors or agents of Purnpay shall not be responsible for the authenticity of the information that You or any other user provide to any of Purnpay.

7. Purpose of collecting, using, storing and processing Your Personal Information/Non-Personal Information/Sensitive Personal Information
   1. Purnpay reserves the right to collect, use, store, process and disclose Your Personal Information/Non-Personal Information/Sensitive Personal Information for any purpose that may be permissible based on the consent obtained from You. Purnpay uses Personal Information/Non-Perosnal Information/Sensitive Personal Information that is collected for lawful purposes associated with the functions and activities of Purnpay, while also respecting your privacy. Such purposes (“Purposes”) include but are not limited to:

      (i) facilitating Your use of the Website or other services of Purnpay;

      (ii) responding to Your inquiries or fulfilling Your requests for information about the various products and services offered on the Website;

      (iii) providing You with information about products and services available on the Website and sending You information, materials, and offers about products and services of Purnpay;

      (iv) sending You important information regarding the Website, changes in terms and conditions, user agreements, and policies and/or other administrative information;

      (v) sending You surveys and marketing communications that Purnpay believe may be of interest to You;

      (vi) personalizing Your experience on the Website by presenting advertisements, products and offers tailored to Your preferences;

      (vii) helping You address Your problems incurred on the Website including addressing any technical problems;

      (viii) if You purchase any product or avail any service from the Website, completing and fulfilling Your purchase. For example, having Your payments processed, communicating with You regarding Your purchase, and providing You with related customer service;

      (ix) properly administering the Website;

      (x) conducting internal reviews and data analysis for the Website (e.g., to determine the number of visitors to specific pages within the Website);

      (xi) improving the services, content and advertising on the Website;

      (xii) facilitating various programmes and initiatives launched by Purnpay by itself or through a collaboration with Third Party Service Providers or Banks;

      (xiii) analysing how Our services are used, to measure the effectiveness of advertisements, to facilitate payments;

      (xiv) conducting academic research and surveys;

      (xv) protecting the integrity of the Website;

      (xvi) responding to legal, judicial, quasi-judicial process and providing information on law enforcement agencies or in connection with an investigation on matters related to public safety, as permitted by law;

      (xvii) conducting analytical studies on various aspects including user behaviour, user preferences etc.;

      (xviii) permitting third parties who may need to contact users who have bought products from the Website to facilitate installation, service and any other product related support;

      (xix) implementing information security practices;

      (xx) determining any security breaches, computer contaminant or computer virus;

      (xxi) investigating, preventing, or taking action regarding illegal activities and suspected fraud;

      (xxii) undertaking forensics of the concerned computer resource as a part of investigation or internal audit;

      (xxiii) facilitating payments/repayments for the use of the Website or other any other Purnpay services ;

      (xxiv) tracing computer resources or any person who may have contravened, or is suspected of having or being likely to contravene, any provision of law including the Information Technology Act, 2000 that is likely to have an adverse impact on the services provided on any Website or by Purnpay;

      (xxv) enabling a potential buyer or investor to evaluate the business of Purnpay; or

      (xxvi) sharing, disclosing or transfer of such data in the event of any merger, acquisition, reorganization or sale of assets or business of Purnpay to a third party or in the event of bankruptcy of Purnpay

   You hereby agree and acknowledge that the Personal Information/Non-Personal Information/Sensitive Personal Information so collected is for a lawful purpose, connected with a function or activity of Purnpay or any person on their respective behalf, and the collection of Personal Information/Non-Personal Information/Sensitive Personal Information is necessary for the Purposes.

8. Storage and Processing of Your Personal Information/Non-Personal Personal Information
   1. Your Personal Information/Non-Personal Information/Sensitive Personal Information will primarily be stored in electronic form. However, certain data may also be stored in physical form.
   2. We may store, collect, process and use Your data only within the Republic of India to the extent permissible under applicable laws
   3. We may enter into agreements with third parties (Within India) to store or process Your Personal Information/Non-Personal Information/Sensitive Personal Information. These third parties may have their own security standards to safeguard Your Personal Information/Non-Personal Information/Sensitive Personal Information and We will, on commercially reasonable basis, require such third parties to adopt reasonable security standards to safeguard Your I Personal Information/Non-Personal Information/Sensitive Personal Information, as per the requirements of applicable laws.
   4. Sharing and disclosure of Your Personal Information/Non-Personal Information/Sensitive Personal Information You hereby unconditionally agree and permit that Purnpay may transfer, share, disclose or part with all or any of Your Personal Information/Non-Personal Information/Sensitive Personal Information, within the Republic of India to Purnpay, Third Party Service Providers / Partners / Banks and Financial Institutions for one or more of the Purposes, government agencies upon directions of such agency, or to any other third party as may be required under applicable law. In case of any Personal Information/Sensitive Personal Information so transferred, shared, disclosed or parted with, We will contractually oblige the receiving parties of the information to ensure the same level of data protection adopted by Purnpay is adhered to by the receiving party.
   5. You acknowledge and agree that, to the extent permissible under applicable laws, it is adequate that when Purnpay transfer Your information to any other entity within India, Purnpay will place contractual obligations on the transferee which will oblige the transferee to adhere to the provisions of this Privacy Policy.
   6. Purnpay may transfer/disclose/share Non-Personal Information to third parties who support Our business, such as providing technical infrastructure services, analysing how Our services are used, measuring the effectiveness of advertisements, providing customer / buyer services, facilitating payments, or conducting academic research and surveys. Such transferees shall adhere to confidentiality obligations consistent with this Privacy Policy.
   7. Notwithstanding the above, We use other third parties such as a credit/debit card processing companies, payment gateways, pre-paid cards etc. to enable You to make payments for buying products or availing services on the Website. When You sign up for these services, You may have the ability to save Your card details for future reference and faster future payments. In such case, We may share or disclose Your relevant Personal Information/ as necessary for the third parties to provide such services, including Your name, residence and email address. The processing of payments or authorization is solely in accordance with these third parties’ policies, terms and conditions and We are not in any manner responsible or liable to You or any third party for any delay or failure at their end in processing the payments.
   8. Purnpay may also share Personal Information/Sensitive Personal Information with such third parties to whom Purnpay believes it is necessary to do so in order to investigate, prevent, or take action regarding illegal activities, suspected fraud, situations involving potential threats to the physical safety of any person, violations of various terms and conditions or Our policies.
   9. We reserve the right to disclose Your Personal Information/Non-Personal Information/Sensitive Personal Information when required to do so by law or regulation, or under any legal obligation or order under law or in response to a request from a law enforcement or governmental agency or judicial, quasi-judicial or any other statutory or constitutional authority or to establish or exercise Our legal rights or defend against legal claims.
   10. You further agree that such disclosure, sharing and transfer of Your Personal Information/Non-Personal Information/Sensitive Personal Information shall not cause any wrongful loss to You or to any third party, or any wrongful gain to Us or to any third party.
9. Links to third party websites
   1. Links to third-party advertisements, third-party websites or any third party electronic communication service may be provided on the Website which are operated by third parties and are not controlled by, or affiliated to, or associated with, Purnpay unless expressly specified on the Website.
   2. Purnpay are not responsible for any form of transmission, whatsoever, received by You from any third party website. Accordingly, Purnpay does not make any representations concerning the privacy practices or policies of such third parties or terms of use of such third party websites, nor does Purnpay control or guarantee the accuracy, integrity, or quality of the information, data, text, software, music, sound, photographs, graphics, videos, messages or other materials available on such third party websites. The inclusion or exclusion does not imply any endorsement by Purnpay of the third party websites, the website's provider, or the information on the third party website. The information provided by You to such third party websites shall be governed in accordance with the privacy policies of such third party websites, and it is recommended that You review the privacy policy of such third party websites prior to using such websites.
10. Security & Retention
    1. The security of Your Personal Information/Sensitive Personal Information is important to us. Purnpay strive to ensure the security of Your Personal Information/Sensitive Personal Information and to protect Your Personal Information/Sensitive Personal Information against unauthorized access or unauthorized alteration, disclosure or destruction. For this purpose, Purnpay adopts internal reviews of the data collection, storage and processing practices and security measures, including appropriate encryption and physical security measures to guard against unauthorized access to systems where Purnpay stores Your Personal Information/Sensitive Personal Information. Purnpay shall adopt reasonable security practices and procedures as mandated under applicable laws for the protection of Your Personal Information/Sensitive Personal Information. Provided that, Your right to claim damages shall be limited to the right to claim only statutory damages under Information Technology Act, 2000, and You hereby waive and release all Purnpay from any claim of damages under contract or under tort, to the extent permissible under applicable laws.
    2. If You choose a payment gateway to complete any transaction on the Website, then Your credit card/debit card data may be stored in compliance with industry standards/ recommended data security standards for security of financial information such as the Payment Card Industry Data Security Standard.
    3. Purnpay may share Your Personal Information/Non-Personal Information with third parties under a confidentiality agreement which inter alia provides that such third parties shall not disclose the Personal Information/Non-Personal Information further unless such disclosure is for the Purpose. However, Purnpay is not responsible for any breach of security or for any actions of any third parties that receive Your Personal Information/Non-Personal Information. Purnpay is not liable for any loss or injury caused to You as a result of You providing Your Personal Information/Non-Personal Information to any third party (including any third party websites, even if links to such third party websites are provided on the Website).
    4. Notwithstanding anything contained in this Policy or elsewhere, to the extent permissible under applicable laws, Purnpay shall not be held responsible for any loss, damage or misuse of Your Personal Information/Non-Personal Information/Sensitive Personal Information, if such loss, damage or misuse is attributable to a Force Majeure Event (as defined below).
    5. A Force Majeure Event shall mean any event that is beyond the reasonable control of Purnpay and shall include, without limitation, sabotage, fire, flood, explosion, acts of God, civil commotion, strikes or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, unauthorised access to computer, computer system or computer network, computer crashes, breach of security and encryption (provided beyond reasonable control of Purnpay), power or electricity failure or unavailability of adequate power or electricity.
    6. While We will endeavour to take all reasonable and appropriate steps to keep secure any Personal Information/Non-Personal Information/Sensitive Personal Information which We hold about You and prevent unauthorized access, You acknowledge that the internet or computer networks are not fully secure and that We cannot provide any absolute assurance regarding the security of Your Personal Information/Non-Personal Information/Sensitive Personal Information.
    7. You agree that all Sensitive Personal Information shall be retained till such time required for the Purpose or required under applicable law, whichever is later. Personal Information/Non-Personal Information will be retained indefinitely.
11. Deletion of Purnpay account
    1. On receipt of account deletion request, Purnpay will delete your data and immediately stop collecting, storing, and using your personal information and other data, except as otherwise required by applicable laws and regulations or industry standards. For example, Purnpay will retain your transaction related details and corresponding data for compliance purposes as per RBI, PMLA and PPI Act & Guidelines respectively, for up-to Ten (10) years.
    2. Legal Consequences of Account Deletion

       Once the account is deleted, all related contractual relationships between you and Purnpay are terminated. The consequences of account deletion include but are not limited to the following:

       1. You will not be able to use/access this account to log in (signing in) to the Purnpay website, app, with your previous login credentials.
       2. You will not be able to perform any operations that require the account access.
       3. You will not be able to retrieve the personal information, transaction records, business data, and historical information under the account.
       4. You will not be able to use Purnpay services.
       5. If you wish to create an account with the same mobile number and/or email id, through which you had raised your account deletion request. In such case, Purnpay shall consider and register you on its platform as new customer.
    3. Not with standing contrary to the above, the deletion of your account does not mean that all your account operations and responsibilities before your account deletion are exempted or mitigated.
    4. Customer can raise the Deletion request at care@Purnpay.com and the same shall be completed within a period of 90 days from the Date on which the request is received.
12. Indemnity

    You shall indemnify and hold harmless Purnpay, its officers, directors, contractors or agents and any third parties relying on the Information provided by You for any losses, including all claims, damages, liabilities, deficiencies, assessments, interest, awards, settlements, penalties, fines, costs or expenses, suffered, incurred, sustained by, or imposed on Purnpay, as a result of, arising out of, with respect to, in connection with or by reason of a breach or non-performance of any of the terms, conditions, representations, warranties or covenants contained in this Privacy Policy by You.

13. User discretion and opt out
    1. You agree and acknowledge that You are providing Your Personal Information/Non Personal Information/Sensitive Personal Information out of Your own free will. You have an option not to provide or permit Purnpay to collect Your Personal Information/Non Personal Information/Sensitive Personal Information or later on withdraw Your consent with respect to such Personal Information/Non-Personal Information/Sensitive Personal Information so provided herein, in writing, by sending an email to the grievance officer, details of whom are set out in clause 14 of this Privacy Policy, or to such other electronic address of the respective Purnpay as may be notified to You. In such case, You should neither visit the Website nor use any services provided by Purnpay nor shall contact Purnpay. Further, Purnpay may not deliver products to You, upon Your order, or Purnpay may deny You access from using certain services offered on the Website. Purnpay also reserves the right to store and not delete the data that is required for its operations to provide You with continuous usage of its services.
    2. You can review, add or update Your Personal Information/Senstive Personal Information on a regular basis. Any Personal Information/Sensitive Personal Information found to be inaccurate or deficient, can be amended or corrected by You, as feasible. However, We will not be responsible for the authenticity of the Personal Information/Sensitive Personal Information provided by You to Us or to any other entity acting on behalf of Us. Kindly note that Purnpay shall retain Your previous Personal Information/Sensitive Personal Information in its records, as required under applicable law.
14. Grievance Officer
    1. If You find any discrepancies or have any grievances in relation to the collection, storage, use, disclosure and transfer of Your Personal Information/Sensitive Personal Information under this Privacy Policy or any terms of the terms of use of Purnpay, and other terms and conditions or policies of any Purnpay, please contact the following personnel:
       Mr. Nemash Simaria, the designated grievance officer
       Phone: 01246634800
       E-mail: grievanceofficer@Purnpay.com
       Working Days: Monday to Friday
       Working Hours: 9:30 am to 6:30 pm
    2. For loans: Mr. Soumitra Roy, Nodal Officer Axis Bank LTD. NPC1, 5th Floor “Gigaplex”, Plot No .I.T.5, MIDC Airoli Knowledge Park, Airoli, Navi Mumbai – 400708

       Email: nodal.officer@axisbank.com

       Call: 080-61865200 Timings: 9.30 am to 5.30 pm Monday to Saturday (except 2nd and 4th Saturdays and bank holidays)

    3. We will strive to address Your feedback and concerns in a timely and effective manner. The details of the grievance officer may be changed by Us from time to time by updating this Privacy Policy.
15. Business / Assets Sale or Transfers
    

    By accepting this Privacy Policy, you hereby agree that, in the event of a merger, acquisition, reorganization or sale of assets or business of Purnpay to a third party or in the event of bankruptcy of Purnpay, Purnpay may transfer or otherwise share some or all of its assets, including Your Personal Information/Non-Personal Information/Sensitive Personal Information to such third party. Should such a sale or transfer occur, Purnpay will reasonably ensure that the Personal Information/Non-Personal Information/Sensitive Personal Information You have provided and which We have collected is stored and used by the transferee in a manner that is consistent with this Privacy Policy and with applicable laws. Any third party to which Purnpay transfer or sell as aforesaid will have the right to continue to use the Personal Information/Non Personal Information/Sensitive Personal Information that You provide to Us or collected by Us immediately prior to such transfer or sale for the Purposes.

16. Further Acknowledgements

    You hereby acknowledge and agree that this Privacy Policy:

    1. is clear and easily accessible and provide statements of policies and practices Purnpay with respect to Personal Information/Non-Personal Information/Sensitive Personal Information ;
    2. provides for the various types of Personal Information/Non-Personal Information/Sensitive Personal Information to be collected;
    3. provides for the purposes of collection and usage of the Personal Information/Non Personal Information/Sensitive Personal Information;
    4. provides for disclosure of Personal Information/Non-Personal Information/Sensitive Personal Information; and
    5. provides for reasonable security practices and procedures as per the applicable laws, rules and regulations for the time being in force.
17. Definitions
    1. “Third Party Service Providers” or “Partners” shall mean any third party entity with which any of Purnpay has a contractual arrangement for providing any kind of services to the respective Purnpay; and
    2. “Banks” shall mean various banks, financial institutions, payment system providers who are licensed by the Reserve Bank of India and with whom any of the Purnpay has entered into an agreement

Last Updated on 15th May, 2025

This privacy policy is a legally binding document between you and Purnpay. The terms of this privacy policy will be effective upon your accessing any digital loan/digital lending product available on the “website” (website/mobile site/mobile application) of Purnpay and will govern the relationship between you and Purnpay for your use of the website. This document is published and shall be construed in accordance with the provisions of the Information Technology (Reasonable Security Practices And Procedures And Sensitive Personal Data Or Information) Rules, 2011 under the Information Technology Act, 2000; the Digital Lending Guidelines as published and updated by the RBI from time-to-time, and other applicable regulations.

This privacy policy shall be read together with the respective terms of use or other terms and conditions of Purnpay, including the general Privacy Policy which can be found on our website here: /termsandconditions. This privacy policy shall be applicable to customers availing digital lending services from Purnpay. However, if you use any other services provided by us, the general Privacy Policy shall apply. We will ensure that the Personal Information collected from you when you avail our other services will not be used for any of the digital lending services we provide without your explicit consent.

This privacy policy describes how your data and ‘Personal Information’ is used for facilitating loan products offered by our lending partners on the Purnpay website.

This policy may be amended / updated from time to time. We will notify you of any amendment of, or update to, the policy; as required under applicable laws.

In this policy, Personal Information shall mean any information that relates to a person; which can be used by itself to uniquely identify, contact, or locate a person, or can be used with information available from other sources to uniquely identify an individual.

Purnpay intends for this Privacy Policy to help you understand the following:

1. What Personal Information is collected from you when you avail loan products?
2. What do we do with the Personal Information we collect?
3. How do we secure your Personal Information?
4. What control can you exercise over the Personal Information we collect?
5. How long do we store the Personal Information collected?
6. How can you contact us for any Grievances you may have?

Purnpay follows a data collection approach that is strictly need-based, gathering information only when necessary, and only when you have given explicit consent for the same.

What Personal Information is collected from you when you avail loan products?

To facilitate your use of loan products, we may collect the following:

• Personal Details: Full name, date of birth, gender, email ID, mobile number, PAN Number, marital status, father's & mother's name, current and permanent address.
• Employment & Income details: Employment/ profession type, employer/ company name, industry, registration type, individual & household income, office address.
• Bank Details: Bank account number, IFSC code, Bank name,
• Information obtained from your mobile device by way of using our app like device information (including storage, model, mobile network, apps installed) but excluding phonebook, call logs, contacts and photos/media.
• In addition, we may also request one-time access to certain features of your mobile phone like camera, microphone, location or any other facility, necessary for the purposes of credit assessment/on-boarding/KYC performed by lending partners. We do not collect or store any biometric data.

What do we do with the Personal Information we collect?

Any Personal Information we get from you is stored only in servers located within India, and will only be used for limited purposes. These limited purposes may include (non-exhaustively):

• Facilitation of your loan application from our lending partners
• Compliance with laws or orders from regulators, courts, or other authorized bodies
• Maintenance and administration of our website
• Improving our marketing to provide you with customized offerings and deals, etc.
• Maintain and improve our products and services
• To send communication, through SMS, Voice Call, IVR, WhatsApp or any third-party messaging platform, in relation to your use of the Platform or Services, or to address any grievances raised by you.
• To undertake research and analytics for mitigating frauds.

No Personal Information will be shared with any third party unless you have given explicit consent to us for the same, except for cases where such sharing is required as per statutory or regulatory requirements. We will share the information collected with third parties and our business associates for the purpose of availing technology services and promotional/business communication. A list of all third parties we share your Personal Information with (as per your explicit consent), is provided below:

• Karza Technologies Private Limited
• TSS Consultancy Private Limited
• Karix Mobile Private Limited
• MattsenKumar Services Pvt. Ltd.
• Gupshup Technology India Pvt Ltd.
• ValueFirst Digital Media Pvt Ltd.
• Bureau ID India Pvt Ltd
• Vansun Operations Private Limited
• SAN Softwares Private Limited
• Experian Credit Information Company of India Private Limited

How do we secure your Personal Information?

Your Personal Information is safe with us. We have implemented robust and industry-standard procedures, in accordance with applicable laws, to safeguard Personal Information and uphold security. It remains your responsibility to protect the security of your login details. Our servers are situated within secure environments, reinforced by firewalls and advanced security technologies, which effectively deter unauthorized interference or external access. These measures are in place to prevent unauthorized access, maintain data accuracy, and ensure appropriate data usage. Despite the reasonable security measures applied across all our digital platforms and internet connections, it is essential to acknowledge that security risks beyond our control, such as hacking, virus dissemination, force majeure events, breaches of firewall, and secure server software, may still pose potential threats. In the improbable incident of a data breach; Purnpay will take necessary and appropriate steps to mitigate the damage and to safeguard our user’s data. Further, reporting of such incident shall be done as per the requirement of applicable laws.

While the information is shared with third parties as per purposes set out in this Policy, processing of your Personal Information is governed by their policies. Purnpay ensures stricter or no less stringent privacy protection obligations are cast on these third-parties, wherever applicable and to the extent possible. Purnpay may also share Personal Information with third-parties such as legally recognized authorities, regulatory bodies, governmental authorities, and financial institutions as per purposes set out in this Policy or as per applicable laws. In the event you suspect that your personal information has/may have been compromised, you may reach out to our grievance officer and inform him/her of the same. Purnpay will take reasonable measure to redress the user’s above grievance.

What control can you exercise over the Personal Information we collect?

You will be able to contact the Grievance Redressal Officer (details provided below) if you wish to revoke consent already granted for use of any data or for collection of personal data, restrict disclosure to third parties, or if you wish for all your data to be removed from our custody (Please note that some data may still be retained in order to comply with applicable laws and regulations). You can raise the deletion request at care@Purnpay.com and the same shall be completed within a period of 90 days from the date on which the request is received.

How long do we store the Personal Information collected?

Your information will be stored and retained by us for a period of 7 years, or until necessary to fulfil the stated purpose(s) at the time of collection. The aforementioned duration of seven years will be computed either from the moment your account is terminated or from the most recent instance of accessing our services, whichever occurs later. Further, upon any request by you for deletion, we will proceed to remove your Personal Information, unless you have an ongoing loan or active service with us, or if the retention of your Personal Information is mandated by relevant laws or regulatory obligations.

Details of Lending Partners/ Service Providers

Links to the website of our lending partners for further/detailed information about the loan products, the lender, the LSP (Us), particulars of customer care, link to Sachet Portal, privacy policies, etc. are provided below.

How can you contact us for any Grievances you may have?

If you find any discrepancies or have any grievances in relation to the collection, storage, use, disclosure and transfer of your data under this policy, any of the terms and conditions, or other policies of Purnpay, please contact the following personnel:

Mr. Nemash Simaria,

Designated grievance officer

Phone: 9773840200

E-mail: grievanceofficer@Purnpay.com

Working Days: Monday to Friday

Working Hours: 9:30 am to 6:30 pm

We will strive to address your feedback and concerns in a timely and effective manner. The details of the grievance officer may be changed by us from time to time by updating this policy.

Grievance Redressal for Axis Bank

Personal loan customers can connect to the bank through calls, email or by visiting branch/loan centres. Axis bank has set a maximum 10 days response time period and if the concerned customer is dissatisfied with the response received, he/she can escalate the complaint to Level 2.

• Level 1 - Front End Channels
1. Contact number: 1860-419-5555/1860-500-5555
2. Complaint Registration
3. Branches/Loan Centres: Customers can visit the “Locate Us” section of the website (www.axisbank.com) to get the details of the nearest branch or loan centre


• Level 2 - Circle Nodal Officer/Nodal Officer at HO

The concerned customer can communicate with Nodal officers of the bank if he/she is not satisfied with the solution provided at Level 1. The bank claims to reply within 10 days and if the response received is unsatisfactory, he/she can escalate the matter to Level 3.

The customer can send an email/write a letter/call the Nodal Officer:

Write to	Email	Call
Mr. Ashish Rajput Assistant Vice President Nodal Officer Axis Bank LTD. NPC1, 5th Floor, “Gigaplex”, Plot No .I.T.5, MIDC Airoli Knowledge Park, Airoli, Navi Mumbai – 400708	nodal.officer@axisbank.com	Ph. 91-080-61865200 9.30 AM to 5.30 PM Monday to Saturday (except 2nd and 4th Saturdays and bank holidays)



• Level 3 – Principal Nodal Officer

If the concerned customer still feels dissatisfied with the solution provided at Level 2, he/she can connect with the bank’s Principal Nodal Officer using the below-mentioned channels.

Write to	Email	Call
Ms. Deepti Radkar Senior Vice President – II Axis Bank Limited, NPC1, 5th Floor, Gigaplex, Plot no I.T.5, MIDC, Airoli Knowledge Park. Airoli, Navi Mumbai - 400708	pno@axisbank.com	Ph. 91-080-61865098 9.30 AM to 5.30 PM Monday to Saturday (except 2nd and 4th Saturdays and bank holidays)

Disclaimers

Our website may display links to third party websites/applications that we cannot control and we are not responsible for their activities.

We utilize cookies to enhance the services we provide, and to offer a personalized user experience. Cookies are files sent from a web server and stored on your computer's hard drive, serving to identify unique visitors and provide personalization. If you prefer not to receive cookies, you have the option to disable them on your browser.

Last Updated on 24th May, 2025

These Terms of Use, read with the Privacy Policy, are an electronic record under the Information Technology Act, 2000, and the rules made thereunder and the amended provisions pertaining to electronic records under various statutes as amended by the Information Technology Act, 2000 and is enforceable against You (as defined hereinafter) under law by way of Your acceptance hereof. This document is published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy and user agreement for access or usage of domain name www.Purnpay.com (“Website”), including the related mobile site, domains, and mobile application (hereinafter collectively referred to as “Platform”).

Your use of the Platform and services provided through the Platform (“Services”) are governed by the following terms and conditions ("Terms of Use") including any terms and policies which are incorporated herein by way of reference along with any amendments / modifications made by Purnpay at its sole discretion and posted on the Website, including by way of imposing an additional charge for access to or use of the Services. These Terms of Use are a binding legal agreement between You and Purnpay (both terms defined below) and come into effect when You register for a Purnpay Account or upon Your usage of the Platform and/or any Services.

For the purpose of these Terms of Use, wherever the context so requires "You" (with the term “Your” or “Yourself” being construed accordingly) or "User" shall mean any natural or legal person who registers for creation of an account with Purnpay (“Purnpay Account” or “Account”) or surfs the Platform or makes any transactions without registering on the Platform. Unless explicitly mentioned hereunder, the term “Purnpay”, "We", "Us", "Our" shall mean Purnpay Payment Technologies Private Limited, a company registered under the Companies Act, 2013, having its registered address at 11^th Floor, Tower C, DLF Cyber Greens, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122022, and principal office at 11^th Floor, DLF Cyber Greens, Tower C, DLF Cyber City, DLF Phase 2, Gurugram- 122002.

Our Services are very diverse and additional terms or product requirements shall apply to certain Services. These Terms of Use are in addition to and not in derogation with terms and conditions of any other Service provided by Purnpay either individually or by affiliates of Purnpay (“Affiliates”) or by third parties. Thus, when You use any of the Services provided by Us through the Platform, You will be subject to the rules, guidelines, policies, terms, and conditions applicable to such Services, and they shall be deemed to be incorporated into these Terms of Use and shall be considered as part of these Terms of Use. If there is a conflict between these Terms of Use and the additional terms, the additional terms will supersede these Terms of Use.

Please read these Terms of Use carefully before You use the Platform and/or any Services. We reserve the right, at Our sole discretion, to change, modify, add, or remove portions of these Terms of Use, at any time without any prior written notice to You. It is Your responsibility to review these Terms of Use periodically for updates / changes. Your continued use of the Platform following the posting of changes will mean that You accept and agree to the revisions. As long as You comply with these Terms of Use, We grant You a personal, non-exclusive, non-transferable, limited privilege to enter and use the Platform.

1. Eligibility: The Platform and/or the Services should only be used or accessed by persons who are competent to enter into a legally binding contract under the Indian Contract, 1872. If You are a minor (i.e. You are under the age of 18 years), You may use the Platform or Services only with the involvement of Your parent or guardian. Additionally, by agreeing to these Terms of Use, You represent that You are an Indian resident and have a valid and subsisting right, authority and capacity to enter into these Terms of Use and to abide by all of the terms and conditions contained herein. You also undertake that You are not impersonating any person or entity, or falsely stating or otherwise misrepresenting identity, age or affiliation with any person or entity. Purnpay reserve the right to terminate Your account and / or refuse to provide You with access to the Platform if it is brought to Our notice or if it is discovered that You do not qualify the eligibility criteria provided herein.
2. Registration and Your Purnpay Account:
   1. You agree and understand that You are responsible for maintaining the confidentiality of the Account information i.e., Your password which, together with Your e-mail address (“User ID”), allows You to access the Platform. This User ID and password, together with any mobile number or other information You provide form Your "Registration Information." You agree to:

      i. provide only current, accurate and complete information about Yourself in the course of registering to use the Services and

      ii. maintain and promptly update the Registration Information, as necessary, to keep it true, accurate, current, and complete at all times. If You provide any information that is untrue, inaccurate, not current, or incomplete, or there are grounds to suspect that such information is untrue, inaccurate, not current, or incomplete, we may suspend or terminate Your Account and refuse any and all current or future use of the Services (or any portion thereof) and You will not have any cause of action against Us for such suspension or termination of Your Account. You agree that Purnpay shall not be liable or responsible for the activities or consequences of use or misuse of any information that occurs under Your Purnpay Account in cases, including, where You have failed to update Your Registration Information including Your revised mobile phone number and/or e-mail address on the Platform.

   2. If You share or allow others to have access to Your Purnpay Account, by creating separate profiles under Your Account, or otherwise, they will be able to view and access Your Account information. You shall be solely liable and responsible for all the activities undertaken under Your Account, and any consequences therefrom. You may be held liable for losses incurred by Purnpay or any other User of or visitor to the Platform due to authorized or unauthorized use of Your Purnpay Account as a result of Your failure in keeping Your Account information secure and confidential or otherwise.
   3. All information and instructions received from Your Purnpay Account will be deemed to have been authorized by You and the recipients of this information shall rely on its authenticity based on the use of Your password. You will be responsible for all actions taken by anyone accessing the services using Your username and password/one time password (OTP).
   4. In the event of any dispute between two or more parties as to ownership of a particular Purnpay Account, You agree that Purnpay will be the arbitrator of such dispute. Purnpay’s decision (which may include termination or suspension of any account subject to dispute) will be final and binding on all parties.
3. Verification of Information: You understand that when You access or use the Platform or Services, We may share some or all of the information You provide with the third parties and other statutory, regulatory, and governmental authorities. By accepting these Terms of Use, You authorize Purnpay to request for supplemental documentation at any time (before or after Your Purnpay Account has been activated), in order to verify Your identity, and the accuracy of the information provided. If We cannot verify that the Registration Information is accurate and complete, We may deny Your use of the Platform and Services, or close Your Purnpay Account at any time.
4. Ownership: You acknowledge and agree that the Platform, the Services, including without limitation any content available on the Platform and all trademarks, service marks and trade names and other intellectual property rights associated therewith are, and will remain, the property of Purnpay and its licensors, as applicable. All content related to Purnpay’s corporate and business activities, whether embedded in the Platform or otherwise, including any text, graphics, logos, button icons, images, audio clips and software, is the exclusive property of Purnpay or its licensors and is protected by applicable laws. The compilation (meaning the collection, arrangement, and assembly) of any and all content on the Platform and Services is also the exclusive property of the Purnpay and is protected by applicable laws.
   All software used on the Platform and the Services is the property of Purnpay or its licensors / software suppliers and protected by Indian and international copyright laws. Any use except as specifically permitted under these Terms of Use, including the reproduction, modification, distribution, transmission, republication, display, or performance, of the content on the Platform or the Services is strictly prohibited. All graphics, logos and service names are trademarks of Purnpay or its affiliates. Our trademarks should not be used in connection with any product or service without obtaining authorization from Purnpay, in any manner that is likely to cause confusion among Our customers, or in any manner that disparages or discredits Purnpay. The logos and trademarks of third parties on the Platform belong to respective third parties / brands.
5. License and Restrictions:
   1. Subject to these Terms of Use, Purnpay grants You a limited, personal, non-assignable, non-transferable, nonexclusive, revocable, and non-sublicensable license to use and/or access the Platform and Services for such legitimate purposes that the Platform and Services intend to serve. You will be entitled to download and use any updates that We may make to the Platform and Services, subject to any additional terms, Weas and when these updates available. The license granted herein is revocable at any time and will continue until such time, when You cease to use or access the Platform and/or Services or Your use or access to the Platform and/or Services is terminated by Us.
   2. You may not, nor may You permit any third party, directly or indirectly, to:

      i. access or monitor any material or information on the Platform or Services or any associated system using any manual process or robot, spider, scraper, or other automated means;

      ii. work around, bypass, or circumvent any of the technical limitations of the Platform or Services, use any tool to enable features or functionalities that are otherwise disabled in the Platform or Services, or decompile, disassemble, or otherwise reverse engineer the Platform or Services or otherwise exploit them for any commercial purpose;

      iii. perform or attempt to perform any actions that would interfere with the proper working of the Platform or Services, prevent access to or use of the Services by Our other customers, or impose an unreasonable or disproportionately large load on Our infrastructure;

      iv. copy, reproduce, alter, modify, create derivative works, publicly display, republish, upload, post, transmit, resell, or distribute in any way material, information, or Services;

      v. post or transmit any file which contains viruses, worms, trojan horses or any other contaminating or destructive features, or that otherwise interfere with the proper working of the services;

      vi. use and benefit from the Platform and Services via a rental, lease, timesharing, or other arrangement;

      vii. downloading (other than page caching) of any portion of the services or any information contained therein, except as expressly permitted by Us

      viii. transfer any rights granted to You under these Terms of Use;

      ix. use the Platform and Services for the sale of firearms, firearm parts, ammunition, weapons, or other devices designed to cause physical harm;

      x. use the Platform and Services for any illegal activity or goods or in any way that exposes You, other users, Our partners, or Purnpay to harm; or

      xi. otherwise use the Platform or Services except as expressly allowed under these Terms of Use.

      If We reasonably suspect that Your Purnpay Account has been used for an unauthorized, illegal, or criminal purpose, We may terminate or suspend Your Purnpay Account. Additionally, You give Us express authorization to share information about You, Your Purnpay Account, and any of Your transactions with law enforcement bodies and officials.

   3. Compatible Mobile Devices and Third-Party Carriers: We do not warrant that the Platform and/or Services will be compatible with Your mobile device or carrier. Your use of the Platform and/or Services may be subject to the terms of Your agreements with Your mobile device manufacturer or Your telecom carrier. You may not use a modified device to use the Services if the modification is contrary to the device manufacturer's software or hardware guidelines, including disabling hardware or software controls-sometimes referred to as ‘jail broken’.
6. Privacy Policy: Please read Our Privacy Policy to understand Our practices which governs Your use of the Platform and Services. Any information (including Your personal information and/or sensitive personal data or information) provided by You on the Platform will be collected, stored, processed, transferred, or shared by Us in accordance with Our Privacy Policy. These Terms of Use are deemed to incorporate the Privacy Policy posted on this Website and accessible/embedded in the mobile application.
7. Your Content: The Services may include functionality for uploading or providing suggestions, recommendations, feedback, photos, documents, and other materials or information ("Content"). You will not host, display, upload, modify, publish, transmit, update or share any Content through the Platform or Services that: (a) belongs to another person and to which the user does not have any right to, (b) is grossly harmful, harassing, blasphemous defamatory, obscene, pornographic, pedophilic, libelous, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever; (c) harm minors in any way; (d) infringes any patent, trademark, copyright or other proprietary rights; (e) violates any law for the time being in force; (f) deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature; (g) impersonate another person; (h) contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource; (i) threatens the unity, integrity, defense, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nation; (j) is false, misleading, unlawful, obscene, indecent, lewd, pornographic, defamatory, libelous, threatening, harassing, hateful, abusive, or inflammatory; (k) encourages conduct that would be considered a criminal offense or gives rise to civil liability; (l) breaches or infringes any rights of any person or entity, including rights of privacy or intellectual property; (m) contains corrupted data or any other harmful, disruptive, or destructive files; (n) in Our sole judgment, is objectionable, or which may expose Purnpay and its Affiliates or its customers to harm or liability of any nature.
8. Single-Sign-On Services: Purnpay offers a Single-Sign-On Service (“SSO Service”) which permit Users to use the login credentials of his/her Purnpay Account to access all web pages and online platforms operated by Purnpay (hereinafter the “Participating Platforms”) with single log-in access / data, without going through a separate registration process every time. The number of Participating Platforms may also vary in the course of time. With regard to the contractual relationships of the Users with the respective Participating Platforms and Services offered thereto, for which the SSO Service can be used in accordance with these Terms of Use, these Participating Platforms and Services may alternatively have their own terms and conditions which shall be available on the respective Participating Platforms. In order to be able to use the SSO Service, You must have a Purnpay Account. You are permitted to set up only one Purnpay Account.
9. In-App Services: Purnpay facilitates purchase of and/or payments with respect to certain Services offered by third parties who have partnered with Purnpay to enable payments with respect to their services to be made through the Platform such as utility payments with respect to prepaid recharges for mobile, postpaid mobile bills, DTH bills, electricity, gas , insurance premiums etc. and payments with respect to third digital products such as electronic gift cards, bus tickets etc. In addition, We provide value added services such as bill presentment, bill reminders, and transaction history for transparency of transactions, etc. (“In-App Services”). By choosing to use In-App Services, You understand that Purnpay nor its Affiliates assumes no liability for the actual deliver of the products and/or services with respect to which payments are being made using the In-App Services. All obligations with respect to the delivery of products and/or services will be solely that of the third party service provider and not of Purnpay. Further, all payments made using In-App Services shall be final. Such transactions cannot be refunded, returned, or cancelled once initiated.

Specific terms and conditions with respect to certain In-App Services are as provided below:

1. Recharge/Bill Payment Services:

   i. Description of Bill Payment Service: Purnpay provides third party payment services that allow You to make payments to certain third party service providers such as telecom recharges, payment of municipal dues, insurance premiums, etc. (“Bill Payment Services”). To be eligible to use the Bill Payment Services, You must be a resident of India. In order to use the Bill Payment Services, You may be required to provide Us with Your account information with billers You would like to make payments to (such as Your customer account number or customer ID) and any information necessary for Us to access Your accounts and bill/plan details with such billers (such as phone number, email address, etc.) ("Bill Payment Account Information"). By using the Bill Payment Services, You expressly authorize Purnpay to store, use and access the Bill Payment Account Information, on Your behalf solely for the purpose of providing the Services to You. As a risk management measure, Purnpay reserves the right not to process transactions which Purnpay in its sole discretion determines to be high risk, suspicious or fraudulent in any manner. You understand and agree that You are responsible for the accuracy of the information You provide with respect to each payment request You make, including the Bill Payment Account Information, telephone number, the amount of the transaction, etc.

   ii. Scheduling Your payments: Payment posting times will vary depending upon the biller You select. When Purnpay receives a payment instruction, You authorize Us to send instructions to payment system providers to debit Your card/ bank account/prepaid account/card and remit payments to billers on Your behalf. Payments are subject to the policies and procedures of billers. We are not liable for processing delays by the biller, nor are We liable if You fail to schedule payment dates in a timely manner.

   iii. Late charges: You are solely responsible for paying any and all late charges and penalties levied by a biller.

   iv. Payment history: Purnpay does not send periodic statements showing Your bill payment history. You may access information about Your bill payment requests using the Platform. You should also confirm Your bill payment requests against any statements or payment records provided by the biller and Your payment source.

   v. Failed Transactions: In case of prepaid payments, if money has been charged to Your card or bank account or pre-paid payment instrument and the service is not delivered by the service provider within 48 hours of the completion of the transaction, You may inform Us regarding the same by sending an email to care@Purnpay.in. or reaching out to us through the Help and Support section. Please include the transaction details such as the biller name, account number/mobile number, payment value, transaction date and order number. Upon investigation if it is found that money has been charged to Your card or bank account or prepaid payment instrument and the service has not been delivered, the transaction amount will be refunded back to source within 21 working days from the date of receipt of Your email.

2. Bharat Bill Payment System:

   i. Description of BBPS Service: The Bharat Bill Payment System service (“BBPS Service(s)”) is provided by Purnpay as an agent institution of Axis Bank Limited ("Axis Bank") and IndiaIdeas.com Limited. In order to avail/use the BBPS Service, You need to select the available biller on the Platform. Display of billers and their availability are subject to their availability/participation on the BBPS platform. Purnpay shall not be liable for any direct, indirect, or consequential loss or damage sustained by You with regard to payment of bills on account of system level error, system failure, stoppage of access, break-down in computer hardware or software systems including any break-down of internet services/breakdown of network arising on account of circumstances not attributable to Purnpay or beyond the control of Purnpay and/or any delay or default on the part of the service providers. On completion of payment, You are requested to note down the transaction reference ID for further grievance redressal, if any.

   ii. To use the BBPS Services, You may be required to provide Us with billing payment account information. By using the BBPS Service, You expressly authorize Purnpay to access, fetch, use and store Your Bill Payment Account Information and bill details on an ongoing basis, on Your behalf for the purpose of providing BBPS Services to You.

   iii. Settlement Cycle: Payments made using the BBPS Service will reach the biller within 3 business days.

   iv. Charges: At present, Purnpay does not levy any charge for using the BBPS Services.

   v. Customer Grievance Redressal Framework: Users may query a transaction, raise a complaint and check the status of such complaint through the BBPS CMS platform by clicking here.

   Alternately, Users may reach out to Purnpay to register a complaint through any of the service touch points given hereunder:

   • Level 1: Customer can raise their grievances/disputes as below:

     i) Chatbot: On Purnpay App - (Profile - Help & Support)

     ii) E-mail: care@Purnpay.com

     iii) For Customer Complaints where a ticket number is generated, the resolution period is 10 Business Days.

     Fraudulent Transaction and Account Block
     24*7 Helpline: 9773579100

   • Level 2: Grievance Officer:

     We aim to resolve all complaints at the first point of contact. In case the customer doesn't get a satisfactory resolution to their query/complaint at Level 1 they can get in touch with the Grievance Officer with the ticket number and details of the grievance. TAT of 5 Business days (excluding time taken by the customer to provide required Information/documentation) for resolution/response.

     Nemash Simaria, the designated grievance officer

     Phone: 9773840200

     Email: grievanceofficer@Purnpay.com

     Working Hours: 9:30 AM to 6:30 PM (Monday-Friday; except bank holidays)

     Postal: Purnpay Payment Technologies Private Limited, DLF Cyber Green, 11^th Floor, Tower-C, DLF Cyber City, DLF Phase-3, Gurugram-Haryana-122002, India

     Registered Office: 11^th Floor, Tower C, DLF Cyber Greens, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122022

     CIN- U74140DL2015PTC275419

     Contact Number: 0124 663 4800

   • Level 3: Nodal Officer:

     In case the grievance remains unresolved even after contacting various complaint resolution channels or in the timelines mentioned above or if the customer is not satisfied with the response, the customer can approach the Nodal Office along with the ticket number. TAT of 5 Business days (excluding time taken by the customer to provide required Information/documentation) for resolution/response.

     Samarth Govila, the designated Nodal officer

     Phone: 9773974200

     Email: nodal.head@Purnpay.com

     Working Hours: 9:30 AM to 6:30 PM (Monday-Friday; except bank holidays)

     Postal: Nodal Officer, Purnpay Payment Technologies Private Limited, DLF Cyber Green, 11^th Floor, Tower-C, DLF Cyber City, DLF Phase-3, Gurugram-Haryana-122022, India

     Registered Office: 11^th Floor, Tower C, DLF Cyber Greens, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122022, India

     Contact Number: 0124 663 4800

   Resolution Time/Turn-Around Time (TAT)

   • Resolution time does not include time taken by the customer to provide required information/documentation.
   • If any case/transaction is related to third party or outside entity, then the TAT will be dependent on the respective banks/network providers/regulator/etc. Resolution time willinclude this TAT along with Purnpay’s internal resolution time.
   • Purnpay will make all efforts to resolve the complaint promptly but in case of any inadvertent situation where additional time is needed, Purnpay will inform the customer the reasons for the delay and provide expected timelines for resolution of the issue.

   Grievance Redressal for Axis Bank

   Personal loan customers can connect to the bank through calls, email or by visiting branch/loan centres. Axis bank has set a 10 days response time period and if the concerned customer is dissatisfied with the response received, he/she can escalate the complaint to Level 2.

   Level 1 - Front End Channels

   1- Contact number: 1860-419-5555/1860-500-5555

   2- Complaint Registration:
   https://application.axisbank.co.in/webforms/axissupport/LogAQuery.aspx?Level=2

   3- Branches/Loan Centres: Customers can visit the “Locate Us” section of the website (www.axisbank.com) to get the details of the nearest branch or loan centre)

   Level 2 - Circle Nodal Officer/Nodal Officer at HO

   The concerned customer can communicate with Nodal officers of the bank if he/she is not satisfied with the solution provided at Level 1. The bank claims to reply within 10 days and if the response received is unsatisfactory, he/she can escalate the matter to Level 3.

   The customer can send an email/write a letter/call the Nodal Officer:

   Write: Mr. Ashok Sunar, Nodal Officer Axis Bank LTD. NPC1, 5th Floor “Gigaplex”, Plot No .I.T.5, MIDC Airoli Knowledge Park, Airoli, Navi Mumbai - 400708

   Email: nodal.officer@axisbank.com

   Call: 080-61865200 Timings: 9.30 am to 5.30 pm Monday to Saturday (except 2nd and 4th Saturdays and bank holidays)

   Level 3 - Principal Nodal Officer

   If the concerned customer still feels dissatisfied with the solution provided at Level 2, he/she can connect with the bank's Principal Nodal Officer using the below-mentioned channels. The bank has a defined turnaround time of 10 days for a response at this level

   Write: Ms. Deepti Radkar, Axis Bank Ltd, NPC1, 5th Floor, "Gigaplex", Plot No I.T.5, MIDC, Airoli Knowledge Park, Airoli, Navi Mumbai-400708

   Email: pno@axisbank.com

   Call: 08061865200, Timings: 9:30 am to 5:30 pm Monday to Saturday (except second and fourth Saturdays and Bank Holidays)

   Final Redressal and Closure of Grievance:

   1. Where the complainant has communicated his acceptance of the company's decision on redressal of grievance communicated by grievance redressal; or

   2. Where the complainant has not communicated his acceptance of the company's decision, within 7 days from the date of communication of decision by Level 1 or Level 2 or Level 3, as the case may be.

   vi. Grievance Closure:

   1. Where the complainant has communicated his acceptance of the company’s decision on redressal of grievance communicated by grievance redressal; or

   2. Where the complainant has not communicated his acceptance of the company’s decision, within 7 days from the date of communication of decision by Level 1 or Level 2, as the case may be.

3. Gift Cards

   i. Description: Purnpay allows You to purchase electronic pre-paid payments instruments (“E-Gift Cards”) of various third parties (“Brands”) through the Platform. These E-Gift Cards are sold by Qwikcilver Solutions Private Limited (“Qwikcilver”). All E-Gift Cards shall be valid for a period as per the terms decided and set out by the respective Brands.

   ii. The E-Gift Cards can be redeemable on the websites and locations set out in the respective Gift Card terms and conditions. Please read the details of and terms and conditions associated with the E-Gift Card carefully before making the purchase.

   iii. You understand and acknowledges that an E-Gift Card purchase by You cannot be exchanged for its value in cash, either in full or in part. You further acknowledge that the value stored/loaded in an E-Gift Card cannot be refunded or transferred in any manner whatsoever. E-Gift Card balance cannot be used to purchase another gift card.

   iv. E-Gift Cards are normally delivered instantly upon purchase, however, sometimes delivery may be delayed due to technical issues. In such cases, You shall normally receive the E-Gift Card within 24 – 48 hours.

   v. In the event of loss or theft of Your E-Gift Card or authentication data or in the event of any fraud/abuse being detected, You can send an email at support @woohoo.in or call Qwikcilver at 08067181401 during business hours (9 am – 11 pm).

4. Rental Payment Services

   i. Description of Rent Payment Services: Purnpay enables You may make payment of house rent (“Rent Payment Services”) to Your landlord/lessor (“Landlord”) through its Platform. Your use of the Rent Payment Services means that You have authorized Purnpay to hold, receive and disburse funds in accordance with Your payment instructions.

   ii. Purnpay shall require the following information to facilitate payment to the Landlord in accordance with Your instructions:

   • Details of the Landlord and their bank account
   • A copy of Your recent and active lease agreement
   • Rental amount to be transferred
   • Rental address
   • Landlord PAN card details (required if the rental amount to be paid exceeds INR 8333/-)

   iii. The payment will be settled to Landlord within three (3) working days of receipt of the funds by Purnpay. You must submit the payment sufficiently in advance to include time for processing and settlement of the payment. It is solely Your responsibility to submit payments timely, so they are received by Your Landlord on or before Your rent payment due date.

   iv. Description of Fees: You understand that You may be charged a fee with respect to Your use of the Rent Payment Services (“Fee”). The amount of the Fee will be displayed to You on the payment page. You agree to pay all such fees and charges as may be applicable and authorize Us to add the Fee to the amount of the payment instruction You provide. Taxes shall be payable by the customer as per applicable laws.

   v. Accuracy of Information: You understand and acknowledge that You are responsible for ensuring the accuracy of the information You provide about each payment instruction made by You, including but not limited to bank account details of the Landlord. Once a payment has been initiated it cannot be reversed and Purnpay will not be liable in any way for any loss You may suffer as a result of a transaction being carried out in accordance with the instructions received by You.

   vi. Our Relationship with You: Except for Our limited role in enabling the payment after receiving specific instructions from You, We are not involved in any underlying transaction between You, the Landlord, or any other customer. We are not an agent of the Landlord or any other registered customer of Purnpay.

   You agree to not to make Purnpay party to or hold Purnpay responsible and/or liable for any issue or claim arising out for any dispute whatsoever between You and Landlord.

   The customer is advised to obtain independent tax advice with respect to tax deducted at source or any other allied tax-related issues. Purnpay shall not be liable to provide any tax advice to the customer at any point in time.

   vii. Risk Mitigation: Purnpay may delay, suspend, or reject a transaction for any payment(s) for any reason, including without limitation if We suspect the transaction poses a financial or security risk, or is unauthorized, fraudulent, suspicious, unlawful or in any way in violation of the applicable laws around such transactions or in violation of these Terms of Use, subject to dispute or otherwise unusual.

   You agree not to use the Rent Payment Services for any unlawful activity. You understand that Purnpay reserves the right to investigate any suspicious activity or in response to any complaints or reported violations. When investigating any such activity, Purnpay reserves the right to report suspected unlawful activity to banks, regulators, and law enforcement agencies and to provide them with any relevant information including but not limited to personally identifiable data of the customer.

   viii. Purnpay shall not be liable for errors You make in using the Rent Payment Services, including but not limited to the following:

   • You erroneously instruct Purnpay to submit a payment to a Landlord multiple times;
   • You instruct Purnpay to remit the wrong amount to a Landlord;
   • You provide Us with incorrect or incomplete information

10. Our Fee:You understand that You may be charged a fee with respect to Your use of the Platform or Services. Further, We may also charge a fee with respect to certain optional valued added services that You elect to use. The amount of the fee will be displayed to You on the payment page. You agree to pay all such fees and charges as may be applicable to the Services You use and authorize Us to add the fee to the amount of the bill payment You request or bill You separately for such fees. You agree and accept that We reserve the right to change the fee structure from time to time.
11. Deals:
    1. Users who register for a Purnpay Account are eligible to avail offers provided by various third parties (“Deal Partner”) listed in the “Deals” tab or displayed upon completion of transactions on the Platform (“Deal(s)”). Unless otherwise permitted by Purnpay and subject to conditions laid down by the Deal Partner, You are entitled to avail each Deal a maximum of 5 times. Each time You avail a Deal, a nominal fee of Re. 1 will be payable by You to Purnpay towards handling and convenience charges.
    2. These Deals are only offered as incentive to and for convenience of Users. Purnpay is not selling/rendering any products/services being offered by the Deal Partner nor does Purnpay act as express or implied agent of the Deal Partner vis-a-vis the customers. Descriptions of the Deals and Deal Partner’s products and/or services are provided by the Deal Partner. Purnpay is neither guaranteeing nor making any representation with respect to the Deals being offered by the Deal Partner and is not responsible for sale/quality/features of the products/services under the offer through these Deals.
    3. Deals offered on the Platform may also be available at other online platforms. The customer's discretion is advised in this regard. The use of the Deal would be subject to the terms & conditions of usage as stipulated by the Deal Partner. Any action taken or obligation created voluntary by the person(s) accessing/using such Deal(s) shall be directly between such person and the Deal Partner and Purnpay shall not be responsible directly or indirectly for such action so taken. Fulfillment of redemption requests against Deals featured on the Purnpay Platform are subject to availability of the products and warranties/restrictions placed by the Deal Partner at the time of the redemption. In case a Deal Partner fails to honor a Deal, the liability of Purnpay shall be limited to refunding the handling and convenience charges paid by You to Purnpay with respect to such Deal.
    4. Reproduction, sale, or trade of Deal(s) is strictly prohibited. Purnpay reserves the right to disqualify any Purnpay Account from the benefits of the Deal program in case of any illegal, suspicious, fraudulent, or potentially fraudulent transaction/activity or misuse of the Program or part thereof.
    5. Purnpay reserves the right to modify wholly or in part this program by any other program or terminate the program at any time without any prior notice to the You. Purnpay also reserves the right to offer/ withdraw any special items for a special set of User selected at its discretion, as well as the right to accept/ decline a User's request at its discretion.
    6. If You avail any offers, discounts, cashbacks, coupons, etc. (“Offers”) provided by Us or Our partners, You are agreeing to comply with and accept the terms and conditions provided in respect of such Offers. Further, You understand that all terms and conditions provided with respect to any Offer shall form part of and shall be read in conjunction with these Terms of Use.
12. Rewards:
    1. Subject to these Terms of Use, customers who register for a Purnpay Account may be eligible to receive Purnpay Rewards (“Purnpay Rewards Program”). As a part of the Purnpay Rewards Program, You may receive offers, scratch cards, discounts, cashbacks, coupons, etc. (“Reward”) provided by Us or Our partners.
    2. Rewards program will be applicable on minimum transaction amount of Rs. 50 or above. In case of UPI transactions, the Customer will be eligible for a Reward only if the Customer makes payment using a Purnpay UPI handle.
    3. In order to be eligible to receive the Reward, the Customer will also be required to provide Purnpay access to the Customer’s location.
    4. The Rewards Program is not open to residents of the states of Tamil Nadu, West Bengal Sikkim, Nagaland, or any other state where such contest/offer may be prohibited.
    5. The Reward You receive may be determined basis factors such Rewards that You may have received in the past, payment methods that You may use, how often You use the Purnpay Platform, etc.
    6. In case there is more than one offer available simultaneously, no two offers can be combined.
    7. In case the Reward is in the form of a scratch card, the scratch card must be availed within 30 days. Any scratch cards which remain unused for 30 days, will expire.
    8. If You avail any Reward provided by Us or Our partners (“Reward Program Partner”), You accept the terms and conditions provided in respect of such Reward. Further, You understand that all terms and conditions provided with respect to any Reward shall form part of and shall be read in conjunction with these Rewards Program Terms.
    9. Fulfillment of redemption requests against Rewards that may be offered by Reward Program Partners are subject to availability of the products and warranties/restrictions placed by the Reward Partners at the time of the redemption. In case a Reward Partner fails to honor a Reward, the liability of Purnpay shall be solely limited to providing the customer a substitute Reward as may be determined as suitable by Purnpay.
    10. Purnpay reserves the right to modify wholly or in part the Purnpay Reward Program by any other program or terminate the Purnpay Reward Program at any time Offer without assigning any reasons or without any prior notice to the You, including but not limited to placing a cap on the number of times a customer will be eligible to receive a Reward under this Purnpay Rewards Program. Purnpay also reserve the right to offer/ withdraw any special items for a special set of customers selected at its discretion. Purnpay reserves the right to disqualify any Purnpay Account from the benefits of this offer in case of any fraudulent activity/suspicious transactions.
13. Cashback:Cashback received by the customer either upon redemption of a Freefund Code or Deal (subject to terms of the Deal Partners) or with respect to transactions made through Platform or using Services including any In-App Services (including Cashback received as a Reward), shall be in the form of ‘Purnpay Gift Instrument issued by Axis Bank’ (“Cashback”). The same shall be redeemable within 365 days from the date of issuance. You understand and acknowledges that the Cashback cannot be exchanged for its value in cash, either in full or in part. You further acknowledge that the value stored in the Cashback cannot transferred in any manner whatsoever.
14. Freefund Code: This code entitles the customer to receive Cashback upon redemption (“Freefund Code”). The customer understands that the Freefund Code is not a prepaid payment instrument. The validity of a Freefund Code shall be as determined by Purnpay and conveyed to the customer at the time of issuance of the Freefund Code.
15. Payments: All payments made through the Platform and/or with respect to Services availed shall be compulsorily in Indian Rupees. You understand and acknowledge that when You use any of the payment method/s available on the Platform for availing the Services, Purnpay Entities shall not be responsible for or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to You due to:
    1. Lack of authorization for any transaction(s), or
    2. Exceeding the preset limit mutually agreed by You and between bank/s and/or other institutions used by You in making payment, or
    3. Any payment issues arising out of the transaction, or
    4. Rejection of transaction for any other reason(s) whatsoever.
16. Refunds:In case any amount is transferred, or payment is made by You to any third party through the Platform or Services, Purnpay shall not be liable to refund such amount to You under any circumstances. If You erroneously send a payment to the wrong party or send a payment for the wrong amount (for instance a typographical error at Your end), Your only recourse will be to contact the party to whom You have sent the payment and ask them to refund the amount. Purnpay will not reimburse You or reverse a payment that You have erroneously made.
17. Communication: Purnpay, OUR AGENTS, REPRESENTATIVES, AFFILIATES MAY COMMUNICATE WITH YOU THROUGH E-MAIL, SMS, TELEPHONE, CALLS USING PRERECORDED MESSAGES OR ARTIFICIAL VOICE, CALLS AND MESSAGES DELIVERED USING AUTO TELEPHONE DIALLING SYSTEM OR AN AUTOMATIC TEXTING SYSTEM, BY POSTING NOTIFICATIONS ON THE PLATFORM (INCLUDING PUSH NOTIFICATIONS) OR ANY OTHER MEANS OF COMMUNICATION. BY USING THE PLATFORM, YOU CONSENT TO RECEIVE SUCH COMMUNICATIONS FROM Purnpay IN RELATION TO THE PLATFORM AND/OR SERVICES, YOUR Purnpay ACCOUNT INFORMATION, OR ANY UPDATES/ CHANGES TO THE PLATFORM/ SERVICES AND/ OR OTHER PROMOTIONAL OR MARKETING COMMUNICATIONS FROM Purnpay AND ITS AFFILIATES.
18. Disclaimer of Warranties: YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOUR USE OF THE PLATFORM OR SERVICES IS AT YOUR SOLE RISK AND DISCRETION. THE PLATFORM IS LICENSED TO YOU "ASIS," "WITH ALL FAULTS," AND "AS AVAILABLE." YOU BEAR THE RISK OF USING IT. Purnpay AND/ OR ITS AFFILIATES GIVES NO EXPRESS WARRANTIES, GUARANTEES, OR CONDITIONS UNDER OR IN RELATION TO THE PLATFORM OR SERVICES. Purnpay AND/ OR ITS AFFILIATES EXCLUDE ANY IMPLIED WARRANTIES OR CONDITIONS, INCLUDING THOSE OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON- INFRINGEMENT.

    Purnpay MAKES NO WARRANTY AGAINST AND WILL NOT BE LIABLE OR RESPONSIBLE FOR: (A) INTERFERENCE OF YOUR ENJOYMENT OF THE PLATFORM OR SERVICES; (B) LOSSES OR DAMAGES INCLUDING ANY PERSONAL INJURY ARISING FROM OR IN ANY WAY RELATED TO YOUR ACCESS OR USE OF THE PLATFORM AND/ OR SERVICES; (C) USE OF ANY CONTENT POSTED, TRANSMITTED, OR OTHERWISE MADE AVAILABLE THROUGH THE PLATFORM AND/ OR SERVICES; (D) FAILURE, SUSPENSION OR WITHDRAWAL OF ALL OR PART OF THE PLATFORM AND/ OR ANY SERVICE AT ANY TIME; (E) ANY BUGS, VIRUSES, OR THE LIKE WHICH MAY BE TRANSMITTED TO OR THROUGH THE PLATFORM OR SERVICES; (F) FUNCTIONAL, UNINTERRUPTED, ERROR-FREE OR BUG-FREE DELIVERY OF THE PLATFORM AND/ OR SERVICES; (G) SECURITY, RELIABILITY OR TIMELINESS OF THE PLATFORM AND/ OR SERVICES. ANY CONTENT OR MATERIAL DOWNLOADED THROUGH YOUR USE OF THE PLATFORM AND/ OR SERVICES IS AT YOUR OWN DISCRETION AND RISK AND YOU WILL BE SOLELY RESPONSIBLE FOR ANY DAMAGE OR LOSS OF DATA OCCURRING ON YOUR DEVICE OR ANY OTHER LOSS OR DAMAGES OF ANY KIND RESULTING FROM THE DOWNLOAD AND USE OF THE PLATFORM AND/ OR SERVICES. NO ADVICE, COURSE OF CONDUCT OR INFORMATION, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM Purnpay OR ANY PARTY OR THROUGH THE PLATFORM AND/ OR SERVICES WILL CREATE ANY WARRANTY UNLESS EXPRESSLY STATED IN THESE TERMS.

    WHILST Purnpay WILL UNDERTAKE ALL REASONABLE EFFORTS AND DUE DILIGENCE TO ENSURE SECURITY AND INTEGRITY, Purnpay WILL, IN PARTICULAR, NOT BE LIABLE FOR THE FOLLOWING: DELAY OR ERRORS IN TRANSMISSION AND/ OR STORAGE OF INFORMATION TO OR THROUGH Purnpay THAT MIGHT OCCUR FROM TIME TO TIME INTRUSION, DISTORTION, LOSS OR FORGERY OF DATA, ETC DUE TO ACT OF ANY THIRD PARTY, FAILURE OF ANY SOFTWARE AND/OR HARDWARE OR TELECOMMUNICATION SERVICE PROVIDER(S) USED BY Purnpay OR YOU OR ANY OTHER ACT BEYOND OUR REASONABLE CONTROL.YOU WILL BE LIABLE FOR ANY CONSEQUENCES WHATSOEVER RESULTING FROM ANYTHING TRANSMITTED OR CAUSED TO BE TRANSMITTED BY YOU, TO OR THROUGH THE PLATFORM AND/OR SERVICES.

    THE PLATFORM AND SERVICES ARE CONTROLLED AND OPERATED FROM AND IN INDIA. WE MAKE NO REPRESENTATIONS THAT THE SERVICES ARE APPROPRIATE OR AVAILABLE FOR USE IN OTHER LOCATIONS. THOSE WHO ACCESS OR USE THE SERVICES FROM OTHER JURISDICTIONS DO SO AT THEIR OWN VOLITION AND ARE ENTIRELY RESPONSIBLE FOR COMPLIANCE WITH ALL APPLICABLE INDIAN LAWS, RULES, REGULATIONS, GUIDELINES INCLUDING BUT NOT LIMITED TO EXPORT AND IMPORT REGULATIONS AND RBI REGULATIONS. YOU SHOULD NOT USE THE SERVICE IF YOU ARE A RESIDENT OF A COUNTRY EMBARGOED BY INDIA, OR ARE A FOREIGN PERSON OR ENTITY BLOCKED OR DENIED BY THE INDIAN GOVERNMENT. UNLESS OTHERWISE EXPLICITLY STATED, ALL MATERIALS FOUND ON THE SERVICES ARE SOLELY DIRECTED TO INDIVIDUALS, COMPANIES, OR OTHER ENTITIES LOCATED IN INDIA.

19. Termination
    1. Our Right: We reserve the right, without notice and in Our sole discretion, to terminate Your access to, and use of, of the Platform and Services and to block or prevent Your future access to, and use of, the Platform and/or the Services. Upon termination, You must uninstall any copies of the Services from Your computer and/or mobile or other devices. We will not be liable to You for the termination of the services or for any consequence arising out of termination of the services.
    2. Your Right: You may terminate these Terms of Use by closing Your Purnpay Account at any time. Upon closure of a Purnpay Account, any pending transactions will be cancelled.
    3. Termination for Force Majeure: We will have the option to suspend or terminate these Terms of Use and the discontinue any Services with immediate effect on the occurrence of a force majeure event.
20. Effect of Termination:We will not be liable to You for compensation, reimbursement, or damages in connection with Your use of the Platform or Services, or any termination or suspension of the Services. The termination of these Terms of Use does not relieve You of obligations to pay any fees or costs accrued prior to the termination and any other amounts owed by You to Us, and/or Our partners and service providers under these Terms of Use or terms with respect to any Services offered through the Platform.
21. Indemnification: You agree to indemnify, defend and hold harmless Purnpay, its Affiliates and agents and each of their respective officers, directors, employees, successors and assigns from and against any claim, proceeding, loss, damage, liability, cost, demand or expense (including but not limited to attorney's fees) of any kind arising out of: (i) Your access to or use of the Platform and Services; (ii) any breach of these Terms of Use or rules and/policies of any payment system providers; (iii) Your violation of the rights of a third party, including but not limited to infringement of any intellectual property, proprietary right or trade secret of any person or entity, or of any privacy or consumer protection right that is implicated herein; (iv) any violation of law or contractual obligation and any claims, demands, notices pursuant to such violation; (v) fraud, negligence or misconduct by You individually or in connivance with any third party; (vi) Your wrongful or improper use of the Platform and/or the Services. These obligations will survive termination of these Terms of Use.
22. Limitation of Liability:
    1. To the maximum extent permitted by applicable laws, under no circumstance will Purnpay or its Affiliates, their respective directors, employees or agents be liable to You or any third party for personal injury, or any special, incidental, indirect, punitive, exemplary or consequential damages whatsoever, including, but not limited to, damages for loss of profits or revenues, goodwill, failure to transmit or receive any data, loss of confidential information, business interruption, loss of privacy, corruption or loss of data, failure to receive or backup Your data (or archived data), for any cause of action, including contract, tort (including negligence) or otherwise and any other loss whatsoever arising out of or in any way arising from or related to the use of or inability to use the Platform and/or Services, including without limitation any damages caused by or resulting from reliance by You on any information obtained from Us or that result from mistakes, omissions, interruptions, deletion of files, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from acts of god, communications failure, theft, destruction or unauthorized access to Our records, programs or services; or following a failure, suspension or withdrawal of all or part of the Platform at any time, any third party content, software or functions used in connection with the Platform even if Purnpay or any or all of its agents have been advised of the possibility of such damages. In no event shall Our aggregate liability, whether in contract, warranty, tort (including negligence, whether active, passive, or imputed), product liability, strict liability, or other theory, arising out of or relating to the use or inability to use the services exceed any fee, You pay to Us, if any, to access or use the Services giving rise to the cause of action or Rupees One Thousand only (Rs. 1000/-), whichever is lesser.
    2. In addition, We shall not be liable for errors You make in using the Platform and Services, including the following:

       i. You erroneously direct Us to submit a payment instruction multiple time;

       ii. You direct Us to process payment for the wrong amount;

       iii. You direct Us to submit a payment instruction for a wrong party; or

       iv. You provide Us with incorrect or incomplete information.

       Any of the above issue(s) needs to be taken up directly with the payee.

    3. You understand and acknowledge that We do not have control of, or liability for, the goods or services that are paid for via Service(s)
    4. Your liability: Except as otherwise provided by law, You will be liable for any loss or damage resulting from Your breach of these Terms of Use or Your negligence, or which resulted from unauthorized, fraudulent, or dishonest acts by others (other than Us). You are liable for all payments that You make, or which are made or requested under Your Purnpay Account, even if that payment is unauthorized.
    5. Some jurisdictions do not allow limitations on implied warranties or the exclusion or limitation of certain damages. If these laws apply, some or all of the above disclaimers, exclusions or limitations may not apply. You agree that, if You are dissatisfied with the Services or any portion thereof, Your exclusive remedy shall be to stop using the Services.
23. Governing Law, Jurisdiction and Dispute Resolution: These Terms of Use will be governed by and construed in accordance with the laws of India. You agree that any legal action or proceedings arising out of these Terms of Use may be brought exclusively in the competent courts/tribunals having jurisdiction in New Delhi in India and irrevocably submit themselves to the jurisdiction of such courts / tribunals. If any dispute, controversy, or claim arises under these Terms of Use or in relation to any Service or the Platform, including any question regarding the existence, validity, or termination of these Terms of Use (hereinafter “Dispute”), the parties shall use all reasonable endeavours to resolve such Dispute amicably. If the parties are unable to resolve the dispute amicably within 30 days of the notice of such dispute, Purnpay may elect to resolve any Dispute by a binding arbitration in accordance with the provisions of the Indian Arbitration & Conciliation Act, 1996 (hereinafter “Act”). Such Dispute shall be arbitrated on an individual basis and shall not be consolidated in any arbitration with any claim or controversy of any other party. The Dispute shall be resolved by a sole arbitrator, appointed in accordance with the Act. The seat of the arbitration shall be New Delhi and the language of this arbitration shall be English. Either You or Purnpay may seek any interim or preliminary relief from a court of competent jurisdiction in New Delhi necessary to protect the rights or the property belonging to You or Paytm (or any of Our agents, suppliers, and subcontractors), pending the completion of arbitration. Any arbitration shall be confidential, and neither You nor Purnpay may disclose the existence, content, or results of any arbitration, except as may be required by law or for purposes of enforcing the arbitration award. All administrative fees and expenses of arbitration will be divided equally between You and Purnpay. In all arbitrations, each party will bear the expense of its own lawyers and preparation. This paragraph shall survive termination of these Terms of Use.
24. No Obligation for Maintenance: Purnpay has no obligation to monitor the functioning of the Platform. However, You acknowledge and agree that Purnpay has the right to monitor the functioning of the Platform electronically or otherwise from time to time and to disclose any information as necessary or appropriate to satisfy any law, regulation, or other governmental request, to operate the Platform properly or to protect itself or its service providers, alliance partners, visitors, Users. Purnpay reserve the right to refuse to post or to remove any information or materials, in whole or in part, that, in its sole discretion, are unacceptable, undesirable, inappropriate or in violation of the Terms of Use.
25. No Agency: These Terms of Use and Your use of or access to the Platform are not intended to create an agency, partnership, joint-venture or employer-employee relationship between You and the Platform, Purnpay, any partner, except where otherwise specifically agreed or appointed.
26. Third Party Services and Links to Other Web Sites: We may display third party content or advertisements through the services and may provide links that will take You to web pages and content of third parties that are not under Our control (collectively, "Third Party Content"). We make no representation, warranty, promise or guarantee whatsoever concerning any aspect of any Third Party Content, including without limitation regarding its accuracy or completeness. You agree that Your use of all Third Party Content is entirely at Your own risk. We provide Third Party Content solely as a convenience to You, and the provision of such a link is not an endorsement by Us of any aspect of the Third Party Content. You acknowledge and agree that We are not responsible or liable in any manner for any Third Party Content and undertake no responsibility to update or review any Third Party Content. Please remember that when You use a link to go from Our Platform to another website, Our Privacy Policy is no longer in effect. If You browse and interact on any other website, including those that have a link on Our Platform, this will be subject to that website's own rules and policies.
27. Assignment: These Terms of Use, and any rights and licenses granted hereunder, may not be transferred, or assigned by You. We may assign, in whole or in part, the benefits or obligations of these Terms of Use. We will provide an intimation of such assignment to You, which will be binding on the parties to these Terms of Use.
28. Force Majeure:We will not be liable for failure to perform under these Terms of Use as a result of any event of force majeure including but not limited to acts of god, fire, wars, sabotage, civil unrest, labour unrest, action of statutory authorities or local or state, central governments, change in laws, rules, and regulations, affecting Our and/or the payment system providers performance.
29. Waiver: Unless otherwise expressly stated in these Terms of Use, the failure to exercise or delay in exercising a right or remedy under these Terms of Use will not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy under these Terms of Use will prevent any further exercise of the right or remedy or the exercise of any other right or remedy.
30. Survival of Provisions:These Terms of Use by their nature and content are intended to survive the performance hereof by any or all parties hereto and will so survive the completion and termination of this Terms and Conditions.
31. Severability: If one or more provisions of these Terms are held to be unenforceable under applicable law(s), the remainder of these Terms will be valid and enforceable.
32. Waiver:If You breach these Terms of Use and Purnpay takes no action, We will still be entitled to use Our rights and remedies in any other situation where You breach these Terms.
33. Non-Exclusivity: It is agreed and clarified that these Terms of Use are being executed on a non-exclusive basis and the Parties are at liberty to enter into similar terms and agreements with others.
34. Grievance Officer: In the event You have any queries/complaints regarding usage of Platform and/or Services, please contact grievanceofficer@Purnpay.com. The complaints will be redressed in the manner provided under the Information Technology Act, 2000 and rules framed thereunder and Our Grievance Redressal Policy.
35. Notices: All notices, requests, demands, waivers, and other communications required or permitted to be given under these Terms and Conditions will be in writing and to be sent to the following addresses:

    For Purnpay:

    Postal Address: 11^th Floor, Tower C, DLF Cyber Greens,
    DLF Cyber City, DLF Phase-3,
    Gurugram, Haryana - 122002

    Email: care@Purnpay.in

    For You:

    To the name and email address provided at the time of registration.

    Or, in each case, at such other address as may be specified in writing to the other parties in accordance with the requirements of this clause. All such notices, requests, demands, waivers, and other communications will be deemed duly given

    1. if by personal delivery, on the day after such delivery,
    2. if by certified or registered mail, on the second day after the mailing thereof,
    3. if by courier service or similar service, on the day delivered, or
    4. if emailed, on the day following the day on which such email was sent, provided that a copy is also sent by registered mail
36. User Guidelines:
    1. In consideration for granting you the rights hereunder, you hereby agree not to use the Platform for any purpose that is unlawful under any applicable laws and/or in violation of the terms of these Terms of Use and our Privacy Policy. You shall not use the Platform in any manner that could damage, disable, overburden, or impair our server, or any network(s) connected to any of Our server, or interfere with any other party's use and enjoyment of the Platform. You shall not attempt to gain unauthorized access to any functions and features, other user accounts, computer systems or networks connected to any Purnpay server, in any manner, including, through hacking, password mining or any other means. You shall not obtain or attempt to obtain any materials or information through any means which is not intentionally made available through the Platform.
    2. The Platform is made available to you for your own personal and non-commercial use alone. You shall not allow third parties to: (i) make and/or distribute copies of the Platform or any deliverable generated by the Platform; (ii) attempt to copy, reproduce, alter, modify and/or reverse engineer the Platform; and/or (iii) create derivative works of the Platform. (iii) create derivative works of the Platform.
    3. You accept that any and all operations emanating from your device shall be assumed to have been initiated by you.
    4. You shall not copy, reproduce, distribute, or create derivative works of our content that is available on the Platform. Also, you shall not reverse engineer or reverse compile our technology that is available on the Platform, including, without limitation, such Java applet, as may be associated with the Platform from time to time.
    5. You shall request Purnpay, to block the Account and change the passcode immediately for the Account, if your device has been lost or stolen.
    6. You are responsible for any and all activities that occur in your Account. You agree to notify Purnpay immediately of any unauthorized use of the Account or any other breach of security. Purnpay shall not be liable for any loss to you or your organization owing to negligent actions or a failure on your part to inform Purnpay within a reasonable time, about loss or theft of your device and/or any unauthorized access in your Account, either with or without your knowledge.
    7. You shall be liable for losses incurred by Purnpay or any other party due to a third party’s use of the Account. You shall not use any other person’s account at any time, without the permission of the account holder and Purnpay.
    8. Purnpay shall make all reasonable efforts to ensure that your information is kept confidential. However, Purnpay shall not be responsible for any disclosure or leakage of confidential information and/or loss or damage of the device due to theft, negligence, or failure on your part to practice safe computing.
    9. You shall ensure that while using the functions and features, all prevailing and applicable laws, rules, and regulations, shall at all times, be strictly complied with by You and Purnpay shall not be liable in any manner whatsoever for default of any nature, by you, regarding the same.
    10. You understand and acknowledge that upon using the Product, you authorize us to access third party sites designated by you, on your behalf, to retrieve such information requested by you, and to register for accounts requested by you. For all purposes hereof, you hereby grant us a limited powers and hereby authorize us with the full power of substitution and re-substitution, for you and in your name, place and stead, in any and all capacities, to access third party internet sites, servers or documents, retrieve information, and use your information, all as described above, with the full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection with services and facilities available on the Platform, as fully to all intents and purposes as you might or could do in person. YOU ACKNOWLEDGE AND AGREE THAT WHEN WE ACCESSES AND RETRIEVE INFORMATION FROM THIRD PARTY SITES, WE ARE ACTING AS YOUR AGENT, AND NOT THE AGENT OR ON BEHALF OF THE THIRD PARTY. You agree that such third parties shall be entitled to rely on the foregoing authorization, agency granted by you.
37. Warranties:
    1. The Platform and the functions and features therein are provided on an "as is" and on an "as available" basis. We expressly disclaim all warranties of any kind, whether express or implied, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
    2. We shall make reasonable efforts to make available the Services and the Services at all times. However, we make no warranty that the Platform and the Services shall meet your requirements, be uninterrupted, timely, secure, and/or error free. Further we do not make any warranty as to the results that may be obtained from the use of the functions and features or as to the accuracy, reliability and/or quality of the output derived therefrom.
    3. We shall not be liable for the loss and/or damage of the confidential information or data of the User arising as a result of an event or a series of related events, that is beyond our control including failures of or problems with the internet or part of the internet, attempted hacker attacks, hacker attacks, denial of service attacks and/or viruses or other malicious software attacks or infections.
    4. Any material downloaded or otherwise obtained through the Platform is done at your own discretion and risk and you are solely responsible for any damage to your device or loss of data that results from the download of any such material. No advice or information, whether oral or written, obtained by you from us through or from the service will create any warranty not expressly stated in these Terms of Use.

By offering to acquire, accepting or using Purnpay Balance Account, You are unconditionally agreeing to the Terms and Conditions set out below with Axis Bank Limited and will be bound by them.
By agreeing to these Terms and Conditions, You represent the following:

• You are 18 (eighteen) years old or older;
• Capable of entering into a legally binding agreement;
• You are an Indian resident;
• You have not been previously suspended or removed from the Prepaid Payment Account Services or Single-Sign-On Services;
• You have valid and subsisting right, authority, and capacity to enter into these Terms and Conditions and to abide by all of the terms and conditions contained herein; and
• You are not impersonating any person or entity, or falsely stating or otherwise misrepresenting identity, age or affiliation with any person or entity.

All references in these Terms and Conditions to You or Your shall refer to the users or Customer of Website or Merchant Site(s). All references in these Terms and Conditions to We, Us, or Our shall refer to Purnpay, and their respective affiliates, as the case may be.

1. DEFINITIONS: Unless the context requires otherwise the terms defined shall have the same meaning attributed to them herein:

a) "Applicable Law(s)" shall mean all applicable central, state and local laws, statute, regulations, orders or directives as may be amended and in effect or re-enacted from time to time, order or other legislative action of any government authority to the extent having the force of law and in each case, any implementing regulation or interpretation issued thereunder including any successor Applicable Law;

b) "Customer" shall mean the registered user of Purnpay account who also acquires Purnpay Balance Account from Axis Bank Limited

c) "Purnpay Account" shall mean the account created by the Customer by using the services provided by Purnpay, upon the Customer “signing in” or “signing up” for the purposes of entering into a Transaction with a Merchant or other Customer; which would give the Customer access inter alia to Purnpay Balance Account.

d) "Purnpay Balance Account"or "Prepaid Payment Account" shall means a) a Small prepaid payment instrument and Full KYC prepaid payment instrument as the case may be, issued by Axis Bank Limited and which is branded with Purnpay Payment Technologies Private Limited(“ Purnpay”) in the form of a virtual payment account (“Purnpay Wallet”) and/or (b) prepaid gift instrument(s) issued by Axis Bank Limited in the form of a virtual payment account (“Purnpay Gift Instrument”), which can be used on the Website or Merchants site(s) (a) to make payments for goods and services (" Products") purchased/availed through Merchant(s) or for transfer of funds from one Customer's Purnpay Wallet to another Purnpay Wallet if permissible under Applicable Law or for any other purposes as may be specified from time to time by the Bank.

e) "Purnpay" shall mean Purnpay Payment Technologies Private Limited, a private limited company incorporated in India under the Companies Act, 2013 and having its registered office at 11^th Floor, Tower C, DLF Cyber Greens, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122022

f) "Purnpay Wallet" shall mean a Small prepaid payment instrument and Full KYC prepaid payment instrument as the case may be, issued by Axis Bank Private Limited in the form of a virtual payment account.

g) "Purnpay Gift Instrument" shall mean a prepaid gift instrument(s) issued by Axis Bank Limited in the form of a virtual payment account.

h) "Merchant(s)" shall mean seller(s), retailers or e-commerce marketplace or such other business entities who accept Purnpay Balance Account as payment options for collecting payments from the Customer

i) "Mobile Application(s)" shall mean the software application(s) which inter alia, enables Purnpay account through the mobile-device.

j) "Prepaid Payment Account Services" or "Services" shall mean the scheme under which Prepaid Payment Account is issued by the Bank and related services or functionalities as detailed under these Terms and Condititonsenabling Customers to make Transaction.

k) "RBI" shall mean Reserve Bank of India.

l) "Single-Sign-On Services" shall mean the services provided by Purnpay to Customers through Purnpay account, or otherwise. For avoidance of doubt, the Purnpay Balance Account is issued by Axis Bank Limited but can be accessed through Single-Sign-On Services.

m) "Terms and Conditions" shall mean these terms and conditions;

n) "Transaction" shall mean an online and offline purchase of Product; or payments for purchase of Products or for any other specified purpose to a Merchant; or to other Customer, or transfer of funds to any bank account, through Purnpay Balance Account or through any other modes as determined by the Bank from time to time and shall also include load/reload of Purnpay Balance Account.

o) "Website" shall mean website having the domain https://www.Purnpay.in or mobile site, Mobile Application(s), or online front end or back end interphases through which the Bank shall issue the Prepaid Payment Account after creation of Purnpay account.

p) "Axis Bank Limited" or "The Bank" shall mean the Axis Bank Limited, a company incorporated under the Companies Act, 1956 and a banking company within the meaning of the Banking Regulation Act, 1949 and having its registered office at Axis Bank Limited, ‘Trishul’, 3rd Floor, Opp. Samartheshwar Temple, Near Law Garden, Ellisbridge, Ahmedabad - 380 006.

2. INTERPRETATIONS

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. These Terms and Conditions shall be independent of the terms and conditions of Merchant(s)' site(s).

2.6. An "authorisation" or "approval" includes an authorisation, consent, clearance, approval, permission, resolution, license, exemption, filing and registration.

3. ISSUANCE AND REGISTRATION OF Purnpay BALANCE ACCOUNT / PREPAID PAYMENT ACCOUNT

3.1. The Prepaid Payment Account will be issued by the Bank to Customer on the request of the Customer and pursuant to the Customer making an application for registration of Purnpay Balance Account and agreeing to these Terms and Conditions and other applicable terms and conditions in the manner prescribed by the Bank in this regard, provided the Customer has fulfilled the eligibility and Know Your Customer ("KYC") criteria and provided all relevant information and/or documentation request by the Bank.

3.2. A Customer desirous of acquiring a Prepaid Payment Account should apply to the Bank using Website or using Merchant's Site as mentioned on the Website and accept these Terms and Conditions and other terms and conditions as may be specified.

3.3 The Bank reserves the right to reject any application made for issuing a Prepaid Payment Account without assigning any reason.

3.4 In order to acquire register, create and use a Prepaid Payment Account, the Bank may require You to submit certain personal information, such as Your name, mobile phone number, e-mail address, date of birth, preferred language of communication, etc as amended by the Bank from time to time and any other data as per Applicable Law ("Data") . You agree that the Data You provide to the Bank upon registration and at all other times will be true, accurate, current and complete. You shall immediately inform the Bank or its authorized service provider(s) about change in Data along with such proof of change.

3.5 You hereby authorize the Bank, directly or through third parties, to make any inquiries that the Bank may consider necessary to validate Your identity and/or authenticate Your identity and Prepaid Payment Account information. This may include asking You for further information and/or documentation about Your account usage or identity, or requiring You to confirm identification by furnishing KYC documentation, ownership of Your email address, telephone number or financial instruments, among others. This process is for internal verification purposes. You agree and understand that the Data as entered by You shall always be maintained by Bank's authorized service provider(s).

3.6. The collection, verification, audit and maintenance of correct and updated Customer information is a continuous process and the Bank reserve the right, at any time, to take steps necessary to ensure compliance with all relevant and applicable KYC requirements.

3.7 Notwithstanding anything contained herein, You shall complete Your KYC verification process through the e-KYC mode, as may be made available to You, You also agree to and accept the below terms:

a. You hereby consent that the Bank may, through an authorized UIDAI regulated agency (“Agency”), authenticate ’Know Your Customer’ (KYC) information through biometric and/or One Time Password (OTP) based Adhaar authentication (“e-KYC”) and/or any other permitted means for the purpose of fulfilling the KYC requirements mandated by the RBI, in a manner as required under applicable laws.
b. You hereby allow Bank to obtain from the Agency, and to store Your e-KYC for a period of 10 (ten) years from the date of termination of Your account with the Bank, or any other period as mandated under any applicable laws.
c. You hereby declare that the details furnished by You are true, correct and complete to the best of Your knowledge. You will keep the Bank and Purnpay indemnified and harmless with regard to any inaccuracies, errors, discrepancies, etc. in the information provided, or in case of any incomplete information provided.
d. . You confirm that You are aware of and have read the laws applicable in relation to eKYC Data and that You are aware of Your rights and obligations thereunder and under all applicable laws.
e. You agree that the Bank may also share Your information/ data for such purposes as may be mandated under Applicable Law or any order/request of a regulatory/ statutory authority or Court.

3.8 The Bank reserves the right to discontinue the Services/ reject applications for Prepaid Payment Account Services at any time if there are discrepancies in information and/or documentation provided by You or if the information/documentation provided by You is found to be incorrect or wrong. In such an event, the Bank reserves the right to forfeit the balance therein to the extent and in accordance with Applicable Laws.

4 . EXTENT OF PREPAID PAYMENT ACCOUNT SERVICES

4.1. The amount that can be transacted in the Prepaid Payment Account is governed by Applicable Laws including rules, regulations and guidelines laid down by RBI which include monthly limits, transaction limits and balance limits on the Prepaid Payment Account. Subject to any change in Applicable Law including guidelines/notifications issued by RBI from time to time the limitations stated hereunder may be reviewed and modified at the discretion of the Bank without prior intimation to the Customer:

4.1.1 Purnpay Wallet:
Small PPI:
(A) Minimum KYC Purnpay Wallet Features:-

Purnpay no longer issues Minimum KYC Wallet. In terms of RBI Master Directions all existing minimum KYC wallet are to be mandatorily converted into Minimum KYC + wallet or Full KYC, failing which no further credit is allowed in this type of wallet However, the customer can continue to use balance available in his Minimum KYC Wallet.

(B) Minimum KYC + Purnpay Wallet Features:-

Full KYC Purnpay Wallet

Full KYC Purnpay Wallet Features:-

*Note: 1. KYC documentation shall be in line with the prevailing RBI guidelines on (KYC) Know your Customer.

2. Above parameters and limit capping are subject to change as per when new guidelines or Master direction on issuance and operation of prepaid card as may be issued by RBI from time to time

4.1.2. Purnpay Gift Instruments
a. Maximum value of each such payment instrument shall not exceed INR 10,000/- (Indian Rupees Ten Thousand Only).
b. The maximum number of instruments which can be held by an individual shall be 75 (seventy five) at any given point of time. The validity of the prepaid gift instruments may vary between one year to three years as may be decided by the Bank at the time of issuance of prepaid gift instrument. On the request of the Gift PPI Instrument Holder, instruments may be re-validated at the discretion of the Bank for same term or for a shorter term.
c. These Gift Instruments are not re-loadable.

4.2 The said Prepaid Payment Account is valid for purchase of Products and Services and Transactions within territory of India in Indian Rupees only.

4.3 Prepaid Payment Account or Services thereunder is not transferable unless required by operation of law.

4.4 The Customer shall be able to use the Prepaid Payment Account only to the extent of the amount loaded onto the Prepaid Payment Account.

4.5 The Prepaid Payment Account shall be activated subject to the minimum amount being loaded on the Prepaid Payment Account as may be specified by the Bank from time to time and after creation of the Purnpay account.

4.6 The Customer or any other person permitted to load the Prepaid Payment Account may credit the Prepaid Payment Account through any of the methods prescribed from time to time.

4.7 The Customer may be able to carry out all or any kind of Transactions, as may be available from time to time.

4.8 No cash withdrawal or cash remittance is permissible on the Purnpay Balance Account. No interest will be payable by the Bank to Customers on the available balance reflected on the Purnpay Balance Account.

4.9 The Customer is permitted to maintain and operate only one Purnpay Balance Account. Any suspected non-conformity with this requirement shall be just cause for the suspension/ discontinuation of any/all Prepaid Payment Accounts associated with the Customer.

4.10 The Bank may further as per its discretion introduce appropriate controls over the usage of the Prepaid Payment Account.

5. NATURE OF USAGE

5.1 The Customer shall at all times ensure that the Purnpay account/ Prepaid Payment Account credentials are kept safe and shall under no circumstances whatsoever allow the Purnpay Account and Prepaid Payment Account to be used by any other individual. You shall be responsible for all facilities granted by the Bank and for all related charges and shall act in good faith in relation to all dealings with the Prepaid Payment Account and the Bank.

5.2 The Customer will be responsible for the security of the Prepaid Payment Account including Purnpay account and shall take all steps towards ensuring the safekeeping thereof. The Customer shall not disclose his/her/its password to anyone verbally or in writing nor record it elsewhere and if so done, same shall be at Customers’ sole risk and peril.

5.3. The Customer will be liable for all charges incurred on the Prepaid Payment Account until the Prepaid Payment Account is reported for closure. You shall, immediately intimate the Bank of the occurrence of any fraud, hacking or unauthorised use and the Bank may, after due investigations, suspend or terminate the Prepaid Payment Account. It shall be solely Customers responsibility to ensure privacy and confidentiality of Prepaid Payment Account details.

5.4 On creation of Prepaid Payment Account, You will have the opportunity to use various interactive aspects through which You can communicate with us and share information (collectively "Posted Information"). It is important that You act responsibly when providing such Posted Information. Do not use inappropriate language, make gratuitous personal criticisms or comments. When participating in interactive aspects of the Service, please do include all relevant information in a concise manner to help us provide You with a constructive response. You agree and acknowledge that:

5.4.1 You are solely responsible for any Posted Information that You submit on the Website or transmit to our Team and/or other users of the Website;

5.4.2 You may not post, distribute, or reproduce in any way any copyrighted material, trademarks, or other proprietary information without obtaining the prior written consent of the owner of such proprietary rights. You may not submit any content or material that infringes, misappropriates or violates the intellectual property, publicity, privacy or other rights of any party;

5.4.3 You may not provide any Posted Information that falsely expresses or implies that such content or material is sponsored or endorsed by the Bank;

5.4.4 You may not provide any Posted Information that is unlawful or that promotes or encourages illegal activity;

5.4.5 You understand and agree that the Bank may (but is not obligated to) review and delete any Posted Information that in the sole discretion of the Bank violates these Terms or which might be offensive, illegal, or violate the rights of, harm, or threaten the safety of other users of the Website and/or any other person;

5.4.6 You acknowledge and agree that the Bank does not and shall not be required to actively monitor nor exercise any editorial control whatsoever over the content of any message or other material or information created, obtained or accessible through the Services. The Bank does not endorse, verify or otherwise certify the contents of any comments or other material or information made by You. You are solely responsible for the contents of Your communications and may be held legally liable or accountable for the content of Your comments or other material or information;

5.4.7 You agree that You will only provide Posted Information that You believe to be true and You will not purposely provide false or misleading information; and

5.4.8 The following is a partial list of the kind of content and communications that are illegal or prohibited on/through the Website. The Bank reserves the right to investigate and take appropriate legal action in its sole discretion against anyone who violates this provision, including without limitation, removing the offending communication from the Services and terminating the membership of such violators or blocking Your use of the Services and/or the Website. You may not post content that:

(a) belongs to another person and to which You do not have any right to;

(b) is grossly harmful, harassing, blasphemous defamatory, obscene, pornographic, paedophilic, libellous, invasive of another's privacy, hateful, or racially, ethnically objectionable, disparaging, relating or encouraging money laundering or gambling, or otherwise unlawful in any manner whatever;

(c) harm minors in any way;

(d) infringes any patent, trademark, copyright or other proprietary rights;

(e) violates any law for the time being in force;

(f) deceives or misleads the addressee about the origin of such messages or communicates any information which is grossly offensive or menacing in nature;

(g) impersonates another person;

(h) contains software viruses or any other computer code, files or programs designed to interrupt, destroy or limit the functionality of any computer resource;

(i) threatens the unity, integrity, defence, security or sovereignty of India, friendly relations with foreign states, or public order or causes incitement to the commission of any cognizable offence or prevents investigation of any offence or is insulting any other nation.

5.5. You will notify the Bank at care@Purnpay.com upon coming across any objectionable content on the Website and the Bank shall use best efforts to remove such objectionable content within the time period prescribed under Applicable Law.

5.6. The Customer shall inform the Bank in writing within seven (7) days, if any discrepancies exist in the Transactions/ particulars of the Purnpay Balance Account on any statement / records that is made available to the Customer. If the Bank does not receive any information to the contrary within seven (7) days, the statement and the transactions shall be deemed to be correct and unconditionally and irrevocably binding on You. All records of Your instructions and such other details (including but not limited to payments made or received) maintained by the Bank, in electronic or documentary form pursuant to the Terms and Conditions herein, shall as against You, be deemed to be conclusive evidence of such instructions and such other details. In case of any dispute relating to the time of reporting and/ or Transaction/s made on the Purnpay Balance Account or any other matter in relation to the said Purnpay Balance Account, the Bank shall reserve the right to ascertain the time and/ or the authenticity of the disputed Transaction. For customer care contact details, kindly refer to the customer grievance policy available on www.Purnpay.in.

5.7. You may only use the Services for Transactions with the approved Merchants.

5.8. You must ensure the availability of sufficient funds before executing any Transaction from the Prepaid Payment Account.

5.9. You agree to adhere to all Applicable Laws and all such regulations, guidelines and rules prescribed from time to time by the Bank, RBI and any other regulatory body.

5.10. The Customer agrees that he will not use the Prepaid Payment Account for payment of any illegal/unlawful purchases/purposes.

5.11. You hereby agree and acknowledge that the Prepaid Payment Account is issued, loaded, withdrawn, terminated, closed down, suspended by the Bank only.

5.12. You shall be bound to comply with the terms and conditions and all the policies stipulated by the Bank from time to time in relation to the Prepaid Payment Account. The Bank may, at its sole discretion, refuse to accept the application or to issue Prepaid Payment Account to the Customer.

5.13. You shall not use the Services for any purpose that might be construed as contrary or repugnant to any Applicable Laws, regulations, guidelines, judicial dicta, the Banks policies or public policy or for any purpose that might negatively prejudice the goodwill of the Bank.

5.14. You shall be permitted to redeem the outstanding balance in the Prepaid Payment Account , if for any reason the scheme is being wound up or is directed by RBI to be discontinued.

5.15. You shall accept full responsibility for wrongful use of the Prepaid Payment Account and which is in contravention of these terms and conditions. You shall indemnify the Bank and Purnpay and their respective director, officers, personnel, contractors and agents, to make good any loss, damage, penalties, claims, demand, interest or any other financial charges (including lawyer fees) that the aforesaid persons may incur and or suffer whether directly or indirectly as a result of the Customer committing violations of these terms and conditions.

5.16. The Bank reserves the absolute discretion and liberty to decline or honour the authorization request on the Prepaid Payment Account without assigning any reason thereto.

5.17. The Customer acknowledges and understands that the Services are linked to internet connection (and in case of mobile, mobile phone connection) and the Bank or its authorised service providers shall not be responsible and the Customer is solely responsible for all liability arising from including but not limited to any loss or interruption of the Services or the unavailability of Services due to a mobile or internet not supporting Website or Merchant site(s).

5.18. The Customer acknowledge and understand that the information submitted by the Customer for availing the Services or information submitted while using the Services may be shared with third parties inter alia, to facilitate the provision of the Services.

5.19. The Bank may request the Customer to submit additional KYC information/documents as part of ongoing monitoring and due diligence.

5.20. The Bank may at their sole discretion, utilize the services of external service providers/or agents and on such terms as required or necessary, in relation to Purnpay Balance and/or Services.

5.21. The Prepaid Payment Account shall not be used for the purchase of crypto currency.

6. INFORMATION/DATA USAGE

6.1.Except for Posted Information that You submit, all of the information available on or through the Services and/or the Website, including without limitation, text, photographs, graphics and video and audio content, is owned by us and our licensors and is protected by copyright, trademark, patent and trade secret laws, other proprietary rights and international treaties. You acknowledge that the Services and any underlying technology or software used in connection with the Services contain the Bank’s proprietary information. We give You permission to use the aforementioned content for personal, non-commercial purposes only and do not grant, transfer, license any intellectual property rights to You or create any rights in Your favour by virtue of permitting Your use of the Services. You may print, download, and store information from the Website for your own convenience, but You may not copy, distribute, republish (except as permitted in this paragraph), sell, or exploit any of the content, or exploit the Website in whole or in part, for any commercial gain or purpose whatsoever. Except as is expressly and unambiguously provided herein, we do not grant You any express or implied rights.

6.2. THE CUSTOMER UNDERSTANDS THAT THE TERMS AND CONDITIONS PROVIDED ON MERCHANTS SITE(S) SHALL BE INDEPENDENT OF THESE TERMS AND CONDITIONS MENTIONED HEREIN.

7. TRANSACTION AND LOADING OF PREPAID PAYMENT ACCOUNT

7.1 You can use multiple funding sources for loading money in the Prepaid Payment Account. These sources could be but not limited to, Credit Cards, Debit Cards, UPI, Net Banking, and transfer from another Purnpay Wallet.

7.2 The Prepaid Payment Account may also be loaded by transfer of refund money of Transactions carried out using services of Merchant(s) or such other manner as is acceptable to the Bank. The Prepaid Payment Account may also comprise of Gift Instruments issued by way of incentives such as cash back, etc. by Merchant or third parties or such other manner as is acceptable to the Bank.

7.3 The Bank may impose charges/ fees etc., payable by the Customer for availing the said Prepaid Payment Account and funds shall be loaded on the Prepaid Payment Account after deduction of the applicable charges/ fees etc.

7.4 In order to manage risk, the Bank may limit the funding sources available for Your use to fund any particular Transaction.

7.5 The Bank may monitor each Transaction made into Your Prepaid Payment Account to monitor high-risk & fraudulent transactions. If Your Transaction is classified as a high-risk Transaction or is suspected of fraud, the Bank may place a hold on the Transaction and may ask You for more information on You and Your funding source. The Bank will conduct a review and accordingly the Bank will either clear or cancel the Transaction, as per Applicable Law. If the Transaction is cleared, Bank will notify You and update Your Prepaid Payment Account. Otherwise, the Bank will cancel the Transaction and the funds may be forfeited. The said funds will be refundable only to source account upon valid demand raised by holder of source account. The Bank will notify You by email and/or in the account history tab of Your Prepaid Payment Account if the Transaction is cancelled. You agree and understand that the Bank may, as per its internal security policies and regulatory and statutory guidelines, report transactions to appropriate authorities which it classify to be suspicious or fraudulent and the Bank shall not be liable for any loss caused to You for the exercise of such rights by the Bank, even if any such transaction is found to be regular and lawful at a later stage.

7.6 When You load the Prepaid Payment Account, You are liable to the Bank for the full amount of the load plus any fees, if the load is later invalidated for any reason including but not limited to chargeback, reversal of Transaction, dispute by the owner of funding source of a Transaction, You agree to allow the Bank to recover any amounts due to the Bank by debiting Your Prepaid Payment Account. If there are insufficient funds in Your Prepaid Payment Account to cover Your liability, You agree to reimburse the Bank through other means. If the Bank is unable to recover the funds from Your primary funding source, the Bank may attempt to contact You and/or recover the funds from Your alternate funding sources, or may at their discretion, can take appropriate legal actions to collect the amount due, to the extent allowed by Applicable Law. In addition, the Bank reserves the right to suspend or terminate Your Prepaid Payment Account.

8. TRANSACTIONS IN PREPAID PAYMENT ACCOUNT

8.1 Full KYC Customer can choose to transfer the funds available in his Purnpay Wallet to any bank account by way of IMPS/NEFT in accordance with guidelines of RBI. However, the Bank may deny such withdrawal in any of the events as specified in Clause 10.2 herein below.

8.2 The Bank reserves the right to delay withdrawals while screening for risk, or request You provide additional information to verify Your identity and may limit the amount You can withdraw until the information is verified.

8.3 Any withdrawal found to be suspicious will be held back and reversed into the Purnpay Wallet. The Prepaid Payment Account and Purnpay Account will also be suspended for operations and no Transactions will be possible pending an investigation. A notification will be given to You if You are the subject of an investigation. If You are able to provide a justification for the withdrawal to the satisfaction of the Bank, Your account/Prepaid Payment Account will be removed from suspension and You would be free to transact using the Purnpay Wallet.

8.4 In the case of no information being provided by You for a suspended Prepaid Payment Account, the Prepaid Payment Account will continue to be suspended till its validity and the amount will be forfeited in compliance with guidelines of RBI.

9. SUSPENSION OR DISCONTINUANCE OF SERVICES

9.1 Under no circumstances shall the Bank or any of its authorised service provider shall be held liable for a delay or failure or disruption of the Service resulting directly or indirectly from, acts of nature, forces or causes beyond its reasonable control including without limitation, internet failures, computer, telecommunications or any other equipment failures, electrical power failures or non-availability, strikes, labour disputes, riots, insurrections, civil disturbances, sabotage, wilful destruction, threat to national security, shortages of labour or materials, fire, flood, heavy rains, storms, explosions, Acts of God, war, governmental actions, orders of courts or tribunals or non-performance of third parties ("Force Majuere").

9.2 The Bank reserves the right, without prior notice and at its sole discretion, to suspend, restrict, discontinue or deny access to or Your use of Services provided by the Bank:

9.2.1 if You use or the Prepaid Payment Account is used or suspected to be used to defraud any person or entity;

9.2.2 if You use the Prepaid Payment Account to engage in any unlawful activities including without limitation those which would constitute the infringement of intellectual property rights, a civil liability or a criminal offence;

9.2.3 if You engage in any activities that would otherwise create any liability for the Bank or for any of its contractors or agents;

9.2.4 for any suspected discrepancy in the particular(s), online application, documentation provided by the Customer;

9.2.5 any Force Majeure reasons;

9.2.6 if the same is due to technical failure, modification, upgradation, variation, relocation, repair, and/or maintenance due to any emergency or for any technical reasons;

9.2.7 for any suspected violation of the rules, regulations, orders, directions, notifications issued by RBI and/or any other regulatory authority from time to time or for any violation of the terms and conditions mentioned herein; or

9.2.8 if the Bank believes, in its reasonable opinion, that cessation/ suspension is necessary

10. TERMINATION OF PREPAID PAYMENT ACCOUNT

10.1 Customer has the option to close the Prepaid Payment Account at any time. The closure of such Prepaid Payment Account may be communicated to the Bank over email at care@Purnpay.com. Termination will be effective subject to payment of all amounts outstanding on the Prepaid Payment Account and there is no unused Gift Instrument. In case the Customer wishes to close the Prepaid Payment Account and there is balance in the Purnpay Wallet, the Customer can request the Bank to transfer the funds to his/her own bank account (duly verified by the Bank) after complying with the KYC requirements. Balance lying in Gift Instruments cannot be transferred to a bank account in case of closure of the Prepaid Payment Account.

10.2 The Bank may also restrict, terminate or suspend the use of Prepaid Payment Account at any time without prior notice if the Bank reasonably believes it necessary for business or security reasons. The Prepaid Payment Account must not be used after Prepaid Payment Account is suspended for reasons mentioned under Clause 9 of this Document.

10.3 The Bank shall, upon adequate verification, block/suspend/close the Prepaid Payment Account and terminate all facilities in relation thereto following the receipt of such intimation and shall not be liable for any inconvenience or loss caused to the Customer in this regard.

10.4 Any value in Purnpay Wallet which is not utilized or withdrawn within 10 years from the date of issuance will be transferred to the Depositor Education and Awareness Fund. The Bank will send forty five (45) days advance communication to Customer before any forfeiture of outstanding amount in the Prepaid Payment Account by SMS at the mobile number and/or by email at email id which is provided by Customer for use of the Services. It is the responsibility of the Customer to ensure that the information provided by the Customer including the email id and the mobile number is updated at all times.

11. YOUR OTHER OBLIGATIONS

11.1 You shall be solely liable for entering into any Transaction and the risk arising thereof.

11.2 You accept that at Your request and risk, the Bank has agreed to provide You the Prepaid Payment Account and You accept full responsibility for all Transactions recorded by use of Your Prepaid Payment Account.

11.3 An instruction given by means of the Prepaid Payment Account shall be irrevocable.

11.4 You shall, in all circumstances, accept full responsibility for the use of the Prepaid Payment Account, whether or not processed with Your knowledge or Your authority, expressed or implied unless same is covered as per clause 13

11.5 You irrevocably authorize the Bank to debit the amounts utilized by using the Prepaid Payment Account for Transactions from Your Prepaid Payment Account.

11.6 You irrevocably authorize the Bank to debit the amounts utilized by using the Prepaid Payment Account for Transactions from Your Prepaid Payment Account.

11.7 The Bank will employ its best efforts in carrying out the Transactions but will not incur any liability either to the Customer or any other person for any reason whatsoever including for its delay or inability to carry out a Transaction or an instruction.

11.8 Any government charges, or debits, or tax payable as a result of the use of Prepaid Payment Account shall be Your responsibility.

11.9 Amounts due and payable by Customer, if not paid separately shall be recovered by the Bank from the funds available in the Prepaid Payment Account to the extent permitted under Applicable Laws.

11.10 The Bank shall have discretion to not allow You to carry out a Transaction where it has reason to believe that the use of Prepaid Payment Account is not authorized or the Transaction appears ambiguous or unclear or such as to raise a doubt.

12. WINDING UP OF PREPAID PAYMENT ACCOUNT AND CONSEQUENCES THERE TO

12.1 To the extent permitted under Applicable Laws, the Bank may at its sole discretion close or wind up any Prepaid Payment Account Services or amend any of its features with notice to You.

12.2 You hereby agree that, upon any closure or winding up of the Prepaid Payment Account Services, You may redeem the outstanding balance in Your Prepaid Payment Account or transfer the same to any prepaid payment instrument or bank account held/maintained by you with any third party with in such time as may be determined by the Bank, failing which, the Bank may transfer the balance in Your Prepaid Payment Account to Your another prepaid payment instrument issued by such entity having authorisation from RBI and with which the Bank has made appropriate arrangements.

12.3 In the unfortunate event of the death of the Customer, Purnpay acknowledges the importance of providing support to the nominee of the deceased. The nominee can contact Purnpay at care@Purnpay.com for any additional queries or concerns regarding the user's account information/claim(s). Purnpay will make every effort to assist the nominee in accessing and managing the user's account in accordance with our policies and applicable laws.

13. INDEMNITY AND LIMITATION OF LIABILITY

13.1. The liability of the Bank or Customer for any unauthorized transaction shall be:

13.1.1. Zero Liability of a Customer- A customer’s entitlement to zero liability shall arise where the unauthorized transaction occurs in the following manner:

(a) Contributory fraud/ negligence/ deficiency on the part of the bank (irrespective of whether or not the transaction is reported by the Customer)

(b) Third party breach where the deficiency lies neither with the bank nor with the customer but lies elsewhere in the system, and the customer notifies the bank within three working days of receiving the communication from the bank regarding the unauthorised transaction.

13.1.2. Limited Liability of a Customer- A Customer shall be liable for the loss occurring due to unauthorised transactions in the following cases:

(a) In cases where the loss is due to negligence by a customer, such as where he has shared the payment credentials, the Customer will bear the entire loss until he reports the unauthorised transaction to the Bank. Any loss occurring after the reporting of the unauthorised transaction shall be borne by the Bank.

(b) In cases where the responsibility for the unauthorised electronic banking transaction lies neither with the Bank nor with the Customer, but lies elsewhere in the system and when there is a delay (of four to seven working days after receiving the communication from the bank) on the part of the Customer in notifying the Bank of such a transaction, the per transaction liability of the customer shall be limited to the transaction value or Rs 10,000/- whichever is lower.

13.1.3. In case the Customer notifies the Bank after seven working days of receiving the communication from the Bank regarding the unauthorized transaction, the Bank shall evaluate and determine the same as per the Bank’s board approved policy.

Subject to above clause 13.1.2, on being notified of any unathorised trasanction, the Bank shall credit the amount involved in authorised transaction to Customer Prepaid Payment Account if it fails to resolve the complaint within 10 working days from the date of notification.

13.2. The cumulative liability of the Bank to You for any and all other claims (other than claims mentioned in Clause 13.1) relating to or arising out of Your use of the Website or Services, regardless of the form of action, exceed INR 1000/- (Indian Rupees One thousand only) or as per applicable law, whichever is lower.

13.3 In consideration of the Bank providing the Customer with the facility of the Prepaid Payment Account, You hereby agree to indemnify and keep the Bank indemnified from and against all actions, claims, demands, proceedings, losses, damages, personal injury, costs, charges and expenses whatsoever (including lawyer's fees) which the Bank or its service providers may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of directly or indirectly providing the Customer the said facility of the Prepaid Payment Account or by reason of the Bank's acting in good faith and taking or refusing to take or omitting to take action on the Customer's instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; breach or noncompliance of the rules/ terms and conditions relating to the Prepaid Payment Account or breach or noncompliance of Applicable Law or fraud or dishonesty relating to any Transaction by the Customer.

13.4 Without prejudice to the foregoing, the Bank or its authorised service providers shall be under no liability whatsoever to the Customer in respect of any loss or damage arising directly or indirectly out of:

13.4.1 Any issue relating to the Products from Merchant;

13.4.2 the refusal to honour or to accept the Prepaid Payment Account registration;

13.4.3 the malfunction of any computer/point of sale terminal;

13.4.4 effecting Transaction instructions other than by a Customer;

13.4.5 handing over of the Prepaid Payment Account credentials by the Customer to a third Party;

13.4.6 the exercise by the Bank of their right to demand and procure the surrender of the Prepaid Payment Account prior to the expiry, whether such demand and surrender is made and/ or procured by the Bank or by any person or computer terminal.

13.4.7 the exercise by the Bank of their right to terminate any Prepaid Payment Account;

13.4.8 any injury to the credit, character and reputation of the Customer alleged to have been caused by the repossession of the Prepaid Payment Account and/ or, any request for its return or the refusal of any Merchant honour or accept the Prepaid Payment Account;

13.4.9 any misstatement, misrepresentation, error or omission in any details disclosed by the Bank except as otherwise required by law;

13.4.10 If the Bank receives any process, summons, order injunction, execution distrait, levy, lien, information or notice which the Bank in good faith believes/ calls into question the Customer's ability, or the ability of someone purporting to be authorized by the Customer, to transact on the Prepaid Payment Account, the Bank may, at its option and without liability to the Customer or such other person, decline to allow the Customer 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 balance available on the Prepaid Payment Account, a service charge and any expenses it incurs, including without limitation legal fees, due to legal action involving the Customer's Prepaid Payment Account;

13.4.11 In the event a demand or claim for settlement of outstanding dues from the Customer is made, either by the Bank or any person acting on behalf of the Bank, the Customer agrees and acknowledges that such demand or claim shall not amount to be an act of defamation or an act prejudicial to or reflecting upon the character of the Customer, in any manner.

13.5 Each party acknowledges that the other party has entered into these Terms and Conditions relying on the limitations of liability stated herein and that those limitations are an essential basis of the bargain between the parties. The exclusions and limitations of liability contained in this Section 13 shall not apply to damages arising out of or relating to gross negligence or wilful misconduct of a Party; or caused by breach of Applicable Laws, obligation of confidentiality or infringement of intellectual property rights.

14. SPAMMING

14.1 You may not use contact information provided by us or other users or harvest such information for the purpose of sending, or to facilitate the sending, of unsolicited bulk communications such as spam. You may not allow others to use Your account to violate the terms of this section. We may terminate Your membership or access to the Website immediately and take other legal action if You or anyone using Your credentials violates these provisions.

15. ADDITIONAL TERMS

15.1 Certain services on the Website may have additional terms (such as policies, guidelines, and rules) that will further govern Your use of that particular service and supplement these Terms. If You choose to register for or access any such services, You will be presented with any relevant additional terms and conditions at that time. By using those services, You agree to comply with such additional guidelines and rules.

16. DISCLAIMER

16.1 TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE SERVICE IS PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, AND THE BANK HEREBY EXPRESSLY DISCLAIMS ANY AND ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO ANY WARRANTIES OF CONDITION, QUALITY, DURABILITY, PERFORMANCE, ACCURACY, RELIABILITY, AVAILABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. ALL SUCH WARRANTIES, REPRESENTATIONS, CONDITIONS, UNDERTAKINGS AND TERMS ARE HEREBY EXCLUDED. TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE BANK MAKES NO REPRESENTATIONS OR WARRANTIES ABOUT THE VALIDITY, ACCURACY, RELIABILITY, QUALITY, STABILITY, COMPLETENESS OR CURRENTNESS OF ANY INFORMATION PROVIDED ON OR THROUGH THE WEBSITE. Use of the Service is at Your own risk. No advice or information, whether oral or written, obtained by You from the Bank or through the Services will create any warranty not expressly stated herein. Without limiting the foregoing, the Bank does not warrant that the content is accurate, reliable or correct; that the Services will meet Your requirements; that the Services will be available at any particular time or location, uninterrupted or secure; that any defects or errors will be corrected; or that the Services is free of viruses or other harmful components. The Bank will not be liable for any loss or damage whatsoever or howsoever caused or arising, directly or indirectly, including without limitation, as a result of loss of data; interruption or stoppage of access to and/or use of the Services; interruption or stoppage Website; non-availability of connectivity links/hyperlinks.

16.2 Any material downloaded or otherwise obtained through the use of the Service is done at each Customer's sole discretion and risk and each Customer is solely responsible for any damage to its computer system or property or loss of data that results from the download of any such material.

16.3 The Bank does not warrant, endorse, guarantee, or assume responsibility for Products advertised or offered by a third party through the Services or any hyperlinked website or Service, or featured in any banner or other advertising, and the Bank will not be a party to or in any way monitor any Transaction between You and third-party providers of goods and/ or services. Any advertisement by a third party through the Services shall not constitute or deems to constitute as advice or solicitation for sale/purchase of third party products or services by Axis Bank and is not intended to create any rights and obligations.

16.4 The Services are controlled and operated from and in India. The Bank and/or its authorized service provider(s) makes no representations that the Services are appropriate or available for use in other locations. Those who access or use the Services from other jurisdictions do so at their own volition and are entirely responsible for compliance with all Applicable Laws, rules, regulations, guidelines including but not limited to export and import regulations and RBI regulations. You may not use the Service if You are a resident of a country embargoed by the India, or are a foreign person or entity blocked or denied by the Indian government. Unless otherwise explicitly stated, all materials found on the Services are solely directed to individuals, companies, or other entities located in India.

16.5 The Banks sole obligation and Your sole and exclusive remedy in the event of interruption in Services or loss of use and/or access to Services, will be to use all reasonable endeavours to restore the Services and/or access as soon as reasonably possible.

16.6 The Bank makes no representations or guarantees regarding Merchants utilizing Prepaid Payment Account. Use of Prepaid Payment Account in no way represents any endorsement by the Bank of a Merchant's existence, legitimacy/legality, ability, policies, practices, beliefs as well as the Merchants Products and reliability. The Merchant alone will be responsible to the Customer and neither we nor anybody connected to us will have any responsibility or liability towards the Customer for goods and services purchased from the Merchant.

16.7 The relationship between the Bank and the Merchant is on principal-to-principal basis.

17. ADDITION, ALTERATION, WITHDRAWAL OF SERVICES AND AMENDMNET OF TERMS & CONDITIONS :

17.1 The Bank may, at its sole discretion, and to the extent permissible under Applicable Laws, make available to the Customer more services or make alteration in the services on the Prepaid Payment Account, point of sale terminals, internet or other wise and/ or other devices through shared networks for the Customer's convenience and use. All fees and charges related to Transactions done by the Customer at these devices as determined by the Bank from time to time will be recovered by a debit to the balance available on the Prepaid Payment Account. The Customer 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 Customer, be entitled to withdraw, discontinue, cancel, suspend/ or terminate the facility to use the Prepaid Payment Account and/ or services related to it, at POS Terminal/ Internet/ other devices within India and shall not be liable to the Customer for any loss or damage suffered by him resulting in any way from such withdrawal, discontinuance, cancellation, suspension or termination.

17.2 We have the right, at our sole and absolute discretion, to change, modify, or amend any portion of these Terms of Service at any time by posting notification on https://www.Purnpay.in or otherwise communicating the notification to You. The changes will become effective, and shall be deemed accepted by You, after the initial posting and shall apply on a going-forward basis with respect to Transactions initiated after the posting date. You should make sure You view these Terms and Conditions periodically to make sure You are familiar with their most recent version. In the event that You do not agree with any such modification, Your sole and exclusive remedy is to terminate Your use of the Services.

18. DISCLOSURE OF INFORMATION AND INTELLECTUAL PROPERTY RIGHTS

18.1 The Bank reserves the right to disclose the Customer's information to any court of competent jurisdiction, quasi-judicial authorities, law enforcement agencies, regulatory authority and any other wing of Central Government or State Government. The Customer hereby consents to sharing of their information with the Bank and its authorized service provider(s) or agencies or partners for providing Services in relation to the Prepaid Payment Account.

18.2 Any information relating to the Customer is generally used to provide the Services, improve the Services and otherwise for a detailed overview of what kind of information that the Bank collects, stores, uses, shares, please go through the privacy policy available on the Website.

18.3 The user interfaces, graphics, logos, design, compilation, information, computer code (including source code and object code), products, software, services, and all other elements of the Service provided by the Bank are protected by copyright, designs, patent, and trademark laws, international conventions and other applicable intellectual property and proprietary rights of either the Bank or authorised service provider(s) of the Bank.

18.4 Nothing contained herein shall authorize the Customer to use, apply, invade or in any manner exploit or infringe the intellectual property rights of the Bank, and the usage of the same shall be in compliance with these Terms and Conditions and such approval and policies as may be notified from time to time. In addition, Customer undertakes not to infringe the intellectual property rights of any third party.

18.5 The Customer undertakes not to infringe the intellectual property rights of the Bank, whether directly or indirectly through any third party. The Customer warrants that it shall only use the Website, software application and the Services for the purposes of these Terms and Conditions. Customer or any other person empowered by the Customer shall not use the Website and software application and/or the Bank’s services and software in any form whatsoever, so as to:

18.5.1 design, realize, distribute or market a similar or equivalent software program;

18.5.2 adapt, modify, transform or rearrange the Bank or its third party service provider's software applications and Website or Merchant website for any reason whatsoever, including for the purpose, among other things, of creating a new software program or a derivative software program;

18.5.3 allow unauthorized use of or access to the Bank software applications and Merchant's website;

18.5.4 disassemble, reverse engineer, decompile, decode or attempt to decode the Bank software applications and Merchant's website;

18.5.5 allow the Bank software applications and Merchant's website to be disassembled, reverse engineered, decompiled or decoded; and/or

18.5.6 in any way override or break down any protection system integrated into the Bank software applications and Merchant's website.

19. DISPUTES

19.1 These Terms and Conditions will be governed by and be construed in accordance with the laws of India. All disputes are subject to the exclusive jurisdiction of the Courts in New Delhi, irrespective of whether any other Court may have concurrent jurisdiction in the matter. Each party hereby irrevocably waives any objection which such party may now or hereafter have to the laying of improper venue or forum non convenience. Each party agrees that a judgment in any such action or proceeding may be enforced in other jurisdictions by suit on the judgment or in any manner provided by law.

20. COMMUNICATION

20.1 When You use the Services or send emails or other data, information or communication to the Bank, You are aware of the risks involved in sending email Instructions, including the risk that email Instructions may: (a) be fraudulently or mistakenly written, altered or sent; and (b) not be received in whole or in part by the intended recipient; You declare and confirm that the You are fully aware of and having duly considered, the risks involved, (which risks shall be borne fully by You) have requested and authorised the Bank to rely upon and act on Instructions which may from time to time be given by email as mentioned above. The Bank may (but shall not be obliged to) act as aforesaid without inquiry as to You identity or authority giving or purporting to give any instruction or as to the authenticity of any email message and may treat the same as fully authorised by and binding on You regardless of the circumstances prevailing at the time of the instruction and notwithstanding any error, misunderstanding, lack of clarity, fraud, forgery, or lack of authority in relation thereto, and without requiring any confirmation provided that the concerned person acting on behalf of the Bank believed the instruction to be genuine at the time it was acted upon.

20.2 You consent to receive communications via electronic records from the Bank periodically and as and when required. The Bank will communicate with You by email or by notices on Your Prepaid Payment Account or electronic records on the Website which will be deemed adequate service of notice / electronic record. You hereby waive all your rights to challenge the service of documents under any and all legal proceedings if the document is served on your designated electronic address including Your Prepaid Payment Account in terms of Information Technology Act, 2000.

20.3 Notwithstanding anything contained herein or elsewhere, the Bank shall not be bound to act in accordance with the whole or any part of the instructions or directions contained in any Instruction and may in its sole discretion and exclusive determination, decline or omit to act pursuant to any instruction, or defer acting in accordance with any instruction, and the same shall be at Your risk and the Bank shall not be liable for the consequences of any such refusal or omission to act or deferment of action.

20.4 Customers can contact the Bank at any of the below mentioned points: Email to care@Purnpay.com.

21. FEES AND CHARGES

21.1 All fees and charges related to Prepaid Payment Account, as determined by the Bank will be recovered by a debit to the Prepaid Payment Account or through other means as available and applicable. The fee is not refundable. Any government charges, duty or debits, or tax payable as a result of the use of the Prepaid Payment Account shall be the Customer's responsibility and if imposed upon the Bank (either directly or indirectly), the Bank shall debit such charges, duty or tax against the Prepaid Payment Account.

21.2. The Bank reserves the right at any time to charge the Customer any fees/ charges after providing one month prior notice for the Transactions carried out by using Your Prepaid Payment Account.

21.3 Charges applicable for using Prepaid Payment Account are subject to change from time to time at the discretion of the Bank. Details of the currently applicable fees and charges as stipulated by the Bank, will be displayed on the Website.

Existing Fees/ Schedule of Charges :

Goods and Service Tax, unless explicitly stated in this Schedule of Charges, as may be applicable from time to time on all fees, surcharge and other charges will be levied to the Customer.

22. GENERAL PROVISIONS

22.1 Assignment: You cannot assign or otherwise transfer this Agreements, or any rights granted hereunder or any obligations, to any third party and any such assignment or transfer or purported assignment or transfer shall be void ab initio. The Bank's rights and/or obligations under the Agreement are freely assignable or otherwise transferable by the Bank to any third parties without the requirement of seeking Your prior consent. The Bank may inform You of such assignment or transfer in accordance with the notice requirements under the Agreement on best effort basis.

22.2 Severability: If, for any reason, a court of competent jurisdiction finds any provision of the Agreement, or portion thereof, to be unenforceable, that provision shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties as reflected by that provision, and the remainder of the Agreement shall continue in full force and effect. The Bank may amend in a reasonable manner such provision to make it enforceable and such amendment will be given effect in accordance with the amendment terms of this Agreement.

22.3 Waiver : Any failure or delay by a party to enforce or exercise any provision of the Agreement, or any related right, shall not constitute a waiver by such party of that provision or right. The exercise of one or more of a party’s rights hereunder shall not be a waiver of, or preclude the exercise of, any rights or remedies available to such party under this Agreement or in law or at equity. Any waiver by a party shall only be made in writing and executed by a duly authorized officer of such party.

22.4 Force Majeure : If performance of any service or obligation under this Agreement by the Bank is prevented, restricted, delayed or interfered with by reason of labor disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, unavailability of any communication system, breach, interruption or breakdown or virus/malware/bugs in the processes or systems used for provision of Services, computer hacking, unauthorized access to computer data and storage devise, computer crashes, breach of security and encryption, etc. or any other act whatsoever, whether similar or dissimilar to those referred to in this clause, which are beyond the reasonable control of the Bank or its third parties performing such services as sub-contractor to the Bank and could not have been prevented by reasonable precautions (each, a "Force Majeure Event"), then the Bank shall be excused from such performance to the extent of and during the period of such Force Majeure Event. The Bank shall exercise all reasonable commercial efforts to continue to perform its obligations hereunder.

22.5 Notwithstanding the foregoing, such terms of this Agreement as are meant to survive termination / expiry of this Agreement, will survive indefinitely unless and until the Bank chooses to terminate them.

22.6 If You have any questions or concerns about this Agreement, please send us a thorough description to care@Purnpay.com. We strive to respond to all User requests.

22.7 If You have any questions or claims of copyright infringement, please contact us at care@purnpay.com

Last Updated on October 26, 2024

In terms of Information Technology Act, 2000, this document is an electronic record, being generated by a computer system and it does not require any physical or digital signature.

Purnpay Payment Technologies Private Limited (“Purnpay,” “We,” “Our,” or “Us”) is registered with Association of Mutual Funds in India (“AMFI”) with ARN 146145. Purnpay is a sub-distributor of Axis Securities Limited (“ASL”) which is registered with AMFI with ARN 64610 and acts as a distributor of mutual funds for various asset management companies.

By accepting these terms and conditions, You agree to be bound by the Terms of Use for Purnpay Account (“Terms of Use”), these additional terms and conditions for mutual fund distribution services (“Mutual Fund Terms”) and the Purnpay Privacy Policy. These terms and conditions are published in accordance with the provisions of Rule 3 (1) of the Information Technology (Intermediaries Guidelines) Rules, 2011 that require publishing the rules and regulations, privacy policy and user agreement for access or usage of the intermediary's computer resource by any person.

We request You to read the contents of Mutual Fund Terms carefully. If You disagree with the Mutual Fund Terms, Terms of Use, Privacy Policy and/or disclaimers, We request You to not signup or avail Our mutual fund distribution services (“Distribution Services”).

I. Definitions/Interpretation

a. "Applicable Laws" shall mean all laws, ordinance, statutes, rules, orders, decrees, injunctions, licences, permits, approvals, authorisations, consents, waivers, privileges, agreements, and regulations of any governmental, regulatory and/or statutory authority having jurisdiction over the relevant matter as such which are in effect as of the date hereof or as may be amended, modified, enacted, or revoked from time to time hereafter.

b. "AMC" An asset management company (AMC) is a company that invests its clients' pooled funds into securities through mutual funds.

c. "AMFI" means Association of Mutual Funds in India.

d. "NPCI" means National Payments Commission of India.

e. "RBI" means Reserve Bank of India.

f. "SEBI" means the Securities & Exchange Board of India.

g. "KYC" KYC shall mean all requirements with respect to KYC Registration Agency as per the SEBI KYC (Know Your Client) Registration Agency Regulations, 2011 and/or the SEBI Master Circular dated July 04, 2018 issued on Guidelines on Anti-Money Laundering Standards and Combating the Financing of Terrorism /Obligations of Securities Market Intermediaries under the Prevention of Money Laundering Act, 2002 and rules framed there under (as amended from time to time ) (“SEBI KYC Master Circular”) along with SEBI Circular on e-KYC and all other circulars issued from time to time for a user to be compliant with the KYC related regulatory requirements in this regard.

h. “Platform” shall mean the Purnpay mobile application, website and/or m-site.

i. "Offer Documents" shall mean the Statement of Additional Information, Scheme Information Document, Key Information Memorandum and addenda issued from time to time by AMC.

II. The words “User/him/his/her/You/Your/Investor” under the Mutual Fund Terms refer to the person(s) who use and avail Distribution Services and shall include singular and plural. The Distribution Services provided herein is only for Users who are Indian citizens and tax residents of India. Without prejudice to any other specific requirement which may be laid out in these Mutual Fund Terms, Your use of the Distribution Services and specifically, Your acceptance of these Mutual Fund Terms as aforesaid shall be deemed to be a representation from You that You are above 18 years of age, and are fully able, conscious and competent to enter into these Mutual Fund Terms and make Your investment decisions, execute the investment transactions, evaluate the advice, if any, and confirm to abide by and comply with the terms set forth herein. While individuals under the age of 18 may utilize the Distribution Services, they shall do so only with parents and / or legal guardians acting on their behalf. If You do not qualify, please do not access, or use the Distribution Services.

III. The User agrees to provide all the necessary information and documents (“KYC Information”) to Purnpay so as to enable them to complete User's KYC verification with a KYC Registration Agency (“KRA”), registered under the SEBI (KYC Registration Agency) Regulations, 2011, including e-KYC or central KYC or any other process as specified in SEBI/AMFI circulars from time to time. The User understands and agrees that for the purpose of KYC verification, Purnpay shall share the User’s KYC Information with third parties including but not limited to AMCs/ KRAs. Such KYC verification is required to comply with the SEBI KYC Master Circular and any other circulars issued thereunder by SEBI/AMFI. The User agrees and understands that he/she shall be solely liable to inform Purnpay and/or the AMC in case of any change in his/her KYC information including change in signature/ signatories etc. and in the event of the User’s signature not being updated, available or legible in KYC records / change in resident status / change in FATCA & CRS declaration. Purnpay and/or the AMC would be within its rights to carry out further checks to validate the authenticity of the request or reject any such offline request based on existing KYC information.

IV. The User has read and understood the contents of the Offer Documents like Scheme Information Document, Statement of Additional Information, Key information Memorandum, Instructions and agrees to abide by the Terms and Conditions, rules and regulations of the Mutual Fund/Scheme and Online Facility in which User Invest.

V. The User confirms that the User has neither received nor have been induced by any rebate or gifts, directly or indirectly, in making this investment and no obligation was imposed on the User to avail the Distribution Services offered by Purnpay.

VI. All payments should be through legitimate source and should be in compliance with the policies and guidelines laid down by RBI, NPCI, SEBI, through the User’s own bank account only. In case of a joint bank account, the User should be one of the holders of such bank account and should also be authorized by the other bank account holder to make such purchase through the Distribution Services offered by Purnpay.

VII. In case of micro investments, the User confirms that the User does not have any existing micro systematic investment plan /lumpsum investments which together with the current application will result in aggregate investments exceeding Rs. 50,000 in a year.

VIII. The User understands that investment instructions placed by the User through the Platform may be delayed or rejected or not executed by the AMC for any reason including but limited to non-availability of sufficient funds in the User’s linked bank account, technical or connectivity failure and will not hold ASL / Purnpay liable for any damages, loss or costs for such incidents User shall ensure that sufficient funds are available for SIP transactions and will not hold ASL or Purnpay liable.

IX. The User undertakes and agrees that the said investments do not contravene any Applicable Laws including but not limited to provisions of the Income Tax Act, 1961; anti-money laundering laws, anti-corruption Laws enacted by the government of India from time to time or by any other regulatory or statutory body.

X. User confirms that all details provided by him / her are true and correct and agrees to produce any documents / undertaking as may be required by Purnpay/ASL/ AMCs or their /Register and Transfer Agent (RTA) for verification.

XI. The User acknowledges and understands that only schemes of those mutual funds will be available on the Platform for which ASL has entered into agreements with AMCs and that in event of termination of agreement or for any other reason, the AMC may at its sole discretion discontinue providing information in relation to transaction by the User in mutual fund scheme through the Platform. In such event, the User needs to directly contact/coordinate with AMC.

XII. User confirms that the AMC / ASL/ Purnpay / RTA shall, at its sole discretion, hold an unfettered right to reject any application / transaction by the User in mutual fund scheme through the Purnpay Platform where any data, information, document and/or detail provided by the User is determined to be discrepant, inaccurate, false, incomplete or erroneous, misleading, incorrect, ambiguous, and cancel allotment of units and refund the amount or in case units have been allotted, freeze the folio or redeem the units at applicable NAV without any liability or responsibility for any loss or damages suffered by the User of any nature. The User also agrees that the decision of the AMC and/or RTA in such a situation shall be final and binding on the User. In case User has entered wrong/third party bank details at the time of signup, the User agrees to co-operate with AMC / ASL/ Purnpay/ RTA to provide incremental details as may be required by AMC / ASL/ Purnpay/ RTA to complete the verification or otherwise the transaction initiated by the User is liable to be rejected by AMC/Purnpay/ RTA.

XIII. The User acknowledges that Purnpay has disclosed to the User, all the commissions (in the form of trail commission or any other mode), payable to ASL for the different competing schemes of various mutual funds.

XIV. User hereby allows ASL and Purnpay to provide electronic confirmation feeds to the AMC regarding acceptance of these Mutual Fund Terms by the User for doing online electronic transaction and such other confirmation/document/details as may be required by the AMC from time to time relating to the User as may be required under Applicable Laws.

XV. Mutual fund transactions will be processed in accordance with cutoff times for mutual fund transactions prescribed by SEBI. Any investments close to or beyond the cut off time or any request on a holiday would be processed on the next business day and there can be loss in net asset value for which the User will not hold ASL / Purnpay liable.

XVI. We may engage with third parties to promote Our Distribution Services through their platforms. Users accessing the Purnpay Platform through such platforms will be subject to these Mutual Fund Terms in addition to the Terms of Use and any other additional terms and conditions which may be applicable. For the sake of clarity, such third parties shall not be responsible for rendering of the Distribution Services, which shall at all times be provided by Purnpay.

XVII. User authorizes Purnpay to share his / her signatures with AMCs and RTAs, available on the records of the KRA or central KYC for authenticating and processing of requests. In case the User’s signature is not available with KRA/ central KYC, the User shall cooperate with AMC/Purnpay/RTA to provide incremental details as may be required by AMC/Purnpay/RTA to complete verification.

XVIII. User hereby gives consent to the concerned AMC and/or RTA with respect to sharing information, with ASL and Purnpay, in any manner, with respect to the User and any transaction undertaken by the User in the mutual fund scheme executed through the Platform. The User acknowledges that Purnpay would be privy to such information.

XIX. User hereby authorize Purnpay and its affiliates, representatives, and agents to provide promotional information about various products, offers and services provided by them or their group companies through any mode including telephone calls, Emails, SMS, letters etc. and You confirm that laws in relation to unsolicited communication referred in "National Do Not Call Registry" as laid down by "Telecom Regulatory Authority of India" will not be applicable for such information/ communication.

XX. The User understands and agrees that when the User makes an investment through the Platform, the payment transaction is processed by a third-party payment gateway aggregator and the investment amount is remitted directly to the respective AMC's bank account. At no time does Purnpay process receive or hold the investment amount in its bank account. Thus, in no event shall ASL/ Purnpay be liable to You for claims, losses, or damages of any nature whatsoever, arising from or due to failure of payment transactions, delay in credit of amount to the AMC or for any fraud at the payment gateway's end or the bank's end at the time of making such payment.

XXI. Refund/Cancellation Policy

a. Transactions will be completed only after successful transfer of money from the User's bank account registered with Purnpay to the respective AMC’s bank account.

b. Transactions once completed cannot be cancelled by the user.

c. In case transfer of money is successful but there is failure of investment transaction, money would be refunded to the User’s registered bank account with Purnpay.

XXII. Prospectus : For information regarding a fund's investment objectives, load, expenses, and risk considerations, please download the Offer Document. Please read the Offer Document of relevant mutual fund scheme carefully before investing.

XXIII. Risk Factors: Investments in mutual funds and securities are subject to market risks and the NAV of the schemes may fluctuate depending upon the factors and forces affecting the securities market including inter alia fluctuations in the interest rates. There can be no guarantee that a scheme's investment objectives will be achieved. All dividend distributions are subject to the investment performance of the schemes. The investments made by the schemes are subject to external risks. The User shall consider the performance track records of the scheme before making investment in any scheme. The Platform is not intended to provide any tax, legal or investment advice, and nothing on the Platform should be construed as a recommendation, by Purnpay, to acquire or dispose of any investment or security, or to engage in any investment transaction. The Platform is an online platform provided by Purnpay which lists plans of select schemes of various mutual funds and enables Users to transact in such schemes. Purnpay may receive a compensation, for the execution services provided by Purnpay towards investment in plans, from the AMCs. Except as otherwise specified, the User alone are solely responsible for determining whether any investment, security, or any other service, is appropriate or suitable for the User based on their investment objectives and personal and financial situation. The User confirms that he/ she has requisite knowledge and experience to understand the risks involved in making an investment into a scheme and has the ability to bear such investment related risk and the User should consult a legal or tax professional regarding their specific legal or tax queries. Access and use of the Platform is entirely at Your own risk. The Platform, including any content or information on it, any related or linked site, products and services displayed, provided, availed of, licensed or purchased on, through or via the Platform are provided "as is," without any representation or warranty/guarantee of any kind, either express or implied, including without limitation, any representation or warranty for accuracy, continuity, uninterrupted access, timeliness, sequence, quality, performance, fitness for any particular purpose or completeness. In addition to any warranties/guarantees disclaimed in the Terms of Use, Purnpay specifically disclaims any and all “warranties" or guarantees" including, but not limited to:

a. Any warranties concerning the availability, accuracy, usefulness, correctness, currency or completeness of information, products, or services, and

b. The information and views contained herein are based on information available and believed to be correct to the best of Our knowledge. Although due care has been exercised to verify the accuracy of the information, ASL, Purnpay and their information suppliers do not assume responsibility for the accuracy or for any loss arising out of any information contained herein. This is neither a solicitation to invest in any product nor to avail of a particular service. ASL and Purnpay do not warrant or make any representations regarding the use or the results of the use of any product, service in terms of its compatibility, correctness, accuracy, reliability or otherwise. You assume total responsibility and risk for Your access and use of the Platform, all site-related or app related services, products and services mentioned or advertised on or accessed or availed on or through the Platform. You acknowledge that any warranty that is provided in connection with any of the products or services described on the Platform are provided solely by the owner, advertiser, manufacturer, provider or supplier of that product or service, and not by Purnpay or the Platform.

c. If any disclaimers or limitation of liability in these Mutual Fund Terms are held to be unenforceable, the maximum liability of ASL and/or Purnpay to You shall not exceed the amount of commission received by ASL from the respective AMC for the mutual fund product, that You have ordered or availed of on or through the Platform, with respect to which the dispute has arisen. ASL and/or Purnpay shall not be responsible for any inability to access the Platform or any use or misuse of the Platform. Any search results displayed by or on the Platform are automated and cannot be screened. Accordingly, ASL and Purnpay assume no responsibility for the accuracy or otherwise of any search results or of the content of any Platform included in the search results or otherwise linked to the Platform.

d. You will be solely responsible for maintaining the confidentiality of Your account and password. You undertake not to share Your password with anyone and agree to accept responsibility for all activities occurring under Your account or password and ASL/ Purnpay will not be liable for its misuse. Please notify Purnpay immediately if You become aware of any disclosure, loss, theft, or unauthorized use of Your password.

e. ASL and/or Purnpay shall not be responsible for any unauthorized interception of e-mail to or from You or Purnpay. To the extent possible, the disclaimers, limitations on liability and indemnities available to ASL and/or Purnpay under the Terms and Conditions shall mutatis mutandis extend and be available also to the third-party service providers or any other partner and their respective directors, officers, employees, agents, successors, assigns, consultants, sponsors, affiliates, content providers and everyone involved in creating, producing, delivering or managing the Platform (or any part thereof). Although Purnpay endeavors to ensure the integrity of the Platform, they make no guarantee whatsoever as to its sequence, timeliness, completeness, correctness, or accuracy. In the event that such an inaccuracy or incompleteness arises, please inform Purnpay so that it can be corrected. Links from the Platform on certain portions or links within the Platform might take You to other Platforms or mobile applications without any intimation or indication of doing or having done so. The linked Platforms or applications are not under the control of Purnpay and Purnpay assumes no responsibility whatsoever for such other Platforms or applications whether as to content, availability, performance or otherwise. Purnpay also does not represent or warrant that these links shall operate satisfactorily. Purnpay provides these links only as a convenience and links to external web sites do not constitute an endorsement by Purnpay of such other sites, the sponsors of such sites or the content, products, advertising, or other materials presented on or by such sites. Purnpay shall not be responsible or liable, directly, or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the access or use of such other Platforms/applications or reliance on or availing of any content, goods, or services available on such other sites. For informational or educational purposes, or as a convenience to the Users, the Platform may provide referrals to third party content or links to third party websites/mobile application, including companies that have a relationship with Purnpay. Our decision to provide referral information to a third party or to pass on an offer made by a third party or to provide a link from Platform to a third-party website or mobile application shall not be construed as an endorsement of the third party products, services, content, tools, and information. You will use third-party content at Your own risk. It may be noted that ASL is in no way involved or concerned with such third party referral transactions through Purnpay’s sub distributor platform or otherwise and will not be liable for the same as a mutual fund distributor. Purnpay is not responsible for any third party, their products or services, their website or mobile application, or any content made available through such third-party sites, nor do We make any warranties or representations, express or implied, regarding third party content on any third party sites, and shall have no liability in relation to any of the foregoing. You shall agree to all the terms and conditions, disclaimers clauses and be liable to copyright owners of the hyperlinks appearing in the Platform which is independent in itself and not connected. You shall further indemnify and keep indemnified Purnpay, Purnpay's parent, partner's, subsidiaries, group and associate companies and its employees, directors, representatives and keep them harmless from any dispute(s) that may arise due to a violation/breach(s) of the Terms and Conditions of such hyper link(s) by You. You will be solely responsible for maintaining the confidentiality of the account that You create on the Platform. Purnpay does not limit, favour, or restrict any of the schemes available on its Platform while performing search, filter, or sort options. The order of search results based on the ranking provided by a third party and not indicative of performance or recommendation should not be considered as Purnpay opinion to invest or not to invest. It is solely up to the User to decide to select or reject any scheme. Purnpay shows most relevant results based on the User's search query. Estimation on return is indicative based on the past performance and should not be considered as a promise, assurance or guarantee of future returns. The User declares that transactions executed by the User are without any interaction or advice by the employee/relationship manager/sales person of Purnpay or notwithstanding the advice of in- appropriateness, if any, provided by the employee/relationship manager/salesperson of Purnpay.

f. Purnpay declares that it shall merely act as a sub-distributor, offering services to the User in terms of the provisions contained under its agreements with ASL. Purnpay declares that it shall at no time, provide or cause to provide any advice relating to investing in, purchasing, selling, or otherwise dealing in securities or investment products and provide or cause to provide any advice on investment portfolio containing securities or investment products to the Users. Purnpay shall not act as an investment advisor or consultant in offering the schemes of AMCs and shall offer services to the Users in terms of its agreement with AMCs/RTA and the terms and conditions governing the usage of Platform.

XXIV. Conflict of Interest Disclosure: ASL and Purnpay are wholly owned subsidiaries of Axis Bank Limited. Axis Bank Limited is the majority shareholder in Axis Asset Management Company Limited (“Axis AMC”). In carrying on business as a mutual fund distributor, ASL/Purnpay may from time to time act as distributor of mutual funds for Axis AMC. Conflict of interest resulting from the above relationship are minimized by regulations, policies and procedures made by SEBI and industry regulating bodies such as AMFI and internal conflict of interest policies and maintaining of arms – length relationship between Axis AMC, ASL and Purnpay. Compliance with both internal and external regulations, policies and procedures are monitored at all levels of the company under the guidance of ASL/Purnpay’s compliance department.

XXV. Indemnity: You agree to indemnify, save, and hold Purnpay/ ASL/ the AMC / Mutual Fund, their affiliates, employees, officers, directors and partners harmless from any and all claims, losses, damages, and liabilities, costs and expenses, including without limitation legal fees and expenses, arising out of or related to: (i) Your use or misuse of the Distribution Services/Platform; (ii) any violation by You of these Mutual Fund Terms or applicable Laws; or (iii) any breach of the representations, warranties, and covenants made by You herein; or (iv) any act, neglect, misconduct or fraud on Your part; or (v) sharing and or disclosing the information disclosed hereunder or (vi) system failure or connectivity issue. Purnpay reserves the right, at Your expense, to assume the exclusive defense and control of any matter for which You are required to indemnify Purnpay, including rights to settle, and You agree to cooperate with Purnpay’s defense and settlement of these claims. Purnpay will use reasonable efforts to notify You of any claim, action, or proceeding brought by a third party that is subject to the foregoing indemnification upon becoming aware of it. This paragraph shall survive termination of these Mutual Fund Terms.

XXVI. Termination: You acknowledge and agree that Purnpay may, without notice, suspend or terminate Your ID, password or account or deny You access to all or part of the Platform and/or Distribution Services without prior notice if You engage in any conduct or activities that Purnpay in its sole discretion believes it violates any of the Mutual Fund Terms, or the rights of Purnpay, or is otherwise inappropriate for continued access or as per its Information Security Policy or If Purnpay learns of Your death, bankruptcy or lack of legal capacity or of circumstances which impact Your credit worthiness (which shall be determined at the sole discretion of Purnpay) or for any other reason which Purnpay thinks fit and proper. You acknowledge and agree that Purnpay may in its sole discretion deny You access to any materials stored with Purnpay, or to access third party services, or information on the Platform, and Purnpay shall have no responsibility to notify You or third-party providers of facilities, services, merchandise or information nor for any consequences resulting from lack of notification.

Purnpay may also suspend / freeze The User's account on directions received from regulatory or government bodies and authorities.

XXVII. Governing Law and Jurisdiction: These Mutual Fund Terms, all transactions entered into on or through the Platform and the relationship between You and Purnpay shall be governed by and construed in accordance with the laws of India and no other nation, without regard to the laws relating to conflicts of law. You and Purnpay agree that all claims, differences, and disputes arising under or in connection with or pursuant to the Distribution Services, these Mutual Fund Terms, any transactions entered into on or through the Platform or the relationship between You and Purnpay shall be subject to the exclusive jurisdiction of the competent courts located in the city of New Delhi, India and You hereby accede to and accept the jurisdiction of such courts. Provided that, notwithstanding what is stated above, if Purnpay thinks fit, may institute proceedings against You in any other court or tribunal having jurisdiction. Purnpay 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 Platform or the App can be accessed or used or any facility can be availed of in a country other than India would not mean that the laws of such country would be applicable.

XXVIII. Grievance Redressal: Purnpay is a mutual fund sub-distributor/intermediary and is empaneled with ASL which is in turn registered as a distributor / intermediary with various AMCs and their respective RTAs for purpose of execution of investment decisions of Users. Purnpay’s ability of providing the User service and addressing the User’s query depends on the information that We have.

Level 1 If You have any grievances / complaints / concerns with respect to Purnpay Services, please approach Our Customer Support via the Purnpay mobile application or write to Us at care@Purnpay.in.

Level 2 If Your issue is unresolved after a period of 15 days from the date of first raising the issue at Level 1 or if You are not satisfied with the response provided at Level 1, You may, post completion of a 15 day period from the date of first raising the issue at Level 1, write to the grievance officer, at grievanceofficer@Purnpay.com.

XXIX. Additional Terms and Conditions of Reliance Nippon Life Asset Management Company Limited : By accessing and using the Distribution Services, You hereby undertake the following:
“I/We would like to invest in Reliance Mutual Fund products subject to terms of the Statement of Additional Information (SAI), Scheme Information Document (SID), Key Information Memorandum (KIM) and subsequent amendments thereto. I/We have read, understood (before filling application form) and is/are bound by the details of the SAI, SID & KIM including details relating to various services including but not limited to Reliance Any Time Money Card. I/We have not received nor been induced by any rebate or gifts, directly or indirectly, in making this investment. I / We declare that the amount invested in the Scheme is through legitimate sources only and is not designed for the purpose of contravention or evasion of any Act / Regulations / Rules / Notifications / Directions or any other Applicable Laws enacted by the Government of India or any Statutory Authority. I accept and agree to be bound by the said Terms and Conditions including those excluding/ limiting the Reliance Nippon Life Asset Management Limited (formerly Reliance Capital Asset Management Limited) (RNLAM) liability. I understand that the RNLAM may, at its absolute discretion, discontinue any of the services completely or partially without any prior notice to me. I agree RNLAM can debit from my folio for the service charges as applicable from time to time. The ARN holder has disclosed to me/us all the commissions (in the form of trail commission or any other mode), pay able to him for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to me/us. I hereby declare that the above information is given by the undersigned and particulars given by me/us are correct and complete. Further, I agree that the transaction charge (if applicable) shall be deducted from the subscription amount and the said charges shall be paid to the distributors. I confirm that I am resident of India. I hereby declare that the information provided in the Form is in accordance with section 285BA of the Income Tax Act, 1961 read with Rules 114F to 114H of the Income Tax Rules, 1962 and the information provided by me /us in the Form, its supporting Annexures as well as in the documentary evidence provided by me/us are, to the best of our knowledge and belief, true, correct and complete.

XXX. Additional Terms and Conditions of Reliance Nippon Life Asset Management Company Limited & Mirae Asset Investment Managers (India) Pvt Ltd (MAIMI): By accessing and using the Distribution Services, You hereby undertake the following:
“I/We would like to invest in Mirae Asset Mutual Fund products subject to terms of the Statement of Additional Information (SAI), Scheme Information Document (SID), Key Information Memorandum (KIM) and subsequent amendments thereto. I/We have read, understood (before filling application form) and is/are bound by the details of the SAI, SID & KIM including details relating to various services including but not limited to Any Time Money Card. I/We have not received nor been induced by any rebate or gifts, directly or indirectly, in making this investment. I / We declare that the amount invested in the Scheme is through legitimate sources only and is not designed for the purpose of contravention or evasion of any Act / Regulations / Rules / Notifications / Directions or any other Applicable Laws enacted by the Government of India or any Statutory Authority. I accept and agree to be bound by the said Terms and Conditions including those excluding/ limiting the Mirae Asset Investment Managers (India) Pvt Ltd liability. I understand that the MAIMI may, at its absolute discretion, discontinue any of the services completely or partially without any prior notice to me. I agree MAIMI can debit from my folio for the service charges as applicable from time to time. The ARN holder has disclosed to me/us all the commissions (in the form of trail commission or any other mode), pay able to him for the different competing Schemes of various Mutual Funds from amongst which the Scheme is being recommended to me/us. I hereby declare that the above information is given by the undersigned and particulars given by me/us are correct and complete. Further, I agree that the transaction charge (if applicable) shall be deducted from the subscription amount and the said charges shall be paid to the distributors. I confirm that I am resident of India. I hereby declare that the information provided in the Form is in accordance with section 285BA of the Income Tax Act, 1961 read with Rules 114F to 114H of the Income Tax Rules, 1962 and the information provided by me /us in the Form, its supporting Annexures as well as in the documentary evidence provided by me/us are, to the best of our knowledge and belief, true, correct and complete”

These terms and conditions regulate the payments under the Unified Payment Interface ("UPI"), a payment service platform ("UPI Platform") developed by National Payments Corporation of India ("NPCI"), an umbrella organisation incorporated in 2008 and acting as the settlement/clearing house/regulatory agency for UPI services. The application software ("Purnpay App") which connects to the UPI Platform is being offered by Purnpay Payment Technologies Private Limited a company incorporated under the Companies Act, 2013 with its registered office at 11^th Floor, Tower C, DLF Cyber Greens, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122022, India (hereinafter referred to as "Purnpay") in partnership/association with Axis Bank Limited ("Axis Bank"), a bank licensed under the Banking Regulation Act, 1949.

By using the UPI services (“UPI Services”) provided by Purnpay Payment Technologies Private Limited (“Purnpay,” “We,” “Our,” or “Us”), You agree to be bound by the Terms of Use for Purnpay (“Terms of Use”), these additional terms of use for Purnpay UPI (“UPI Terms”) and all other terms, policies, and guidelines applicable to the Services (as defined in the Terms of Use) so used. Defined terms will have the same meaning as those found in the Terms of Use, unless otherwise re-defined herein.

These terms apply to You if You register for and use the UPI Services as described hereinafter. The UPI Services are being offered under the brand "Purnpay".

1. For the purpose of these UPI Terms, wherever the context so requires:
   1. 'You/Your' or "User" shall mean any natural or legal person who has registered for Purnpay Services, linked his/her bank account for UPI payments and who has accepted these UPI Terms.
   2. "We", "Us", "Our" shall mean Purnpay Payment Technologies Private Limited.
   3. "Merchant" shall include any establishment and/or entity which accepts the UPI payments through Purnpay App ("Purnpay UPI") as a payment method for online or offline purchase of goods and/or services
   4. "Buyer" shall refer to the person who purchases any of the goods or services provided online or offline by the Merchants.
2. If You transact using the Purnpay App or any Merchant website/ merchant platform, these conditions will be applicable. By mere use of the Purnpay App, You shall be contracting with Purnpay and these terms and conditions including the policies constitute Your binding obligations, with Purnpay.
3. We reserve the right, at Our sole discretion, to change, modify, add, or remove portions of these UPI Terms, at any time without any prior written notice to You. It is Your responsibility to review these UPI Terms periodically for updates / changes. Your continued use of Purnpay App following the posting of changes will mean that You accept and agree to the revisions including additional UPI Terms or removal of portions of these UPI Terms, modifications etc. As long as You comply with these UPI Terms, We grant You a personal, non-exclusive, non-transferable, limited privilege to enter and avail the UPI Services.
4. Using Purnpay App indicates Your agreement to all the terms and conditions under these UPI Terms, so please read the UPI Terms carefully before proceeding. By impliedly or expressly accepting these UPI Terms, You also accept and agree to be bound by Purnpay Policies (including but not limited to Privacy Policy available on the Purnpay website www.Purnpay.com) as amended from time to time.
5. About UPI: UPI is a payment platform built by that allows instant online payments between the bank accounts of any two parties. UPI offers an architecture and a set of standard application programming interface specifications to facilitate these online payments. It aims to simplify and provide a single interface across all NPCI systems besides creating interoperability and superior customer experience.
6. Your Account and Registration Obligations
   1. To enable UPI payments, the User first needs to have a Purnpay account. User can register and create a Purnpay account by:

      i. Downloading the Purnpay App and registering himself/herself. Or

      ii. Registering with Purnpay from a third party partner platform.

      iii. User has to necessarily install the Purnpay App on his/her smartphone to be able to register and transact using Purnpay UPI.

   2. Thereafter, You will be able to register for UPI payments by:

      i. Selecting Your bank:

      • You first need to select the bank from amongst the list of UPI-member banks as shown in the App. The list comprises of all the banks connected to the UPI Platform of NPCI.
      • If the name of Your bank does not appear in the list, You can still add Your bank by providing the bank account number and the IFSC code. However, You will not be able to make UPI payments from Your bank account.

      ii. If You have selected a bank from the UPI-member list, Please note that Your mobile number, should be registered with Your bank. If Your mobile number is not registered, then Your OTP verification will fail. You will not be able to avail the UPI Service unless You first register Your mobile number with the Bank.

      iii. Your bank will share the masked bank account numbers against the registered mobile number. You need to select the bank account which You wish to link with Purnpay App.

      iv. The selected bank account can be linked with Purnpay App in the following manner:

      • If You already have the 4-6 digit UPI PIN (UPI Personal Identification Number) for Your bank account, then You need to simply select the "Link" option and continue.
      • If You do not remember the UPI PIN, You can click on "forgot UPI PIN" and set a new one by providing the Debit card number linked with Your bank account and the expiry date of the Card. Your mobile number will be OTP verified by Your bank. If the verification is successful, You will be taken to the NPCI page, to set a new UPI PIN. After setting the UPI PIN, You will be taken back to the Purnpay App screen, where You have to click on "Link" and then continue.
      • You can Reset Your UPI PIN by clicking on "Reset UPI PIN". You can then set a new UPI PIN by providing the old and new UPI PINs.
      • If You have never set the UPI PIN before, then You will see an option to Set UPI PIN in settings. Please click on the link and set the UPI PIN by providing the debit card number linked with Your bank account and the expiry date of the Card. Your mobile number will be OTP verified by Your bank. If the verification is successful, You will be taken to the NPCI page, to set a new UPI PIN. After setting the UPI PIN, You will be taken back to the Purnpay App screen, where You have to click on "Link" and then continue.

      v. You need to authorize every UPI payment transaction by providing the UPI PIN.

      vi. Selecting Purnpay Balance (“UPI on Wallet”);

      • This facility is available only to Active Full KYC Purnpay Balance Account holders (Purnpay wallet )
      • Additionally users must be registered for UPI Payment on Purnpay App and should have linked his/her bank account.
      • UPI on wallet feature can be used only for following type of transactions:
        • a. Merchant payments by scan QR or other apps
        • b. Person-to-person payments
        • c. Credit from other apps
      • Transactions (Debit and Credit) using UPI on Wallet shall not be allowed from Gift Instruments issued by way of incentives such as cash back, rewards, gifts, etc
      • All transactions shall require following two factor authentication or such other two factor authentication as may be decided by Purnpay/Axis
        • a. Login - Mobile number & OTP verification
        • b. Biometrics

   3. "KYC" stands for know your customer and refers to the various norms, rules, laws, and statutes issued by RBI from time to time under which Purnpay is required to procure personal identification details from You before any UPI Services can be delivered. KYC documents may be asked by the Merchant (on behalf of Purnpay) from You at the time of activation and/ or on a later date, for availing and / or continuation of UPI Services. Purnpay/merchant shall not be responsible for wrong details being entered by the User.
   4. In the event the beneficiary/KYC details provided are found to be incorrect/ insufficient, Purnpay retains the right to block Your Purnpay account. Purnpay retains the right to share the details of the transaction undertaken using the Purnpay account and the end beneficiary/ KYC details with RBI, as per statutory guidelines issued from time to time.
   5. You are solely responsible for linking Your correct bank account.
   6. Since Your mobile number is treated as the primary identifier, Your mobile number needs to be updated with the bank linked to Purnpay App in case of any changes.
   7. If You change the mobile number registered with Your Purnpay account, You will have to re-register Your new mobile number with Purnpay. To re-enable the Service, You need to register Your new mobile number with Your bank as well.
   8. You agree that Your UPI ID will act as Your identity for all payment transactions and all requests to Your Purnpay account will be raised to Your UPI ID unless another UPI ID is explicitly specified.
   9. You agree that if You provide any information that is untrue, inaccurate, not current, or incomplete or We have reasonable grounds to suspect that such information is untrue, inaccurate, not current, or incomplete, or not in accordance with these UPI Terms, We shall have the right to indefinitely suspend or terminate or block access to Your Account.
   10. We shall ensure that all Your confidential data pertaining to Your money transactions, bank account details, and all other sensitive personal information are protected and kept confidential by employing best available protection standards, which are more fully set out in Our Privacy Policy. We/Axis Bank reserves the right to use Your transaction data for cross-selling/promotions/offers/value added services/increasing transactions/better user experience/such other purpose as may be required by Us/Axis Bank.
   11. You are solely responsible to keep Your one time password, UPI PIN, and bank account related details confidential. Sharing such information with others may lead to unauthorized usage, for which Purnpay shall not be responsible.
7. Transactions through Purnpay UPI
   1. Purnpay UPI can be used for money transfers from one person to another person or to purchase products and services online or offline on any merchant platform.
   2. The UPI PIN needs to be entered on Your mobile to authorize every Purnpay UPI payment. You need to ensure that You are connected to the internet at the time of making any transaction.
   3. Purnpay UPI is one of the payment options available to the Users on various merchant platforms and We assume no responsibility for the products or services purchased using Purnpay UPI and any liability thereof is expressly disclaimed.
   4. Purnpay UPI is one of the payment options available to the Users on various merchant platforms and We assume no responsibility for the products or services purchased using Purnpay UPI and any liability thereof is expressly disclaimed.
   5. You shall only use Purnpay UPI Services to process a transaction to make payment for legitimate and bona fide purposes including purchase of goods and services. You shall not use Purnpay UPI Service to process payment transactions in connection with the sale or exchange of any illegal goods or services or any other underlying illegal transaction.
   6. We may establish general practices and limits concerning use of Purnpay UPI. We reserve the right to change, suspend or discontinue any aspect of Purnpay UPI at any time, including hours of operation or availability of Purnpay UPI Services or any Purnpay UPI Service feature, without notice and without liability. We also reserve the right to impose limits on certain features or restrict access to parts or all of the service without notice and without liability. We may decline to process any Payment Transaction without prior notice to sender or recipient. We also reserve the right to automatically block any communication received by a User from a non- Purnpay UPI account, including any payment requests, that is deemed to be spam or a fraudulent communication.
   7. We do not warrant that the functions contained in Purnpay UPI will be uninterrupted or error free, and We shall not be responsible for any Service interruptions (including, but not limited to, power outages, system failures or other interruptions that may affect the receipt, processing, acceptance, completion or settlement of payment transactions or any other reasons beyond reasonable control of Purnpay).
   8. We may reject a transaction and/or settlement of payments for various reasons, including but not limited to risk management, suspicion of fraudulent, illegal, or doubtful transactions, selling of prohibited items, use of compromised or blacklisted cards or UPI accounts, chargebacks/complaints or for other reasons as prescribed under applicable laws or rules of Participating Banks. In the event that a Transaction is rejected or is unable to be completed, We will either transfer the funds back to the Your funding account or will handle the funds in accordance with applicable laws or participating bank rules.
   9. UPI limits issued by NPCI

      Requirements and Limits for Purnpay UPI

      Particular	Transaction Limit
      Monthly	None
      Per Transaction	Rs. 1 lakh

8. Charges
   1. Membership is free for Users. Purnpay does not charge its Users any fee for creating an Account or use of UPI Services. Purnpay reserves the right to change its fee policy from time to time. In particular, Purnpay may at its sole discretion introduce new services and modify some or all of the existing UPI Services offered on the Platform. In such an event, We reserve the right to introduce fees for the new services offered or amend/introduce fees for existing UPI Services, as the case may be. Changes to the fee policy shall be posted on the website/app and such changes shall automatically become effective immediately after they are posted. Unless otherwise stated, all fees shall be quoted in Indian Rupees.
   2. Your bank may charge You a nominal transaction fee for UPI transfers- please check with Your bank for any such charges.
   3. The reporting and payment of any applicable taxes arising from the use of Purnpay UPI is Your responsibility. You hereby agree to comply with any and all applicable tax laws in connection with Your use of Purnpay UPI, including without limitation, the reporting and payment of any taxes arising in connection with Payments made through Purnpay UPI, or funds/income received through Purnpay UPI.
   4. You herein agree and accepts that, in case of any discrepancy in the information provided by You for availing this Service and the onus thereof shall always be upon the You only and thus You agrees to furnish accurate information at all times to the Purnpay.
9. If You suspect that there is an error in the information supplied by Purnpay, You shall inform Purnpay immediately. Purnpay will endeavor to correct the error promptly wherever possible on a best effort basis.
10. Purnpay shall not be held liable & responsible for any loss, cost or damage suffered by You due to disclosure of Your personal or any other information to a third party including Government./Regulatory authorities by Purnpay, for reasons inclusive but not limited to participation in any telecommunication or electronic clearing network, in compliance with a legal or regulatory directive, for statistical analysis or for credit rating or for any legal or regulatory compliance.
11. You are solely responsible for protecting Your mobile phone/device, virtual address, and UPI PIN set for the availing of the UPI Services.
12. You shall be liable for any kind of unauthorized or unlawful use, misuse, or leakage of any of the virtual address or MPIN/Passwords/Passcodes issued by Purnpay in respect of the UPI Services or any fraudulent or erroneous instruction given by You and any financial charges thus incurred shall be payable by You only
13. You shall be liable for all loss, cost, or damage, if You have breached the UPI Terms contained herein or other additional terms and conditions mentioned above or contributed or caused the loss by negligent actions or a failure on Your part to advise Purnpay within a reasonable time about any unauthorized access in Your Purnpay account used for this UPI Services.
14. We reserve the right, in Our sole and absolute discretion, to suspend or terminate Your use of one or more Purnpay UPI Services, without notice and without liability to You or any third party, for any reason, including without limitation inactivity or violation of these UPI Terms or other policies We may establish from time to time.

15. Disclaimer: THESE UPI SERVICES, INCLUDING ALL CONTENT, SOFTWARE, FUNCTIONS, MATERIALS, AND INFORMATION MADE AVAILABLE ON, PROVIDED IN CONNECTION WITH OR ACCESSIBLE THROUGH THE UPI SERVICES, ARE PROVIDED "AS IS." TO THE FULLEST EXTENT PERMISSIBLE BY LAW, Purnpay, AND THEIR AGENTS, CO-BRANDERS OR OTHER PARTNERS, INCLUDING BUT NOT LIMITED TO, DEVICE MANUFACTURERS (COLLECTIVELY, " Purnpay PARTIES"), MAKE NO REPRESENTATION OR WARRANTY OF ANY KIND WHATSOEVER FOR THE UPI SERVICES OR THE CONTENT, MATERIALS, INFORMATION AND FUNCTIONS MADE ACCESSIBLE BY THE SOFTWARE USED ON OR ACCESSED THROUGH THE UPI SERVICES, OR FOR ANY BREACH OF SECURITY ASSOCIATED WITH THE TRANSMISSION OF SENSITIVE INFORMATION THROUGH THE UPI SERVICES. EACH Purnpay PARTY DISCLAIMS WITHOUT LIMITATION, ANY WARRANTY OF ANY KIND WITH RESPECT TO THE UPI SERVICES, NONINFRINGEMENT, MERCHANTABILITY, OR FITNESS FOR A PARTICULAR PURPOSE. Purnpay DOES NOT WARRANT THAT THE FUNCTIONS CONTAINED IN THE UPI SERVICES WILL BE UNINTERRUPTED OR ERROR FREE. Purnpay SHALL NOT BE RESPONSIBLE FOR ANY SERVICE INTERRUPTIONS, INCLUDING BUT NOT LIMITED TO SYSTEM FAILURES OR OTHER INTERRUPTIONS THAT MAY AFFECT THE RECEIPT, PROCESSING, ACCEPTANCE, COMPLETION OR SETTLEMENT OF PAYMENT TRANSACTIONS, P2P PAYMENTS OR THE UPI SERVICES.

    THE Purnpay PARTIES ARE NOT RESPONSIBLE FOR THE ACCURACY OF ANY PAYMENT INSTRUMENT, INCLUDING WITHOUT LIMITATION WHETHER SUCH INFORMATION IS CURRENT AND UP-TO-DATE. WITHOUT LIMITING THE GENERALITY OF THE PRECEDING SENTENCE, YOU EXPRESSLY ACKNOWLEDGE AND AGREE THAT SUCH INFORMATION IS REPORTED BY THE BANK AS OF A PARTICULAR TIME ESTABLISHED BY THE BANK AND MAY NOT ACCURATELY REFLECT YOUR CURRENT TRANSACTIONS, AVAILABLE BALANCE, OR OTHER ACCOUNT OR PROGRAM DETAILS AT THE TIME THEY ARE DISPLAYED TO YOU THROUGH THE UPI SERVICES OR AT THE TIME YOU MAKE A PURCHASE OR REDEMPTION. YOU MAY INCUR FEES, SUCH AS OVERDRAFT FEES OR OTHER CHARGES AS A RESULT OF SUCH TRANSACTIONS, PER YOUR AGREEMENT WITH YOUR BANK , OR YOUR ATTEMPT TO MAKE A PURCHASE OR REDEMPTION MAY NOT BE SUCCESSFUL.

16. You agree to release Purnpay and its partner Bank (Axis Bank), agents, contractors, officers, and employees, from all claims, demands and damages (actual and consequential) arising out of or in any way connected to any transaction made through Purnpay App. You agree that You will not involve Purnpay in any litigation or other dispute arising out of or related to any transaction, agreement, or arrangement with any recipient, sender, merchant, advertiser or other third party in connection with the Purnpay UPI Service. If You attempt to do so, (i) You shall pay all costs and attorneys' fees of Purnpay, and group companies and shall provide indemnification as set forth below, and (ii) the jurisdiction for any such litigation or dispute shall be limited as set forth below.
17. You agree to indemnify, defend and hold harmless Purnpay, its partner bank, group companies and its directors, officers, owners, agents or other partners, employees, contractors and other applicable third parties (collectively "Indemnified Parties") from and against any and all claims, demands, causes of action, debt or liability, including reasonable attorneys’ fees, including without limitation attorneys’ fees and costs incurred by the Indemnified Parties arising out of, related to, or which may arise from:
    1. Your use of the UPI Services;
    2. any breach or non-compliance by You of any term of these UPI Terms or any related policies;
    3. any dispute or litigation caused by Your actions or omissions; or
    4. Your negligence or violation or alleged violation of any applicable law or rights of a third party.
18. Jurisdiction : You agree that any legal action or proceedings arising out of the aforementioned documents shall be brought exclusively in the competent courts/tribunals having jurisdiction in New Delhi, India and irrevocably submit themselves to the jurisdiction of such courts/tribunals.
19. These Purnpay UPI Terms and any rights and licenses granted hereunder, shall not be transferred, or assigned by You. However, We may assign, in whole or in part, the benefits or obligations of these UPI Terms. We will provide an intimation of such assignment to You, which will be binding on the parties to these UPI Terms.
20. Unless otherwise expressly stated in this UPI Terms, the failure to exercise or delay in exercising a right or remedy under these UPI Terms will not constitute a waiver of the right or remedy or a waiver of any other rights or remedies, and no single or partial exercise of any right or remedy under the UPI Terms will prevent any further exercise of the right or remedy or the exercise of any other right or remedy.
21. These UPI Terms, which by their nature and content are intended to survive the performance hereof by any or all parties hereto will so survive the completion and termination of these UPI Terms.
22. If any provision of the UPI Terms is or becomes, in whole or in part, invalid or unenforceable, then that provision shall be deemed severable and shall not affect the validity and enforceability of any of the remaining provisions.. If any court/tribunal of competent jurisdiction holds any of the provisions of the UPI Terms unlawful or otherwise ineffective, the remaining of the UPI Terms will remain in full force and the unlawful or otherwise ineffective provision will be substituted by a new provision reflecting the intent of the provision so substituted.

Terms & Conditions of Use for UPI LITE

The T&Cs govern the UPI LITE feature enabled by National Payments Corporation of India (“NPCI”) on the Unified Payment Interface (“UPI”) Application (“UPI App.”). User is required to read and understand the T&Cs carefully, and exercise prudence and discretion before accessing or using the UPI LITE feature enabled on the Purnpay App.

The Terms of Use for UPI LITE ( “T&Cs UPI LITE”) is applicable and binding on the user opting to use UPI LITE. UPI LITE is an 'on-device wallet' for small value transactions enabled on Purnpay mobile application (“Purnpay UPI App/ Purnpay App.”) by Purnpay Payment Technologies Pvt. Ltd. (“Purnpay”). Users are requested to note that UPI LITE may not be supported by all banks. User shall be able to enable only one Bank Account that is linked on the Purnpay App.

The User may activate the UPI LITE on the Purnpay App, and by requesting to enable or activate UPI LITE, the user acknowledges that she/he has read, understood and agreed to be bound by the Terms of Use for UPI LITE.

The User will be required to have her/his bank account linked with the set UPI PIN, and will also be required to authorize the issuing bank (using UPI PIN) to enable the UPI LITE (on-device wallet). This request will prompt the issuing bank to transfer funds from Users account towards UPI LITE usage. Once the issuing bank confirms successful transfer of funds, the UPI l LITE is enabled and the virtual balance is reflected in the UPI section on Purnpay App.

In order to make payment via UPI LITE feature to any merchant, the User shall not be required to enter a UPI PIN. However, transactions undertaken vide UPI LITE feature shall be subject to certain transaction value threshold. The applicable transaction limits are as follows:

1. Every spend transaction using UPI LITE Facility shall be limited to a maximum of INR 1000/-.
2. The cumulative value of all transactions using UPI LITE Facility in a day shall be limited to a maximum of INR 10000/-.
3. The maximum balance that can be held in the UPI LITE Facility at one point in time shall be limited to INR 5000/-.

The above stated transaction limits may be modified as may be notified by NPCI and without any prior notice.

The User understands and acknowledge that the User shall not be entitled to earn any interest on the balance amount held in the UPI LITE account. The User shall be solely responsible for maintaining the secrecy of the password and other credentials, associated with the UPI APP and UPI LITE account.

Before changing mobile device, User must disable UPI Lite Facility from such mobile device and move available balance funds to User's linked Bank Account. In case User fail to disable UPI Lite from hid old mobile device, he can reach out to his issuer bank for moving available balance in UPI Lite to his Bank Account. User understand and agree that Purnpay shall not be liable in this regard.

User shall have the right to disable the UPI Lite, at any time. Once the UPI Lite Facility is disabled, the balance funds shall be credited into user linked Bank Account.

The T&Cs UPI LITE are in addition to and not in derogation of the terms and conditions governing the usage of Purnpay UPI. In the event of conflict between the UPI LITE Terms and the Terms of Use for Purnpay UPI, the Terms of Use for UPI LITE shall have an overriding effect.

1. The Easy EMI Service (“Service”) is provided by Purnpay Payment Technologies Private Limited (“Purnpay”) in partnership with Axis Bank Limited (“Axis Bank” or “Lender”).

2. In order to avail the Service, the Customer needs to provide his Axis Bank Debit Card Details. Re. 1 will be deducted to validate the Axis Bank Debit Card which will be refunded back in 5-7 business days.

3. Post Axis Debit Card verification, requested amount will be added in Purnpay Balance as Gift Instrument with a validity of 1095 days.

4. Rejection or approval of the Service, approved amount and rate of interest are at the sole discretion of Axis Bank.

5. For any complaints/queries regarding the Service kindly write to care@Purnpay.com.

6. CHARGES: Purnpay reserves the right to charge and recover from the Customer, service charges / other applicable charges for providing the Service. The Customer hereby authorizes Purnpay to recover the service charge in a manner as Purnpay may deem fit along with such interest, if any, and/or suspension of the Service without any liability to Purnpay.

7. AUTHORITY TO Purnpay: Purnpay/ shall have no obligation to verify the authenticity of any transaction / instruction received or purported to have been received from the Customer. While Purnpay 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. Purnpay 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 Service if it has reason to believe that the Customer’s instructions will lead or expose to direct or indirect loss or may require an indemnity from the Customer.

8. LIABILITY OF THE CUSTOMER AND Purnpay: Purnpay shall not be liable for any unauthorised transactions occurring through the use of the Service and the Customer hereby fully indemnifies and holds Purnpay harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. Purnpay shall under no circumstance be held liable to the Customer if the Service 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 Purnpay. Under no circumstances shall Purnpay 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 Customer or by any other person. Illegal or improper use of the Service shall render the Customer liable for payment of financial charges as decided by Purnpay or will result in suspension of the Service.

9. DISCLAIMER OF WARRANTIES: The Customer expressly agrees that use of the Purnpay website/ Service is at its sole risk. The Purnpay website/ Service is provided on an "as is" and "as available" basis. Except as warranted in the terms, Purnpay expressly disclaims all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy and completeness, and any warranties relating to non-infringement in the Service provided by Purnpay/. Purnpay does not warrant that access to the Purnpay website/ Service shall be uninterrupted, timely, secure, or error free nor does it make any warranty as to the results that may be obtained from the Purnpay website or use, accuracy or reliability of the Service. Purnpay will not be liable for any virus that may enter the Customer’s system as a result of the Customer using the Service. Purnpay does not guarantee to the Customer or any other third party that the Service would be virus free.

10. Change of Terms: This Service shall be provided at the discretion of Purnpay who reserves the right to add, revise, suspend in whole or in part any of the services provided by it. By using the Service, the Customer shall be deemed to have accepted these Terms. Purnpay shall have the absolute discretion to amend or supplement any of the Terms and/or terms and conditions stipulated by Purnpay pertaining to the Service and/or to any services/facilities offered by Purnpay at any time. The Customer shall be responsible for regularly reviewing these Terms and the terms and conditions stipulated by Purnpay including amendments thereto as may be posted on the website. By using any new services as may be introduced by Purnpay, the Customer shall be deemed to have accepted the changed terms and conditions stipulated by Purnpay.

11. The Customer shall be solely responsible for the payments made through the Service even in the event of the Customer claiming non-possession of the Purnpay Account with him/her. The Customer shall further be solely responsible for any payments made using the Service through the website and cannot claim the invalidity of the same.

12. Since the disbursal of the loan will be in Purnpay Balance, the terms and conditions for prepaid payment instruments namely Purnpay Balance as published on the Purnpay’s website shall be applicable. The amount shall not be transferrable or withdrawable or refundable and shall have a validity period of 1095 days.

(B) Axis Bank Terms of Service

1. "EMI" or "Equated Monthly Installment" means the equated monthly installment of amounts payable by the Card Member to AXIS Bank comprising of principal amount, interest and any/ or other charges, if applicable.

2. "Debit Card EMI" refers to the conversion into EMI upon request by the Card Member, of transactions performed using the Debit Card at EDC (Electronic Data Capture) terminal and/or for such online transactions, where the option for such conversion is available. AXIS Bank shall be entitled to, at its sole discretion, make available to individual Card Member, EMI on the Debit Card, without prejudice to the obligation of the Card Member to make immediate payment on the incurring of the charge, the Card Member may, seek to avail of the option of paying for certain purchases through Equated Monthly Installments (EMIs)

3. The decision of conversion of EMI as per customer request lies at the discretion of AXIS Bank.

4. If all conditions are met the transaction amount is disbursed into the customer’s Purnpay Balance account within 4 working days from the date of transaction. Post which the EMI will be debited on a monthly basis from customer linked active saving account.

5. The EMI facility will be available with respect to the Debit Card which presently comprise of the following purchases, viz., New purchases at Merchant Establishment and ecommerce retailers.

6. The Card member shall be charged an interest rate on monthly reducing balance basis, for availing the EMI facility. This interest will be mentioned on the payment confirmation page for customer consent.

7. The Pre-Approved EMI will be offered for a maximum tenor of 12 months with slabs of 6, 9 and 12 months.

8. The rate of interest effective from March 12, 2015 will be 14 % per annum computed on reducing balance. Equated Monthly Installment (EMI) per Rs 1000 will be Rs. 174 for EMI tenor of 6 months, Rs. 118 for EMI tenor of 9 months and Rs. 90 for EMI tenor of 12 months. The Bank may revise the rate of interest at a later stage without issuing prior notice to the cardholders.

9. The Equated Monthly Installment (EMI) amount will be auto debited every month from the customer’s saving account on a particular date (i.e on 30th day Post EMI Booking date)

10. The entire EMI amount will be included in calculation of Minimum Amount Due payable by the cardholder.

11. Axis bank reserves the right to mark a lien on the customer saving account to recover the outstanding balance in case of delinquent customers.

12. No request for changes in the billing cycle shall be entertained during the entire loan period. The loan period is defined as the loan tenor selected by the cardholder at the time of request.

13. Service Tax will be applicable on Foreclosure Fee

14. Repayment: The card member shall repay the facility and interest thereon in EMIs. The interest shall be at such rate which has been indicated by AXIS Bank to the card member at the time of making the offer for the facility and as also as communicated to the card member on the charge-slip. The interest calculation will start from the time the transaction has been booked for the facility. The card member hereby authorizes AXIS Bank to auto debit the account of the card member on a monthly basis for the amount of EMI due for that particular month. The card member should maintain required balance in his account to pay the entire amount of the EMI for a particular month on the due date, and the same shall not be permitted to be carried forward/included in the next month. In the event the payment is not made by the due date as specified, it shall be construed as a default by the card member and card member shall become liable to pay the entire due amount.

15. Prepayment: The card member may close the facility (prepayment of the outstanding amount) at any time by contacting AXIS Bank's Customer Care to avail of the foreclosure. The card member has to call up the customer service for complete prepayment of the facility. AXIS Bank shall, without prejudice to all rights and remedies, have the right to call upon the card member to forthwith repay the Facility, all interest thereon and all other monies in respect of the facility upon occurrence of event of default in payment of EMI for more than two consecutive months and the card member shall be liable to repay all such amounts upon such demand

16. Cancellation of Facility: The card member may cancel the facility within 30 days of date of transaction. The customer can request for a cancellation at the customer care. In the case of cancellation, the original transaction amount which was converted into EMI shall be debited back to the customer account and all charges relating to such EMI conversion shall be reversed, but only if the card member has called up within 30 days from the date of transaction. Kindly ensure that there are sufficient funds (upto the transaction amount availed of EMI on Debit Card) available in your account for processing the cancellation request.

17. Particular Affirmative Covenants:

a. The card member has understood AXIS Bank's method of calculating EMIs payable.

b. The card member is deemed to have accepted these terms and conditions upon the card member having requested for the facility.

c. The card member shall make payment of all taxes, duties, levies (including service tax) in connection with the facility.

d. Axis Bank reserves the right at any time without previous notice to add, alter, modify, change or vary all or any of these Terms and Conditions or to replace, wholly or in part, this scheme by another scheme, whether similar to this scheme or not, or to withdraw it altogether. Which if done shall be binding on the cardholder and the cardholder shall abide by the said rules. If withdrawn, those who have opted shall continue to get the right to pay through EMIs for the already approved conversion.

e. The participants will not hold Axis Bank responsible for or liable for, any actions, claims, demands, losses, damages, costs, charges, and expenses that a participant may suffer, sustain or incur by way of this scheme.

f. All and any disputes arising from the EMI facility shall be subject to the exclusive jurisdiction of the courts of Mumbai

18. Events Of Default:

a. On Failure of EMI payment dues, bank can take legal action as per section 138, mark lien or debit my saving account to recover the outstanding due amount

b. Ifone or more of the events specified in this Clause ("Events of Default") occur or shall have occurred, AXIS Bank may foreclose the facility by a notice in writing to the card member.

c. The card member's commission of a breach of any of the terms and conditions along with covenants herein contained or having made any misrepresentation to AXIS Bank.

d. The card member's having been declared as an insolvent.

e. The card member's having been declared as an insolvent.

f. The card member's failure to furnish any information or documents that may be required by AXIS Bank.

g. The card member's entering into any composition with his/her creditors.

h. The card member's defaulting on any of the terms and conditions of any other loan or facility provided by AXIS Bank to the card member.

i. The existence of any other circumstances which, in the sole opinion of AXIS Bank, jeopardize AXIS Bank's interest. Upon the occurrence of any event of default as specified above, AXIS Bank shall be entitled to exercise rights and remedies available to it under these terms and conditions as also the primary terms and conditions.

I/we hereby agree that based on the Borrower's Request, Representations, Warranties, Covenants and Undertakings as contained herein and in the application for Personal Loan and other documents executed or tendered by the Borrower in relation to the Personal Loan, the bank has agreed to lend to the Borrower and the Borrower agrees to borrow from the Bank, the Personal Loan on the terms and conditions as fully contained in this Agreement and the key fact sheet.

The relationship between the Bank and the Borrower as lender and borrower shall commence from the date of this signing of Agreement via electronic signature/other digital media and subsist until all monies due and payable by the Borrower to the Bank under this Agreement and in all other documents pursuant hereto shall have been fully paid to and received by the Bank.

I/we hereby agree that the Personal Loan shall bear Service Charges and any other fees as mentioned in the key fact sheet, which the Borrower agrees to reimburse to the Bank separately. The Bank shall be entitled to recover from the Borrower Prepayment Charges at the rate mentioned in the key fact sheet on the amount of Personal Loan, repaid by the Borrower ahead of the Repayment Terms as mentioned in the key fact sheet. The Bank shall also be entitled to recover from the Borrower any other charges or costs incurred or claims suffered by the Bank in connection with the Personal Loan, including on account of execution and stamping of this Agreement and any other documentation or security creation pursuant to this Agreement.

I/we hereby understand that the Bank shall, unless agreed between the Borrower and the Bank otherwise and as stated in the key fact sheet, disburse the Personal Loan through NEFT/RTGS direct credit to bank account or banker's Payment Order or a Demand Draft crossed as "A/c Payee only"

i) in the name of the previous financier towards the repayment of the previous loan to be taken over by utilising the Personal Loan.

ii) in the name of such party/ies as per the instructions of the borrower.

iii) in the name of the borrower at discretion of Bank.

The Bank shall have an unconditional right to cancel the undrawn/unavailed/unused portion of the Loan at any time during the subsistence of the Loan, without any prior notice to the borrower, for any reason whatsoever. In the event of any such cancellation, all the provisions of this Agreement and all other related documents shall continue to be effective and valid and the Borrower shall repay the outstanding dues under the loan duly and punctually as provided herein.

I/we, the borrower hereby understand and agree that the charges in relation to the disbursement (including charges for issuance or for the collection of proceeds by the beneficiary on such payment order or demand draft) shall be borne by the Borrower. The Bank may not disburse at any time, any amount under the Personal Loan unless all the conditions and any other formalities prescribed by the Bank including the following, but not restricted to, are complied with, in the sole discretion of the Bank:

i) The Borrower's submission to the satisfaction of the Bank of a Certificate of Employment from his/her Employer and his/her financial statements;

ii) The Borrower's submission to the Bank, Electronic Clearing Service mandate/Standing Instruction mandate/NACH mandate towards repayment instalments; and Any other document or writing as the Bank may require in its sole discretion.

iii) Submission of all the necessary approvals and permission from, the appropriate authorities including, but not limited to approvals and certificates from corporations.

I/we, the Borrower, hereby undertake to repay to the Bank the amount equated in terms of monthly instalments each by the first day of each calendar month or such part thereof as shall remain due and owing to the Bank. The equated monthly instalment includes interest component.

Interest on the amount of the Loan is to be applied at the fixed rate of interest stipulated in the Schedule to the Loan Agreement. The rate of interest will be fixed for the entire tenor of the loan. The rate of interest once accepted on digital platform will not undergo change throughout the tenure of the loan.

APR : "Annual percentage rate" is a method to compute annualised credit cost, which includes interest rate and loan origination charges.

Cooling Off Period : Cooling off/look-up period is the period during which borrower shall not be charged any penalty on prepayment of the loan.

I/we, understand that the Interest on the Personal loan shall accrue from the date on which the loan account is opened for disbursal and accordingly the computation of the first EMI shall be calculated only for the actual number of days remaining for the due date of first instalment. For rest of the instalments the entire period of 30 days based on a pre-drawn schedule shall be taken into consideration. The disbursement of the Personal loan will be done by issuing the disbursement Pay order / Demand draft or otherwise without the Bank concerning itself with the receipt of such disbursement by the Beneficiary / Recipient and also with the realization of such payment order / Demand draft or the time taken in such realization. Interest on the Personal Loan shall be computed and debited to the Personal Loan Account on the due date in each calendar month/quarter/half year/year as stated in the key fact sheet. Interest Tax and other levies as may be applicable from time to time on the Personal Loan shall be borne by the Borrower. The Bank shall be entitled to debit all other amounts due and payable by the Borrower under this Agreement (including but not limited to interest tax, fees, stamp duty, costs, service/prepayment and other charges, claims and expenses) to the Borrower's Personal Loan account, unless separately reimbursed to the Bank by the Borrower. Such amounts shall form part of the Personal Loan. All amounts in default for payment (i.e. not paid by the Borrower when due to the Bank) including arrears of EMI, interest before the commencement of EMI, costs, charges and expenses debited to the Personal Loan account shall attract penal interest without there being any need to assign a reason for such revision and interest and penal interest shall thereafter accrue at such revised rate(s). Interest on the Loan shall be computed and debited to the Loan Account taking the basis of 365 days a year.

I/we, undertake that the Personal Loan (including the principal, interest thereon and any other charges, premium, fees, taxes levies or other dues payable by the Borrower to the Bank in terms of this Agreement) be repayable by the Borrower to the Bank-

i) at the Branch (or at any other branch of the Bank or at any other place as may be notified by the Bank).

ii) by way of Equated Monthly Instalment(EMI) as mentioned in the key fact sheet towards repayment of principal and interest; and

iii) by separate repayments towards repayment of default interest, fees, charges, taxes, claims, costs and expenses charged to the Personal Loan account.

Further the Bank shall have a lien and right of set-off on all moneys belonging to the Borrower standing to their credit in any account whatsoever with the Bank. If upon demand by the Bank the balance outstanding in the Credit Facility account is not repaid within the prescribed time, such credit balance in any account may be adjusted towards dues under the Credit Facility account. In case of any deficit, the deficit amount may be recovered by the Bank from the Borrower. I/we, further agree that the Equated Monthly Instalment (EMI) amount shall be arrived at so as to comprise repayment of principal and payment of interest calculated on the basis of the interest rate, periodicity, of repayment, of the entire liability under the Personal Loan at the end of its tenor and the Borrower agrees to continue paying EMIs until all amounts due under the Personal Loan have been repaid in full to the Bank. No notice, reminder or intimation will be given to the Borrower regarding his/her obligation to pay the EMI regularly on each due date. It shall entirely be his/her responsibility to ensure prompt and timely payment to the Bank. Any delay or default in payment of any EMI shall make the Borrower liable to pay to the Bank, interest at the Default Interest Rate (for the period of such default) as mentioned in the key fact sheet, besides constituting a default thereby making all sums under this Agreement due and payable to the Bank forthwith. All repayments of Principal and payment of interest and all other amounts by way of EMI or otherwise shall be given effect to in the Personal Loan account in accordance with the method of effecting payment as stated in the key fact sheet or as adopted by the Bank from time to time. Repayments ahead of the Repayment Terms shall attract Prepayment Charges as stated in the key fact sheet.

All amounts in default for payment, due to delay or non-payment of EMI/Installment or interest thereon including any costs, charges and expenses or due to occurrence of any other Event of Default as mentioned in the above paragraph shall be debited to the loan/drawal account and in such case Bank shall also levy the penal interest and other charges as applicable and prescribed in the schedule of charges in the said loan /drawal account for the period of default without there being any need to assign a reason for the same, which shall be paid by the Borrower.

However, if Borrower fails to make the payment of above said amounts in default for payment or the penal interest and other charges levied by the Bank within 90 days from the due date of such payments, in that case said loan/drawal account shall be classified as Non Performing Asset (NPA).

In order to regularize the said loan/drawal account, the Borrower shall be liable to pay all the above mentioned amounts in default and/or penal interest and other charges, as the case may be, [on immediate basis]

I/we, the borrower hereby understand and agree the following:

The Bank shall, in relation to the Personal Loan:

i) have the sole right at any time during the tenure of this Agreement to revise/reschedule the repayment terms/ amount of EMI or of any other amounts outstanding there under and the Borrower shall make all future repayments to the Bank according to such revised schedule on being notified by the Bank of such revision or reschedulement;

ii) have the sole right to amend any of the terms and conditions of this Agreement including but not limited to revision of interest Rate (including the Default Interest Rate), periodicity of compounding interest, method of effecting credit of the repayments without assigning any reason or notifying the Borrower and the Borrower agree that such revision shall become applicable from date of such revision in the records of the Bank;

iii) have the right to receive and adjust any payment/s that it may receive as an assignee of the insurance in relation to the Property that may have been provided as security and on the life of the Borrower towards amounts due and/or payable by the Borrower under this Agreement;

iv) be entitled to disclose any information about the Borrower, his/her account relationship with the Bank and/or any default committed by him (whether such information is provided by the Borrower or obtained by the Bank itself and whether in form of repayment conduct, rating or defaults) to its head office, other branch offices, affiliated entities, Reserve Bank of India, any Refinancing agency, credit rating agency and such third parties as the Bank may in its sole and exclusive discretion, deem fit and proper. The Bank shall also be entitled to seek and receive any information as it deems fit in connection with the Personal Loan and/or the Borrower from any third party;

v) with specific consent the borrower allows the Bank/Lender for disclosing / submitting the 'financial information' as defined in Section 3 (13 ) of the Insolvency and Bankruptcy Code, 2016 ( 'Code' for brief ) read with the relevant Regulations/ Rules framed under the Code, as amended and in force from time to time and as specified there under from time to time, in respect of the Credit/ Financial facilities availed from the Bank/ Lender, from time to time, to any 'Information Utility' ( 'IU' for brief ) as defined in Section 3 ( 21 ) of the Code, in accordance with the relevant Regulations framed under the Code, and directions issued by Reserve Bank of India to the banks from time to time and hereby specifically agree to promptly authenticate the 'financial information submitted by the Bank/Lender, as and when requested by the concerned 'IU'

vi) be entitled to require the Borrower, in the event of the Borrower opting to resign or retire from the employment prior to the age of superannuation or is discharged or removed from service before such date for any reason whatsoever, to instruct his/her employer to remit the entire dues (including provident fund, gratuity and compensation) becoming payable by the Borrower from his/her employer on account of his/her such cessation of employment and to receive and appropriate the same towards the Borrower's liability under the Personal Loan.

vii) may obtain and share personal data of the borrowers is from/with its vendors/third party agents in the course of processing and disbursing of the Loan. I hereby give my consent to the Bank to share my personal information with such vendors/third party agents of the Bank as may be required.

viii) during the customer journey of applying for 24x7 Loans or post completion of such journey, Axis Bank shall collect, store, utilize and analyse customer feedback for the purposes of internal product enhancements, quality checks and marketing of retail lending products. Customer feedback shall be collected via self-administered surveys, telephonic communication, or face to face interaction with the customers wherein such telephonic communication and face to face interaction shall be conducted by Axis bank itself or by third parties appointed on behalf of Axis Bank to solely collect customer feedback. For the sake of clarity, customer feedback collected by third parties on behalf of Axis Bank shall not be utilized by such third parties in any manner whatsoever.

I/we, the borrower, hereby agree to the following with a view to induce the Bank to grant the Personal Loan to the borrower,

i) Borrower has given complete and correct information and details in the application form about himself/herself;

ii) Borrower shall make available to the Bank such security (including mortgage over the Property) in such form and substance as may be required by the Bank;

iii) Borrower has no pending claims demands litigation or proceedings against him/her before any court or authority (public or private);

iv) Borrower shall ensure that the purpose for which the Personal Loan is advanced by the Bank is fulfilled in all respects and produced to the Bank, the necessary documents, as may be required by the Bank;

v) Borrower shall ensure proceeds will not be utilized for purchase of gold in any form including primary gold, gold bullion, gold jewellery, gold coins, units of Gold Exchange Traded Funds (ETF) and units of gold Mutual Funds, acquisition of/investing in Small Savings Instruments, dealing in Virtual Currencies.

vi) Borrower shall in addition to the income/ financial statement/s required by the Bank furnish such other information/ documents concerning his/her employment, trade, business, profession or otherwise as the Bank may require from time to time;

vii) Borrower shall promptly and without requiring any notice or reminder from the Bank, repay to the Bank the Personal Loan in accordance with the Repayment Terms mentioned in the key fact sheet; Borrower shall (in case of more than one borrower) be jointly and severally liable to repay the Personal Loan, interest and all other sums due and payable under this Agreement and to observe its terms a conditions;

viii) Borrower where applicable, shall inform the Bank of any likely change in his/her employment;

ix) Borrower shall not stand surety or guarantor for any third party liability or obligation;

x) Borrower being a resident in India, shall not leave India for employment or business or long stay without first fully repaying the Personal Loan then outstanding due and payable with interest and other dues, including prepayment charges, if any;

xi) Borrower shall keep himself/herself aware of the rules of the Bank, pertaining to Personal Loan, and in force from time to time.

xii) The borrower shall, in case the borrower is a company/firm/body corporate, notify the Bank at least 30 days in advance of any intended a) change in business, constitution or constitution documents or b) closure of its business or c) change in address.

xiii) The borrower shall ensure that any update/change in any information or documents provided by the borrower in future is intimated/ informed to the Bank promptly, i.e., within 30 days from the date of change.

xiv) The borrower declares that they are not a Politically Exposed Person (PEP) nor are they related to any Politically Exposed Person (PEP). They undertake that in the event of subsequently becoming a PEP, they will immediately intimate the Bank regarding the same. Politically Exposed Persons (PEPs) are individuals who are or have been entrusted with prominent public functions by a foreign country, including the Heads of States/Governments, senior politicians, senior government or judicial or military officers, senior executives of state-owned corporations and important political party officials.

xv) In the event of savings account/s of the Borrower/s being closed or being shifted from Axis Bank to any other Bank, the Borrower/s shall within 15 days of such closure or shifting of account, arrange to the satisfaction of Axis Bank any other alternative mode of payment of the instalments either by way of Electronic Clearing System (ECS) or by submitting Post Dated Cheques (PDC's), failing which the Bank would have an option to recall the outstanding loan of the Borrower/s.

xvi) The Borrower hereby acknowledges and agrees that the Bank has a right to award a separate mandate to its Auditor or any independent Auditor, as the Bank may deem fit with a view to obtain a specific certificate regarding diversion /siphoning of funds by the Borrower. The Borrower agrees and undertakes to co-operate with such Auditors and provide the necessary information and/or documents as may be required by such Auditors. The Borrower also agrees and undertakes to bear all the expenditure in respect of obtaining the said Certificate and agrees to indemnify and keep the Bank indemnified in this regard.

I understand that the Bank may by a written notice to the Borrower, declare all sums outstanding under the Personal Loan (including the principal, interest, charges, expenses) to become due and payable forthwith and enforce the security (if applicable) in relation to the Personal Loan upon the occurrence (in the sole decision of the Bank) of any one or more of the following:

i) The Borrower fails to pay to the Bank any amount when due and payable under this Agreement.

ii) The Borrower fails to pay to any person other than the Bank any amount when due and payable or any person other than the Bank demands repayment of the loan or dues or liability of the Borrower to such person ahead of its repayment terms as previously agreed between such person and the Borrower;

iii) The Borrower defaults in performing any of his/her obligations under this Agreement or breaches any of the terms or conditions of this Agreement;

iv) The Borrower opts to resign or retires from the employment prior to the age of superannuation or is discharged or removed from service before such date for any reason whatsoever

v) Any of the information provided by the Borrower to avail the Personal Loan or any of his/her Representations, Warranties herein being found to be or becoming incorrect or untrue;

vi) Any person other than the Bank commencing proceedings to declare the Borrower insolvent or if the Borrowershall become bankrupt or insolvent or commit act of insolvency;

vii) The value of the security (including guarantee/s) created or tendered by the Borrower, in the sole discretion and decision of the Bank, depreciates entitling the Bank to call for further security and the Borrower fails to give additional security;

I/we, understand that the Bank shall have a right to sell or transfer (by way of assignment, securitisation or otherwise) whole or part of the Credit/Loan Facility and outstanding amounts under the Credit/Loan Facility or any other rights and obligations of the Bank under this Agreement or any other document pursuant hereto to any person/ entity in a manner or under or under such terms and conditions as the Bank may decide in its sole discretion without reference to or intimation to me/us. The Borrower expressly agree, in the event of sale or transfer as aforesaid, to accept such person to whom the Credit/Loan Facility is sold or transferred as his lender and make the repayment of the Credit/Loan Facility to such person as may be directed by the Bank. The Borrower shall not be entitled to directly or indirectly assign any or all of its rights or obligations under this Agreement in part or in whole to any person. The rights, powers and remedies available to the Bank under Law and under these present, shall be exercised by the Bank through any of its employees or agent and the Bank may delegate any or all of the said powers and authorities to such employee or agent.

I/we, further undertake the followings:

i) If at any time the Bank is of the opinion that the value of the said security/ guarantee prescribed/ provided for the Personal loan is not adequate or sufficient for the purpose of securing the due repayment of the loan, and monies due thereon, the Bank shall be entitled to call for any additional security by notice in writing and the Borrower shall be bound to comply with the said notice and provide any additional security satisfactory to the Bank within 30 days from the receipt of the letter.

ii) The Borrower confirms the accuracy of the information given in the loan application and further confirms that no material change or alteration has taken place subsequent to the date of application which would impact adversely the safety of amount granted by the Bank in any manner whatsoever.

iii) The Borrower declares and confirms that he/she is not a party to any litigation of any material character affecting the security and Borrower is not aware of any facts likely to give rise to such litigation or any material claims or enquiries from any tax authorities or other statutory authorities.

iv) All or any other conditions as specified in the most important information shall form an integral part of this Agreement and the most important information shall always be used in conjunction with this agreement at all times. Interest on the amount of the loan will be applied at the rate specified in the key fact sheet herein separately agreed.

v) All loans are at the sole discretion of Axis Bank and are subject to adherence of Terms and Conditions stipulated by the Bank and guided by Statutory and Regulatory directives from time to time. Axis Bank would have sole discretion on approval or disallowance of facilities, drawings beyond the sanctioned limits and disallowing drawing on a borrowal account on its asset classification or on account of any non-compliance with the terms of sanction. Axis Bank does not have an obligation to meet further requirements of the borrowers on account of growth in business etc. without proper review of credit limits.

vi) All disputes, differences and / or claim or questions arising out of these presents or in any way touching or concerning the same or as to constructions, meaning or effect thereof or as to the right, obligations and liabilities of the parties hereunder shall be referred to and settled by arbitration, to be held in accordance with the provisions of the Arbitration and Conciliation Act, 1996 including related rules and regulations and any other statutory amendments thereof, of a sole arbitrator to be nominated by the Lender/Bank, and in the event of death, unwillingness, refusal, neglect, inability or incapability of a person so appointed to act as an arbitrator, the Lender/Bank may appoint a new arbitrator to be a sole arbitrator. The arbitrator shall not be required to give any reasons for the award and the award of the arbitrator shall be final and binding on all parties concerned. The seat and venue of arbitration proceedings shall be at Chennai. The arbitral procedure shall be conducted in English.

vii) The Fair Practice Code for the Lenders as published on the Axis Bank's website, shall apply to the Loan. Copy of the Fair Practice Code for lenders as available on the Bank's website.

Applicable in cases where borrower is maintaining savings a/c with Axis Bank

Without prejudice to any other term of this Agreement, I expressly agree that any payment made by the Borrower to the Bank under this Agreement shall be appropriated by the Bank in the following order-

i) costs, charges and expenses that the Bank may expend to service, enforce and maintain the security and therefore recover the Personal Loan, interest and all sums due and payable by the Borrower to the Bank under this Agreement.

ii) interest on amounts in default and loss of profit on the defaulted amount/s

iii) prepayment charges

iv) interest

v) principal amount of the Personal Loan

I/we, agree that any delay or omission by the Bank in exercising any of its rights, powers or remedies as the lender of the loan under this Agreement and other documents pursuant hereto shall not impair the right, power or remedy or be construed as its waiver or acquiesce by the Bank. I/we, confirm that this Agreement and its Schedules and any other documentation pursuant to it represent one single agreement between the Parties.

Laws of India shall govern this Agreement, the security and other documentation pursuant hereto and Courts at Chennai, Tamil Nadu, India shall have exclusive jurisdiction over all aspects governing the interpretation and enforcement of this Agreement, the security and other documentation pursuant hereto.

The addresses of the Borrower and the Bank shall be as mentioned in the key fact sheet. The Borrower shall forthwith inform the Bank of any change in his/her Address (current residence and office). Any notice or request required or permitted under this Agreement to be given by either party to the other shall be only in writing and sent on the address of the other Party as mentioned in the key fact sheet (or in case to the Borrower, on the address of the Borrower last known to the Bank):

i) If given by the Bank, may be given by personal delivery, fax or by post and shall be deemed to have been served upon or received by the Borrower, if given by personal delivery, when so delivered and if by post on expiration of 3 days after the same has been delivered to the post office for onward transmission to the Borrower under certificate of posting; and

ii) If given by the Borrower to the Bank when it is actually received by the Bank.

1. SMA 0 - If due date of a loan account is March 31, 2021, and full dues are not received on this date, the account shall be SMA 0 on day end of March 31, 2021.
2. SMA 1 - If it continues to remain overdue, then this account shall get tagged as SMA-1 upon completion of 30 days of being continuously overdue i.e. April 30, 2021.
3. SMA 2 - If the account continues to remain overdue, it shall get tagged as SMA-2 on May 30, 2021.
4. NPA - If the account continues to remain overdue further, it shall get classified as NPA on June 29, 2021.

Last Updated On 7th March 2025

These terms apply to You if You use Services as described hereinafter.

By using the Services, You agree to be bound by the Terms of Use for Purnpay (“Terms of Use”), these additional terms and conditions (“Terms”) and all other terms, policies, and guidelines applicable to the Services (as defined in the Terms of Use) used.

PART I AND PART II OF THESE TERMS OF USE SHALL BE COLLECTIVELY REFERRED TO AS THE ‘TERMS’ AND SHALL ALWAYS BE READ TOGETHER.

PART – I

1. DEFINITIONS

   1.1. For the purpose of these Terms, wherever the context so requires, the term:

   1.1.1. “Customer” shall mean any individual, who as the counterparty transacts using the Platform for buying Gold (as defined below), taking delivery of Gold and/or selling back the Gold to DGIPL as outlined in these Terms.

   1.1.2. “Gold” shall mean 24 karat gold of 99.9% purity or higher, offered to the Customer by Digigold under the brand name “SafeGold”

   1.1.3. “Gold Account” shall mean the account created whether by You or otherwise, in accordance with these Terms.

   1.1.4 “Gold Account Information” shall mean the information provided by You for the purpose of creation of the Gold Account.

   1.1.5. “Customer Request” shall mean a Delivery Request, Sale Request or exchange request placed by You in relation to the Customer Gold.

   1.1.6. “Force Majeure Event” shall mean any event that is beyond the reasonable control of Purnpay and/or DGIPL and shall include, without limitation, sabotage, fire, flood, explosion, act of God, civil commotion, strikes, lockouts or industrial action of any kind, riots, insurrection, war, acts of government, computer hacking, civil disturbances, unauthorised access to computer data and storage device, computer crashes, virus attacks, breach of security and encryption, and any other similar events not within the control of Purnpay and/or DGIPL and which Purnpay and/or DGIPL is not able to overcome.

   1.1.7. “Person” shall mean an individual, a corporation, a partnership, a joint venture, a trust, an unincorporated organization, and any other legal entity.

   1.1.8. "Platform" shall mean, and include the mobile application and website by the name and style of ‘Purnpay’, that the Customer accesses for the transactions, including all contents, services and technology offered through the Platform.

   1.1.9. “Transfer” refers to a facility to transfer Gold from a Gold Account to another Gold Account.

   In addition to the terms defined in Section 1.1, additional terms used herein shall have the respective meanings assigned thereto in the relevant sections contained hereinafter.

2. TERMS AND CONDITIONS OF SERVICES BEING PROVIDED BY DGIPL

   2.1. Digital Gold India Private Limited, a company incorporated under the Companies Act, 2013 with its registered office at 1902 Tower B, Peninsula Business Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai, Maharashtra 400013, ("DGIPL") will be selling gold and providing services of safe keeping/vaulting and delivery/fulfilment of gold and related services thereto to the Customers, on or through the Platform (“Services”).

   2.2. The Gold is being offered for purchase and/or sale by DGIPL under its brand name “SafeGold”. The Services are being provided by DGIPL. ‘Purnpay Payment Technologies Private Limited’ a company incorporated in India under the Companies Act, 1956 and having its registered office at 11^th Floor, Tower C, DLF Cyber Greens, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122022 (“Purnpay”) is only facilitating the collection of payments for the Services on its Platform. Purnpay assumes no liability for the Services except for providing payment services and Customer Support in addressing the queries related to the Services and payments made in relation thereto. Any and all of the transactions relating to the Services are being rendered by DGIPL in association with the Intermediaries (namely the “Security Trustee” and “Vault Keeper”) with whom separate agreements have been entered into by DGIPL.

   2.3. The Customers are advised to read and understand these Terms carefully before using the Services.

   2.4. DGIPL and/or Purnpay does not guarantee any returns, on any transactions consummated vis-àvis the Platform, to any person, either directly or indirectly. The Customer (hereinafter referred to as “You”, with the term “Your” being construed accordingly) shall be solely responsible for undertaking appropriate and effective due diligence and related analysis before undertaking any transactions pursuant to these Terms of Use. You further acknowledge and agree that DGIPL and/or Purnpay and its officers, directors, employees, agents and affiliates will have no liability for Your purchase or other decisions using the Platform.

   2.5. The Services by DGIPL shall be provided for a term commencing from the date of creation of the Gold Account.

   2.6. You understand and acknowledge that the Services are being provided and made available on an “AS IS” and “AS AVAILABLE” basis. The Platform may contain errors or inaccuracies that could cause failures, corruption or loss of data and/or information from Your device and/or any device used by You to connect to the Platform as well as from peripherals (including, without limitation, servers and computers) connected to any of the above-mentioned devices. You assume all risks and costs associated with Your use of the Services and the Platform, including without limitation, any costs incurred for the use of Your device and any damage to any equipment, software or data.

   2.7. You confirm that You are not registered under the Goods and Services Tax Act, 2017 andthat if, in the course of Your relationship with DGIPL, You become registered under the Goods and Services Tax Act, 2017, You shall inform DGIPL of Your change in status immediately, and provide any relevant information and documents, as may be requested.

3. SECURITY TRUSTEE, INTERMEDIARIES AND SAFE KEEPING ARRANGEMENT

   3.1. Appointment of Intermediaries

   3.1.1. DGIPL or the Security Trustee (as the case may be) may from time to time appoint intermediaries who shall assist DGIPL in providing the Services to You (“Intermediaries”). The term, “Intermediaries” shall mean the Security Trustee, Vault Keeper and shall include any and all Persons appointed by DGIPL or the Security Trustee (as the case may be) upon placement of a Customer Order (and successful payment of monies in lieu thereof) till the consummation of the Customer Requests placed by You in accordance with these Terms. You hereby consent to the appointment of such Intermediaries, for and on Your behalf, by DGIPL or the Security Trustee (as the case may be).

   3.1.2. You acknowledge and understand that these Intermediaries have been appointed to ensure that Your Customer Orders/Customer Requests are duly complied with in accordance with these Terms. You additionally acknowledge that certain payments will have to be made to these Intermediaries for their appointment and services in relation thereto, which shall be borne by DGIPL on Your behalf unless otherwise indicated in these Terms.

   3.2. Appointment of Security Trustee

   3.2.1. You hereby acknowledge and agree that in order to ensure that Your Customer Orders/Customer Requests are fulfilled in all circumstances, a first and exclusive charge on the Customer Gold by way of hypothecation will be created in favour of IDBI Trusteeship Services Limited or any successor Person (“Security Trustee”).

   3.2.2. By accepting these Terms, You further agree to accede to the terms for such arrangement with the Security Trustee (i.e., a security trustee agreement) and for creation of the charge over the Customer Gold by way of a deed of hypothecation or the like (collectively, “Security Trustee Agreements”). By clicking on “I Accept”, You acknowledge that You will accede to the Security Trustee Agreements (upon such date) as if You had been named as an original party to the same and had executed each of such Security Trustee Agreements; and will be bound by all the terms and conditions of the Security Trustee Agreements.

   3.2.3. In the event of any expenses or charges remaining payable to any Intermediaries or otherwise till actual delivery or fulfilment of any of Your Customer Orders/Customer Requests for any reason, including where DGIPL is unable to pay these expenses or charges for any reason whatsoever, thereby adversely effecting or jeopardizing the fulfilment of Your Customer Orders/Customer Requests, then the Security Trustee will be entitled to sell part of the Customer Gold and satisfy such outstanding expenses or charges as required in accordance with these Terms read with the Security Trustee Agreements. The sums due to You and/or gold to be delivered (as the case may be), after settling the aforementioned charges, would be dealt with in accordance with these Terms read with the Security Trustee Agreements.

   3.2.4. By way of these Terms, You authorize the Security Trustee to act on Your behalf to ensure that Your interests are adequately protected.

   3.3. Safe Keeping/Vaulting of Gold

   3.3.1. Gold purchased by You corresponding to the Customer Order shall be stored with a custodian in a vault on Your behalf (“Vault Keeper”).

   3.3.2. You hereby authorize (i) appointment of such Vault Keeper to safe keep the gold purchased; and (ii) DGIPL to store such gold products purchased by You, including, but not limited to, bullion, coins or jewellery (as the case may be) in the secured vault on Your behalf (“Customer Gold”). It is hereby clarified that Your purchase of the gold corresponding to the Customer Order shall be deemed to be completed and title in relation thereto shall be deemed to have been passed upon such relevant portion of the Customer Gold being stored in the vault with the Vault Keeper on Your behalf or upon a final invoice being issued by DGIPL in accordance with these Terms, subject to applicable laws.

   3.3.3. To ensure that the Customer Gold stored in such vault is adequately protected, necessary insurance policy/ies has been obtained by the Vault Keeper, where the cost of insurance to safe keep the same will be borne by the Vault Keeper. Pursuant to such insurance policy/ies, for any loss or damage to the Customer Gold stored in the vault, You further authorize the Security Trustee to act as Your beneficiary under the insurance policy/ies and to take all steps necessary to protect Your interests.

   3.3.4. While the Vault Keeper has taken the necessary insurance policy/ies, in case of occurrence of an event not covered in such insurance policy/ies, the Customer Gold may be at risk. The insurance policy/ies obtained by the Vault Keeper are in line with the global industry practices and cover losses due to fire, lightning, theft, cyclone, earthquake, flood, etc. but do not cover losses due to events such as war, revolution, derelict weapons of war, nuclear radiation, etc.

4. STORAGE OF GOLD

   You are required to take delivery of Your Customer Gold within such maximum period as shall be specified for this purpose by DGIPL from time to time on the Platform (“Maximum Storage Period”). For the purposes of making delivery to You, You are required to provide a valid address and/or any other documents/information/ biometric identification that may be specified in this regard by Purnpay and/or DGIPL on the Platform from time to time. You may provide such address at any time during the Maximum Storage Period. In the event that no valid address has been provided by You during the Maximum Storage Period, then Purnpay and/or DGIPL shall for a period 1 year commencing from the date of expiry of Maximum Storage Period (such period being the “Grace Period”) attempt at least once to contact You using the contact information provided by You to obtain either (i) an address to which You would require the gold in question to be delivered or (ii) Your bank account details into which sale proceeds of the Customer Gold shall be deposited. In the event that Purnpay and/or DGIPL has not been able to contact You during the applicable Grace Period using the contact information provided by You or where You shall during the Grace Period either fail to:

   1. take delivery of the gold in question for any reason whosoever (including where You shall not have provided any address to take delivery of such gold); or
   2. provide the details for a valid bank account into which the proceeds of any sale of such Customer Gold is to be deposited;

   then upon expiry of the applicable Grace Period for the Customer Gold in question, DGIPL shall purchase such Customer Gold with the purchase price being the applicable prevailing price displayed on the Platform for purchase of gold from Customers. The purchase proceeds realized from such sale (“Final Sale Proceeds”) after deducting any amounts payable to DGIPL as storage charges for storage of such gold after the Free Storage Period, shall be deposited into a no-lien bank account operated by the Security Trustee who shall be the sole signatory to such bank account. In the event that You shall during a period of 3 years commencing from the date of expiry of the applicable Grace Period (such period being the “Final Claim Period”) notify either Purnpay, DGIPL or the Security Trustee that You are claiming the applicable Final Sale Proceeds, the Security Trustee shall issue suitable instructions to transfer the Final Sale Proceeds to such bank account as You shall notify for this purpose. Please note that to claim the Final Sale Proceeds You will be required to provide details of a valid bank account and that the Final Sale Proceeds will not be transferred in the absence of such details. At no time will the Final Sale Proceeds be paid to You in cash. In the event that You shall not claim Your Final Sale Proceeds within the Final Claim Period, then the Final Sale Proceeds shall be transferred to the Prime Minister’s Relief Fund or such other fund as You may designate for this purpose at any time prior to the expiry of the Grace Period.

5. FORCE MAJEURE

   If performance under these Terms is prevented, restricted, delayed or interfered with by reason of labour disputes, strikes, acts of God, floods, lightning, severe weather, shortages of materials, rationing, inducement of any virus, Trojan or other disruptive mechanisms, any event of hacking or illegal usage of the Platform, utility or communication failures, earthquakes, war, revolution, acts of terrorism, civil commotion, acts of public enemies, blockade, embargo or any law, order, proclamation, regulation, ordinance, demand or requirement having legal effect of any government or any judicial authority or representative of any such government, or failure of any device used to access the Platform, or any other act whatsoever, whether similar or dissimilar to those referred to in this section, which are beyond the reasonable control of Purnpay and/or DGIPL and could not have been prevented by reasonable precautions then Purnpay and/or DGIPL shall be discharged from such performance to the extent of and during the period of such force majeure event. Such non-performance by Purnpay and/or DGIPL shall, in no manner whosoever, amount to a breach of its obligations herein.

6. TERMINATION OF SERVICES BY DGIPL

   6.1. DGIPL, in its sole discretion, may modify, suspend, or terminate access to or may require the Platform to modify, suspend, or terminate access to, all or any portion of the Platform or Your ability to access any Services through the Platform at any time for any reason including termination for breach of any of these Terms or occurrence of a Customer EoD or the Privacy Policy. The term “Customer EoD” shall mean any default by a Customer of its obligations owed to the Security Trustee, under the Security Trustee Agreements provided that for the purposes of enforcing the hypothecation created by You in favour of the Security Trustee, the Security Trustee would be required to first obtain a suitable order / direction passed in its favour from a competent judicial or statutory authority having jurisdiction in the matter.

   6.2. These Terms shall further stand terminated:

   6.2.1. if DGIPL is adjudged bankrupt or declared insolvent;

   6.2.2. if DGIPL ceases to carry on its business or has communicated to the Security Trustee any intention to cease to carry on its business;

   6.2.3. if DGIPL breaches any of the terms and conditions under the Security Trustee Agreements or Terms and DGIPL does not remedy such breach within 60 (Sixty) days of being called upon to do so by the Security Trustee;

   6.2.4. upon any corporate action (excluding any third party corporate action), legal proceedings or other procedures or steps being taken in relation to the suspension of payments, winding up, dissolution, administration, provisional supervision or reorganization or restructuring (by way of voluntary arrangement, scheme of arrangement or otherwise) of DGIPL;

   6.2.5. upon DGIPL commencing a voluntary proceeding under any applicable bankruptcy, insolvency, winding up or other similar applicable law now or hereafter in effect, or consenting to the entry of an order for relief in an involuntary proceeding under any such applicable law, or consenting to the appointment or taking possession by a receiver, liquidator, assignee (or similar official) for the whole or a substantial part of its property or takes any action towards its re-organization, liquidation or dissolution;

   6.2.6. upon an order being made for the winding up, bankruptcy or dissolution of DGIPL, or an application is admitted for initiating any corporate insolvency resolution process against DGIPL in accordance with Applicable Law;

   6.2.7. upon any encumbrancer lawfully taking possession, or a liquidator, judicial custodian, receiver, administrative receiver or trustee or any analogous officer having been appointed in respect of the whole or a substantial part of the property of DGIPL, or an attachment, sequestration, distress or execution (or analogous process) being levied or enforced upon or issued against whole or a substantial part of the assets or property of DGIPL, or any action has been taken or suffered against DGIPL towards liquidation or dissolution or similar reorganization; or

   6.2.8. upon a liquidator or provisional liquidator being appointed to DGIPL or a receiver, receiver and manager, trustee or similar official being appointed in respect of DGIPL or any of its assets, or an event analogous.

   6.3. Upon the happening of any of the events referred to in Section 6.2, and where there is any insufficiency of DGIPL funds required to pay any costs and expenses to be incurred in relation to providing delivery of Your Customer Gold to You, then in such an event You do hereby authorise the Security Trustee to sell any part of the Customer Gold, that is necessary or required to defray such costs and expenses.

   6.4. Pursuant to the Security Trustee Agreements, DGIPL has created acharge by way of hypothecation in favour of the Security Trustee for the benefit of the Customers over: (a) the monies lying in the Collection Account from time to time; and (b) gold purchased by DGIPL from time to time and lying with the Vault Keeper or in transit and, which is the property of DGIPL; (collectively “Security”). Upon the occurrence of any of the events detailed in Section 6.1 and 6.2, the Security Trustee under the Security Trustee Agreements is to: (i) declare all outstanding amounts as due and payable to the Security Trustee forthwith; and (ii) take charge and/or possession of, seize, recover, receive and remove the Security and use the same to discharge any liability of DGIPL to the Customers. You however expressly understand and acknowledge that any enforcement of the Security would always be subject to and undertaken in accordance with the provisions of Applicable Law and therefore:

   (i) it is not possible to accurately predict the time required to make any such distribution; and/or

   (ii) the amount received by You from such distribution may not be sufficient to completely extinguish DGIPL’s liability to You;

   and consequently, no liability shall accrue to the Security Trustee in relation to the above.

7. CONSEQUENCES OF TERMINATION OF SERVICES BY DGIPL

   7.1. Upon such termination for any reason whatsoever, subject to these Terms read with the Security Trustee Agreements:

   7.1.1. Fractional amounts for gold holdings of less than 1 (One) gram may be sold and cash in pursuance thereto will be sent directly to Your bank account, after deducting all the requisite charges relating to appointment of Intermediaries (including but not limited to charges due and payable to Intermediaries and any other out of pocket expenses, custody charges, minting and delivery charges) (“Charges”).

   7.1.2. For larger gold holdings, the Security Trustee shall (to the extent You have not already paid for all the Charges) be allowed to sell part of Your gold to pay for all the Charges to all the Intermediaries. The remaining portion of the gold shall be delivered to You in accordance with these Terms, along with the details of the deductions made and the quantum of gold that You are entitled to receive.

   7.2. You acknowledge that the termination of Your access to the Platform and Services may be affected without any prior notice, and the Gold Account may be immediately deactivated or deleted and all related information and/or bar any further access to the Gold Account the Platform or the Services. Further, You agree that Purnpay and/or DGIPL shall not be liable for any discontinuation or termination of Services by any third party.

   7.3. None of Your content shall remain accessible on the Platform upon termination. This information cannot be recovered by You, once the account is terminated.

   7.4. The disclaimer of warranties, the limitation of liability, and the governing law provisions shall survive any termination of these Terms.

8. GOVERNING LAW AND DISPUTE RESOLUTION

   These Terms shall be governed by and interpreted and construed in accordance with the laws of India. The courts of Mumbai shall have exclusive jurisdiction over any disputes arising under these Terms. In the event of any dispute arising out of these Terms the same shall be settled by a binding arbitration conducted by a sole arbitrator, appointed jointly by both parties and governed by the Arbitration and Conciliation Act, 1996. The venue of arbitration shall be Mumbai, Maharashtra, India.

PART – II

9. CREATION OF GOLD ACCOUNT AND REGISTRATION OBLIGATIONS

   9.1. Before availing the Services, the Customer shall complete registration process as may be prescribed from time to time. The Customer shall follow the instructions given in the Platform for opening a Gold Account. Purnpay and/or DGIPL shall be entitled to collect and store relevant information and documents provided by the Customer to the Platform for KYC purposes. As and when required by DGIPL and/or Purnpay, the Customer will be required to provide additional documents for fulfilling the KYC requirements. You authorize DGIPL and Purnpay to make such enquiries as may be necessary to satisfy about the validity of Your identity. You shall be responsible for the correctness of information provided to DGIPL and Purnpay from time to time. If You have reasons to believe that there is an error in the information furnished by You, You shall immediately provide correct / updated information.

   9.2. Purnpay and/or DGIPL through Purnpay, reserves the right to terminate any Gold Account, with or without notice to You, in the event the KYC documents / information are found to be incorrect, or authenticity of the documents / information is found to be doubtful. You hereby undertake to indemnify and keep indemnified Purnpay and/or DGIPL against any and all losses, claims, liabilities costs etc. which arise out of or relating to Your failure to identify Yourself and validate Your account promptly and / or due to incorrect KYC documents / information.

   9.3. Know Your Customer (KYC) and Verification

   9.3.1. Prior to placing an order, You may be required to provide certain KYC documentation and other information as may be required by Purnpay and/or DGIPL in such form and manner as it may deem fit.

   9.3.2. Once such documentation and other information is provided by You to Purnpay, You shall be entitled to place an order on the Platform (“Customer Order”).

   9.3.3. You agree that Your continued use of the Platform, consequent upon the creation of the Gold Account, is subject to verification by DGIPL and/ or Purnpay (on behalf of DGIPL), of the information and documentation provided by You. You hereby grant DGIPL and/ or Purnpay permission to conduct such verification, in such form and manner as it may deem fit.

   9.3.4. You further acknowledge that DGIPL and/ or Purnpay reserves the right for such verification either on registration of the Gold Account or at any time thereafter.

   9.4. Customer’s Obligations

   9.4.1. You will be responsible for maintaining the confidentiality of the Gold Account Information and shall be fully responsible for all activities that occur under the Gold Account. You agree to immediately notify Purnpay and/or DGIPL of any unauthorised use of the Gold Account Information or any other breach of security. DGIPL or Purnpay cannot and will not be liable for any loss or damage arising from Your failure to comply with this section. You may be held liable for losses incurred by DGIPL or Purnpay or any user or visitor of the Platform due to authorised or unauthorised use of the Gold Account, as a result of Your failure in keeping the Gold Account Information confidential.

   9.4.2. You shall ensure that the Gold Account Information provided by You in the registration form is complete, accurate and up-to-date. Use of another Customer’s account information for availing of any of the Services and/or for use of the Platform is expressly prohibited.

   9.4.3. You agree that if You provide any information that is untrue, inaccurate, not current or incomplete, (or becomes untrue, inaccurate, not current or incomplete) or if Purnpay and DGIPL has reasonable grounds to suspect that such information is untrue, inaccurate, not current, incomplete, or not in accordance with these Terms, Purnpay and DGIPL through Purnpay shall have the right to indefinitely suspend or terminate or block access to the Gold Account on the Platform and refuse to provide You with access to the Platform.

10. PURCHASE OF GOLD

    10.1. You can offer to buy Gold worth Rs.1.00 (Rupee One Only) and above incremental value thereof at the market linked prices of gold shown on the Platform. Market linked prices meansthat these quotes are linked to the prices of gold in the commercial bullion market in India.

    10.2. It is hereby clarified that such market linked prices of gold shall constitute fully binding offers and would be an invitation to offer to purchase gold at the said market prices to all Customers. Notwithstanding the foregoing, You understand that these prices may vary multiple times within a day, and accordingly Your payment obligations for any order will depend on the market linked prices then prevailing. While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.

    10.3. Payment will be accepted through the payment options made available on the Platform, which may include redirection to a Payment Gateway hosted by other third party website or platform, including by DGIPL. At the time of purchase / fulfilment / sale-back / transfer of Gold, the relevant taxes will be chargeable as applicable as per the Government regulations. It is hereby clarified that once a Customer Order is placed, You are not entitled to cancel a Customer Order, provided however that a Customer Order shall stand cancelled if the payment fails for any reason whatsoever.

    10.4. Purnpay and/or DGIPL reserves the right to cancel a Customer Order, at its sole discretion, if Your information, provided prior to placing the Customer Order, is not found acceptable and Purnpay and/or DGIPL are of the opinion that You are not eligible to purchase gold. The Gold Account shall accordingly stand amended. Purnpay as well as DGIPL shall have the right to freeze the Gold Account until it receives KYC and other documentation in a form and manner satisfactory to Purnpay and DGIPL.

    10.5. Once the payments are received by DGIPL and the KYC information is found acceptable, DGIPL shall issue an invoice to You confirming the Customer Order placed within a period of 3 (Three) business days of placing such order, in a manner it may deem fit.

    10.6. Notwithstanding anything to the contrary contained in these Terms, Purnpay and/or DGIPL shall be entitled to accept or reject a Customer, for any reason whatsoever, at its sole discretion.

    10.7. In case of rejection of a Customer Order in accordance with these Terms, where payments have been received by DGIPL, such payments shall be returned to You to the bank account linked to Your account, subject to the terms and conditions indicated on the Platform.

11. DELIVERY OF GOLD

    11.1. This Platform offers Services for Customers who wish to procure delivery of the Customer Gold in accordance with these Terms.

    11.2. You shall be entitled to procure delivery of the Customer Gold using the Platform (“Delivery Request”).

    11.3. Upon placing the Delivery Request, You shall be required to pay for the applicable charges and confirm the Delivery Request. Your Gold Account shall be provisionally debited corresponding to the quantity of the Customer Gold sought to be delivered (“Delivered Customer Gold”).

    11.4. Within a period of 7 (Seven) business days of the Delivery Request being confirmed or such further period as may be required by DGIPL, DGIPL shall arrange for delivery of the Delivered Customer Gold at the shipping address indicated by You. You shall be solely responsible for ensuring that the correct address is furnished by You on the Platform for processing such Delivery Request. You shall not be entitled to change the shipping address after the Delivery Request is processed byDGIPL.

    11.5. You should carefully examine the package delivered and shall not accept deliveries where the packaging has been tampered with. If, however, You are of the view that the package delivered has been tampered with, You shall be required to intimate DGIPL immediately of the same, and provide such other information as may be required by DGIPL in this regard (“Return Request”). Within a period of 14 (Fourteen) business days of the original package of Delivered Customer Gold being delivered back to DGIPL, in a manner indicated by DGIPL, and the Return Request being approved by DGIPL, DGIPL shall arrange for re-delivery of the Delivered Customer Gold at the shipping address indicated by You. The costs for such shipping shall be borne by DGIPL. However, in the event of frivolous and unjustified Return Requests made by You, Purnpay and/or DGIPL reserve the right to take all action available to it, including black-listing or blocking You from using the Services on the Platform.

    11.6. You, upon signing the delivery receipt, acknowledge the receipt of the Delivered Customer Gold in terms of the Delivery Request placed with DGIPL. DGIPL shall not be liable to You for any refund/replacement, under any circumstance, for any subsequent complaints with respect to such deliveries and/or any failure on Your part (as the case may be) to comply with these Terms.

    11.7. Upon receipt ofthe Delivery Request by DGIPL, the Gold Account shall be debited for the Delivered Customer Gold from the Gold Account.

    11.8. It shall be Your responsibility to ensure that You are available to receive the Delivered Customer Gold at the time of delivery. If You are not available at the time of delivery, DGIPL courier agent may try and deliver the item again before returning the same to DGIPL. In case of return of the Delivered Customer Gold to DGIPL, Gold Account shall be credited for the Delivered Customer Gold, after deducting the charges (if any) due from You, provided however that DGIPL is of the opinion that the packaging has not been tampered with. It is hereby clarified that should a request for re-delivery be made by You, You shall be solely liable to incur the applicable charges for delivering the Delivered Customer Gold.

    11.9. In case of DGIPL’s inability to make deliveries of Delivered Customer Gold due to a Force Majeure Event, DGIPL shall intimate You of the same and may require that the deliveries be effectuated through specific modes. In such a case, You hereby agree to bear any additional costs and fees necessary for the delivery to be complete.

    11.10. DGIPL will not be able to deliver a fractional quantity of gold below such threshold as DGIPL shall notify for this purpose even if a Customer Request is made for such fractional quantity ( “Threshold Quantity”). You are advised to check the Platform periodically to determine the Threshold Quantity as the same may be revised from time to time. In the event that any Gold below the Threshold Quantity is to be delivered to You, then please note that such Customer Gold shall instead be sold by DGIPL based on the sale prices displayed on the Platform and You will instead receive the applicable sale proceeds in Your bank account, details of which are provided by You. If there is any mistake in the account number provided by You, Purnpay and/or DGIPL would not be held responsible for the same.

    11.11. Notwithstanding anything to the contrary contained in these Terms, DGIPL shall be entitled to reject a Customer Request which is not in compliance with the Terms hereof, and shall intimate the Customer of the reasons for the same.

    11.12. Based on the changes made to the Gold Account (in lieu of the Customer Orders and/or Customer Requests), if You are of the opinion that the changes made thereto do not tally with the orders and/or Customer Requests placed by You, You may contact Purnpay at care@Purnpay.com (or such other address as may be communicated by Purnpay in this regard), who shall accordingly take all necessary actions for taking care of any such identified discrepancies.

    11.13. It is hereby clarified that the Customer Gold cannot be pledged or transferred by You to any other user, and the Gold Account is non-transferrable, unless specifically allowed by DGIPL. In the event of Your death, if specifically allowed by DGIPL, the title to such Customer Gold lying in the vault and the Gold Account shall transfer to Your legal heirs only after the required due diligence has been conducted. Subsequent to this, Your legal heir(s) shall be regarded as the Customer for the purpose of the Customer Gold and Gold Account thereafter and the Terms shall be applicable to Your legal heir(s).

    11.14. It is hereby clarified that the Platform displays the articles that are available for shopping. Some items may appear slightly larger or smaller than actual size due to screen defaults and photography techniques. Purnpay and DGIPL shall not be liable for any legal action on this account. It shall be the endeavour of Purnpay to ensure that all details regarding the product are clearly displayed on the Platform.

    11.15. Due to reasons not directly attributable to DGIPL or Purnpay, data may be inaccurately displayed on the Platform due to some system errors on the Platform or any device used to access the Platform. Purnpay reserves the right to correct any and all errors when they do occur, at its sole discretion, and Purnpay or DGIPL shall be entitled to not honour any requests/orders placed by You based on any inaccurate or erroneous prices.

    11.16. The prices quoted on the Platform are fixed and not negotiable. The prices on the Platform are also subject to change without notice to You.

    11.17. It is hereby clarified that the delivery of the gold is managed by DGIPL, so all the delivery related concerns need to be directly reported to DGIPL. DGIPL shall be entitled to provide resolution after due investigation of the case. Purnpay will not be liable for any delivery related issues.

12. SELL THE CUSTOMER GOLD

    12.1. You may be provided an option to sell the Customer Gold during market hours based on the sale prices on the Platform. If the prices are found acceptable to You, You shall confirm the sale request, in a form and manner acceptable to DGIPL (“Sale Request”). Your Gold Account shall be debited corresponding to the quantity of the Customer Gold sought to be sold vide the Sale Request ( “Sold Customer Gold”).

    12.2. Within a period of 2 (Two) business days of the Sale Request being confirmed or such further period as may be required, the payment, pursuant to the Sale Request, shall be disbursed by DGIPL at the sale prices indicated at the time of placing such Sale Request. DGIPL shall arrange for such payments to be made to Your bank account, details of which are provided by You. If there is any mistake in the account number, ISC code etc. provided by You, DGIPL would not be held responsible for the same.

    12.3. It is hereby clarified that DGIPL and/or Purnpay will provide this service on a best efforts basis and only when the commercial bullion market is in operation. DGIPL and Purnpay do not in any way guarantee that this option will be available to You at all times. Further, the buyer of the Sold Customer Gold may be either DGIPL or another party (being interested in buying the Sold Customer Gold). Purnpay and/or DGIPL shall not be held liable for any actions of such third-party purchaser.

    12.4. You will be provided with free storage for Your Customer Gold for such period as more particularly stipulated by DGIPL in this regard from time to time at its sole discretion and notified to Customers on the Platform (“Free Storage Period”). After the expiry of the Free Storage Period, DGIPL shall be entitled to levy storage charges for such Customer Gold at such rate as would be specified on the Platform, and which may be revised from time to time. The charges would be levied by deducting the gold balance at the end of each month by a percentage amount at the specified rate. You are advised to periodically check the Platform to understand these storage charges. In the event, DGIPL is not able to deduct the storage charges because Your gold balance is too low, then DGIPL shall be entitled to sell such portion of Your Customer Gold stored with the Vault Keeper that is necessary or required to recover the unpaid storage charges in question.

    12.5. While reasonable efforts will be made to offer You a competitive price for the Customer Gold, there is no guarantee that the price offered to You will be close to or comparable with other prices available in the market.

    12.6. Change in Mobile Phone Number: In the event that You update the mobile phone number associated with Your Purnpay Account, Your Gold Account information will not be visible on the Platform. Accordingly, You can either:

    12.6.1. update Your mobile phone number on the Platform and Sell the Customer Gold linked to Your existing mobile phone number by visiting the DGIPL website, i.e., https://www.safegold.com;

    or

    12.6.2. sell the Customer Gold linked to Your existing mobile phone number by placing a Sale Request through the Platform and update Your mobile phone number after the payment with respect to sale of Gold is disbursed to You.

13. . USE OF THE PLATFORM AND SERVICES

    13.1. You acknowledge that the Services are for Your personal use and agree not to publish the gold prices or descriptions of gold and/or any other information displayed on the Platform (in lieu of Your access to the Platform) on any other medium. You shall not modify, copy, distribute, transmit, display, perform, reproduce, publish, license, create derivative works from, transfer, or sell any information, software, products, or services obtained from the Services.

    13.2. Subject to these Terms and the Privacy Policy, You hereby grant to DGIPL and Purnpay a nonexclusive, worldwide, royalty-free right to (a) collect, store, and transmit Your data, in each case solely to the extent necessary to provide the Services to You, and (b) share Your data or interact with other people, to distribute and publicly perform and display Your data as You direct or enable through the Services. You will provide Your consent to Purnpay as may be required under applicable law for the use and/or sharing of any data generated by You when purchasing Gold or otherwise using the Platform for any services related to the purchasing of the Gold in such manner as Purnpay may stipulate in this regard. Purnpay may share Your data with DGIPL, who, in turn, may share Your data with the Security Trustee as required to fulfil their obligations as a Security Trustee. Your data will continue to be governed by confidentiality obligations outlined in Section 20. It is hereby clarified that DGIPL would be the owner of any data generated by You when purchasing the Gold on the Platform.

    13.3. You represent and warrant that: (i) You have obtained all necessary rights, releases and permissions to provide all Your data to Purnpay and DGIPL and to grant the rights granted to Purnpay and DGIPL in these Terms and (ii) Your data and its transfer to and use by Purnpay and DGIPL as authorized by You under these Terms do not violate any laws or rights of any third party, including without limitation any intellectual property rights, rights of privacy, or rights of publicity, and any use, collection and disclosure authorized herein is not inconsistent with the terms of any applicable privacy policies. Other than its security obligations under these Terms and the Privacy Policy, Purnpay and/or DGIPL assume no responsibility or liability for Your data, and You shall be solely responsible for Your data and the consequences of using, disclosing, storing, or transmitting it.

    13.4. Purnpay and/or DGIPL shall not be held liable for any loss of data, technical or otherwise, information, or for particulars supplied by You, due to the reasons beyond its control like corruption of data or delay or failure to perform as a result of a Force Majeure Event.

    13.5. DGIPL shall have the sole discretion to determine the locations and pin codes it may want to serve.

    13.6. The provision of Services may be interrupted, including for maintenance, repairs, upgrades, or network or equipment failures. Purnpay and DGIPL strives to keep the Services up and running; however, all online services suffer occasional disruptions and outages. Purnpay and DGIPL are not liable for any disruption or loss You may suffer as a result.

    13.7. DGIPL may discontinue some or all of the Services, including certain features and the support for certain devices and platforms, at any time.

14. SUSPENSION / CLOSURE OF GOLD ACCOUNT

    14.1. DGIPL may, at its discretion, suspend Gold Account of Customers, if there appearsto be a fraudulent or suspicious activity in the account. If Purnpay and/or DGIPL are of the opinion that You are involved in any unlawful activity or the Gold Account is used for any unlawful purpose, Purnpay and/or DGIPL shall have the right to take all actions available to it, including black-listing or blocking You from using the Services on its Platform or blocking Your access to the Services through the Platform or intimating the relevant authorities of such unlawful activities.

    14.2. Your Gold Account may be closed in the event that the arrangement between DGIPL and Purnpay is terminated or otherwise Purnpay decides to discontinue the relationship with DGIPL. In such an event, the Your Gold balance may be accessible on www.safegold.com and DGIPL may continue to provide the Services and the customer support or facilitate the delivery / sale of Your Gold balance.

    14.3. Each of Purnpay and DGIPL shall not be held liable / responsible, in any manner whatsoever, for any loss / liability arising out of or relating to any technical failure / issue in Platform and / or acts / omission not attributable to it.

    14.4. You shall inform immediately, in any case no later than 10 (ten) days of the transaction, of any irregularities or discrepancies that may exist in Your Gold Account, failing which it shall be deemed that there is no error or discrepancy in the account. All records maintained by Purnpay and/or DGIPL, in electronic or documentary form of the instructions of the Customer and such other details (including, but not limited to payments made or received) pursuant to the Terms, shall as against the Customer, be deemed to be conclusive evidence of such instructions.

15. FEES

    15.1. You hereby agree that You shall be liable for all fees and charges associated with the use of the Platform and Services. Further, details of the fees payable (including, but not limited to the terms pertaining to such fees and the quantum thereof), has been set out on the Platform. Please note that the fees and charges may be revised from time to time and it would be Your responsibility to view the Platform to check the then current fees and charges payable.

    15.2. It is hereby clarified that fees and charges, once paid, are non-refundable.

    15.3. All payments made for the use of the Platform and/or purchase of Customer Gold by You shall be compulsorily in Indian Rupees.

    15.4. While availing any of the payment method/s available on the Platform for availing the Services, Purnpay and DGIPL shall not be responsible for or assume any liability, whatsoever in respect of any loss or damage arising directly or indirectly to You due to:

    15.4.1. Lack of authorization for any transaction(s), or

    15.4.2. Exceeding the preset limit mutually agreed by You and between bank/s and/or other institutions used by You in making payment, or

    15.4.3. Any payment issues arising out of the transaction, or

    15.4.4. Rejection of transaction for any other reason(s) whatsoever.

    15.5. DGIPL may temporarily/permanently suspend/terminate the Gold Account or refuse access in case of non-payment of fees due by You. Without limitation to the other rights and remedies available to DGIPL, it also reserves the right to take legal action for the same.

16. MEMBER ELIGIBILITY

    Use of the Platform and/or the Services is available only to Persons who can enter into legally binding contracts under the Indian Contract Act, 1872 and to Personsresident in India. Persons who are "incompetent to contract" within the meaning of the Indian Contract Act, 1872 including minors, un-discharged insolvents and persons of unsound mind are not eligible to use the Platform or the Services. Any person under the age of 18 shall not register on the Platform and shall not transact on or use the Platform in relation to or for any Services. DGIPL reserves the right to terminate any Person’s membership and/or refuse to provide such Person with access to the Platform and/or any Services if it is brought to DGIPL’s notice or if it is discovered that such Person is not eligible to use the Platform and/or any Service.

17. ABSENCE OF RELATIONSHIP

    17.1. You represent and warrant to Purnpay and DGIPL that You have sufficient experience and knowledge to make informed decisions to purchase / sell Gold. You acknowledge that You have not relied on any information made available either by Purnpay or DGIPL and that Purnpay or DGIPL is not making any recommendation with respect to such purchases / sale-back of Gold. No relationship other than seller-purchaser, including, without limitation, any agent-principal relationship, any advisor-advisee relationship, any employee-employer relationship, any franchiseefranchisor relationship, any joint venture relationship or any partnership relationship, exists between You and Purnpay and/or DGIPL.

    17.2. You acknowledge that DGIPL and Purnpay are not providing / dealing in / offering any investment product and does not offer any guarantee / assured returns. You further acknowledge that value of Gold may vary depending on various factors and forces.

18. ELECTRONIC ORDER RISKS

    Commercial internet service providers are not 100% reliable and a failure by one or more of these providers may affect internet-based order entry. You acknowledge that the order entry system is an electronic mechanical system and as such may be subject to failure beyond the control of Purnpay or DGIPL. Therefore, Purnpay or DGIPL shall not be responsible for errors, negligence, inability to execute orders, delays in transmission, delivery or execution of order due to breakdown or failure of transmission or communication facilities (including in any device used to connect to the Platform), or to any other cause beyond Distributing Partner’s or DGIPL’s control or anticipation.

19. FEEDBACK

    19.1. The Platform may allow You to post Your review and experience of using the Platform ("Reviews") in order to improve the Platform and the user experience.

    19.2. You, being the originator of the Reviews, are responsible for the Reviews that You upload, post, publish, transmit or otherwise makes available on the Platform. You represent that all such Reviews will be in accordance with applicable law. You acknowledge that Purnpay and/or DGIPL does not endorse any Reviews on the Platform and is not responsible or liable for any Reviews. Purnpay reserves the right to disable access to the Reviews on the Platform.

    19.3. You hereby grant Purnpay a perpetual, non-revocable, worldwide, royalty-free and sub-licensable right and license to use, copy, distribute, display, publish, transmit, make available, reproduce, modify, adapt the Reviews in any manner as deemed appropriate by Purnpay in any form including but not limited to print, broadcast, online and across any and all websites and platforms owned by Purnpay.

    19.4. You further represent and warrant that while posting any Reviews on the Platform You shall not use any offensive, libellous, derogatory, hateful or racially or ethnically objectionable language. Further, You shall not post any content on any part of the Platform that is obscene, pornographic, constitutes an “indecent representation of women” as provided in the Indecent Representation of Women (Prohibition) Act, 1986.

20. CONFIDENTIALITY

    As elaborated under the Privacy Policy, Purnpay and DGIPL will keep all confidential information confidential, including Your personal information, and shall not disclose it to anyone except as required by law, and shall ensure that such confidential information is protected with security measures and a degree of care that it would apply to its own confidential information. Purnpay and DGIPL acknowledges that its employees, directors, agents and contractors shall use the confidential information only for the intended purpose for which it is provided. Purnpay and DGIPL shall use all reasonable endeavours to ensure that its employees, directors, agents and contractors acknowledge and comply with the provisions of these Terms of confidentiality as if such person was subject to these Terms of confidentiality.

21. CONTENT AND INTELLECTUAL PROPERTY RIGHTS

    21.1. DGIPL solely and exclusively owns respective copyrights, trademarks, service marks, logos, trade names, and other intellectual and proprietary rights associated with the Services provided by DGIPL and displayed on/accessed on the Platform and is protected under Indian law.

    21.2. You hereby acknowledge that the Services constitute original works and have been developed, compiled, prepared, revised, selected, and arranged by DGIPL respectively through the application of methods and standards of judgment developed and applied through the expenditure of substantial time, effort, and money and constitutes valuable intellectual property of DGIPL and such others. You thereby agree to protect the proprietary rights of DGIPL during and after the term of these Terms. You may not selectively download portions of the Platform without retaining the copyright notices. You may download material from the Platform only for the purpose intended by these Terms.

    21.3. Any infringement shall lead to appropriate legal proceedings against You at appropriate forum for seeking all available remedies under applicable laws of the country

22. LINKS TO/FROM THIRD-PARTIES' WEBSITES/APPLICATIONS

    The Platform may contain links and interactive functionality interacting with the websites of third parties. Purnpay or DGIPL is not responsible for and has no liability for the functionality, actions, inactions, privacy settings, privacy policies, terms, or content of any such website. Before enabling any sharing functions to communicate with any such website or otherwise visiting any such website, DGIPL strongly recommends that You review and understand the terms and conditions, privacy policies, settings, and information-sharing functions of each such third-party website.

23. INDEMNIFICATION

    You hereby agree to indemnify and keep Purnpay and DGIPL indemnified from and against all actions, claims, demands, proceedings, losses, damages, costs, charges and expenses, directly or indirectly, whatsoever (“Losses”) which Purnpay and/or DGIPL and/or its employees, agents, workers or representative may at any time incur, sustain, suffer or be put to as a consequence of or by reason of or arising out of: (i) the usage of the Platform and/or any device used by the Customer to access the Platform; (ii) by reason of Purnpay and/or DGIPL acting in good faith and taking or refusing to take or omitting to take action on the Customer's instructions, and in particular arising directly or indirectly out of the negligence, mistake or misconduct of the Customer; (iii) breach or non-compliance of the Terms and relating to the Gold Account; and/or (iv) fraud or dishonesty relating to any transaction by the Customer.

24. DISCLAIMER OF WARRANTIES

    24.1. ALL INFORMATION, CONTENT, MATERIALS AND SERVICES INCLUDED ON OR OTHERWISE MADE AVAILABLE TO YOU THROUGH THE PLATFORM (COLLECTIVELY, THE "CONTENTS") ARE PROVIDED BY DGIPL AND Purnpay ON AN "AS IS," "AS AVAILABLE" BASIS, WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND. DGIPL AND/OR Purnpay MAKES NO REPRESENTATIONS OR WARRANTIES OF ANY KIND, EXPRESS OR IMPLIED, AS TO THE OPERATION OF THE PLATFORM, THE ACCURACY OR COMPLETENESS OF THE CONTENTS AND THE ACCURACY OF THE INFORMATION. DGIPL AND/OR Purnpay SHALL HAVE NO RESPONSIBILITY FOR ANY DAMAGE TO YOUR COMPUTER SYSTEM OR LOSS OF DATA THAT RESULTS FROM THE DOWNLOAD OF ANY CONTENT, MATERIALS, DOCUMENT OR INFORMATION OR ANY OTHER LOSSES INCURRED BY YOU FOR USE OF THE PLATFORM. YOU EXPRESSLY AGREE THAT THE USE OF THE PLATFORM IS AT YOUR SOLE RISK. DGIPL AND/OR Purnpay WILL NOT BE LIABLE FOR ANY DAMAGES OF ANY KIND ARISING FROM THE USE OF THE PLATFORM OR THE SERVICES OR THE CONTENTS INCLUDING, WITHOUT LIMITATION, DIRECT, INDIRECT, CONSEQUENTIAL, PUNITIVE, AND CONSEQUENTIAL DAMAGES, UNLESS OTHERWISE SPECIFIED IN WRITING. TO THE FULL EXTENT PERMITTED BY LAW, DGIPL AND/OR Purnpay DISCLAIMS ANY AND ALL REPRESENTATIONS AND WARRANTIES WITH RESPECT TO THE PLATFORM (OR ANY PART THEREOF) AND ITS CONTENTS, WHETHER EXPRESS OR IMPLIED, INCLUDING, WITHOUT LIMITATION, WARRANTIES OF TITLE, MERCHANTABILITY, AND FITNESS FOR A PARTICULAR PURPOSE OR USE.

25. LIMITATION OF LIABILITY

    You hereby acknowledge that DGIPL and/or Purnpay (including but not limited to its, directors, employees, agents or partners) shall not be held liable to You for any special, consequential, incidental, and exemplary or punitive damages, or loss of profit or revenues. DGIPL and/or Purnpay shall also not be liable under any circumstances for damages arising out or related in any way to Your inability to access, or Your difficulty in accessing the Platform to avail of any Services, any bugs, viruses, trojan horses, or the like, which may be transmitted to or through the Platform by any third party, any loss of Your data, any claim relating to Your data or content from the Services and/or Your failure to keep the Gold Account Information secure and confidential. You further agree that DGIPL shall not be held responsible in any manner whatsoever for any and all acts or omissions of Purnpay, any Intermediaries or any other third party whosoever including (but not limited to) any person whose device has been used by You to access the Platform and/or any person appointed/nominated by Purnpay for the purposes of accepting/collecting any payments from You for the purchase of Gold. Likewise, Purnpay shall not be held responsible in any manner whatsoever for any and all acts of any third party, DGIPL or other Intermediaries.

26. GRIEVANCE REDRESSAL MECHANISM

    26.1. In accordance with the Information Technology Act, 2000 and Rules made thereunder:

    26.1.1. the contact details of Grievance Officer for the purposes of Purnpay are:

    Name: Mr. Mandeep Sokhanda

    E-mail ID: care@Purnpay.com

    26.1.2. the contact details of Grievance Officer for the purposes of DGIPL are:

    Name: Rukhsar Khan

    E-mail ID: care@safegold.in

    Address: 1902B Peninsula Business Park, G.K. Marg, Lower Parel, Mumbai 400013

27. AMENDMENTS, ACCEPTANCE OF TERMS

    27.1. DGIPL reserve the right, to change, modify, add or remove portions of these Terms at any time. Such changes shall be posted on the Platform and shall be notified to the Customer prior to making such changes. Notwithstanding anything to the contrary, Customer shall be responsible for regularly reviewing the Terms, including amendments thereto as may be posted on the Platform and shall be deemed to have accepted the amended Terms by continuing the use of Platform.

    27.2. Accessing, browsing or otherwise using the Platform indicates Your agreement to all the terms and conditions under these Terms. You are advised to read these Terms carefully before proceeding. By impliedly or expressly accepting these Terms, You also accept and agree to be bound by all policies, including but not limited to the privacy policy of Purnpay and DGIPL (“Privacy Policy”), as amended from time to time. You can view and read the Privacy Policy of Purnpay at the Platform and the Privacy Policy of DGIPL at www.safegold.com.

    Lorem ipsum dolor sit amet, consectetur adipisicing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

    27.3. You may not use the Platform or avail of the Services if You do not accept the Terms or are unable to be bound by the Terms. As a condition of Your access to and use of the Platform or the provision of any Services to You using the Platform, You agree that You will comply with all applicable laws and regulations when using the Platform. If DGIPL is of the opinion that the Gold Account is being used by You for any unlawful purpose, DGIPL shall have the right to take all actions available to it, including black-listing or blocking You from using the Services through the Platform or intimating the relevant authorities of such unlawful activities.

I understand that the term insurance is offered by Max Life Insurance Company Limited and not by Purnpay.

Nothing contained herein shall constitute and /or deem to constitute an offer and/or an invitation to an offer or a legally binding obligation on Purnpay nor shall it confer any rights, remedies, obligations or liabilities to me or provide any remedy, claim, liability, reimbursement, cause of action against Purnpay.

I authorize Purnpay to share the above-mentioned information provided by me with Max Life Insurance Company Limited (“Max Life Insurance”). Further, I authorize Max Life Insurance and its representatives to call me and/or send me messages with reference to the term insurance services offered by Max Life Insurance. This consent will override any registration for DNC / NDNC.

I understand that submission of the above mentioned information will not amount to an application or pre-qualification or eligibility for sanction of loan. Nothing contained herein shall constitute and /or deem to constitute an offer and/or an invitation to an offer or a legally binding obligation on Purnpay nor shall it confer any rights, remedies, obligations or liabilities to me or provide any remedy, claim, liability, reimbursement, cause of action against Purnpay.

I authorize Purnpay to share the above-mentioned information provided by me with Axis Bank Limited ("Axis Bank"). Further, I authorize Axis Bank and its representatives to call me and/or send me messages with reference to the loan against Two Wheeler Loans offered by Axis Bank. This consent will override any registration for DNC / NDNC.

Last Updated on 21st July, 2023

I understand that under the facility offered, I shall be able to avail Pay Later product, this decision is at the discretion of Axis bank. Pay Later is the product available to certain customers to make deferred payments or payments in Equated monthly instalments (“EMI”) on the purchase of products /services available on selected partners. If a customer chooses to pay using Pay Later under Personal loans category, the customer will transact with Axis Bank.

TERMS AND CONDITIONS FOR PAY LATER PRODUCT

1). I understand this is a facility product offered by Axis Bank for financing purchase of products/services on the platforms, under which I would make deferred payments on any product/services purchased on the platforms at a later date along with interest and any other charges as applicable, in the manner and within the time frame prescribed by Axis Bank.

2). Prior to providing the Facility, Axis Bank may (in its discretion) conduct credit approval checks for the borrower.

3). With Pay Later product, you can shop without paying at the time of purchase from platforms and pay the bill at once on the due date mentioned in key fact sheet

4). Provision of the Facility is at the discretion of Axis Bank, and Axis Bank reserves the right to reject (exercisable in its discretion) the Facility to a customer, with or without any notice or reason and without any liability. Issuance, approval, extension, pre-closure or closure of the Facility and such matters are solely determined by Axis bank.

5). I declare that all the particulars and information and details given / filled, and information provided by me to Axis Bank are true, correct, and accurate and I have not withheld / suppressed any material and relevant information from Axis Bank

6). I agree that Axis Bank may receive and update credit reports from any/all credit bureaus or any other agency/ regulatory authority as required and as permitted under applicable law.

7). I understand that the facility will be reported to Bureau as a single facility under Personal loans category irrespective of multiple disbursals or creation of facility accounts. Overall sanction amount will be reported in bureau.

8). I hereby understand the below terms of the facility: Axis Bank, at the request of the Borrower, agrees to lend to the Borrower, and the Borrower agrees to borrow from Axis Bank, a facility amount (hereinafter referred to as the “Facility Amount") for a period described in the key fact sheet (“Term”), on the basis of, and subject to the conditions, terms, and covenants herein set forth.

9). “Overall sanction amount” shall mean what the borrower got approved for and Axis Bank can offer to the borrower in the defined period. Borrower can utilise this amount at Pay Later utilisation at partners/Axis platforms. At partner end, Borrower will be able to utilise the amount at platforms linked with partner. Available amount will keep reducing based on utilisation.

10). Pay Later Facility account will be created with the “sanctioned amount” equal to the monthly pay-out for the borrower as decided by Axis Bank. Monthly pay-out or monthly capped limit is the capped amount customer may avail at partner or merchant locations wherever applicable for the month till the repayment date. This may change month on month as per bank’s decision and Pay Later facility sanctioned amount will vary based on utilisation and monthly pay-out or monthly capped limit

11). I understand that the monthly pay-out or monthly capped amount in Pay Later facility will be reset for next cycle and the amount may increase or decrease based on Axis Bank Policy

12). I agree and understand that products /services availed using such facilities under Pay Later are provided by the platforms and Axis bank shall not be responsible with regards to any deficiency in product/services

13). I understand that Axis Bank will have the right to review customer profile at regular intervals and revise monthly pay-out for Pay Later / overall sanction amount/ any sanctioned amount for any facility or revoke such amounts extended to me at any time at their sole discretion

14). I understand that I shall be responsible to contact the Platform for any deficiency in service on the part of the Platform or any defective product or deficient service delivered to the Borrower

15). I understand that Axis Bank will not discriminate the customers on grounds of sex, caste and religion in the matter of any credit appraisal, solicitation and sanctioning of facilities. I also declare that I will inform Axis Bank in case I belong to any Minority section or religion.

TERMS OF DISBURSEMENT

The Borrower has agreed that the Facility Amount shall be disbursed in the following manner:

1). “Facility Account” shall mean the account of the Borrower for the purpose of repayment of the Loan Facility.

2). “Disbursement Date” shall mean the date on which the Facility is disbursed to Platform, on satisfaction of all the representations, warranties, and covenants of the Borrower by Axis Bank. There may be multiple tranche disbursals in the facility account which shall mean that borrower has availed the loan facility at multiple times

3). “Loan Facility” The amount of loan availed by the Borrower and disbursed by Axis Bank on the request of the Borrower or in accordance with the drawdown schedule agreed between the Borrower and Axis bank

4). “Outstanding Amount” shall mean the amount which is to be paid to Axis Bank less any part of / instalment(s) towards the Facility Amount already paid to Axis bank

5). “Platform” means the entity facilitating payment for online purchase and sale of services / goods and/or is processing the payments for such online transactions.

6). “Repayment Date” means the date stipulated for the borrower to repay the principal facility amount along with applicable interest to Axis Bank

7). “Due Amount” shall mean the repayment amount to be paid by the Borrower to keep the Loan Facility in good standing

8). I understand that the facilities Pay Later would be available only with respect to select products or services sold on the platforms

9). I understand that Purnpay wallet would be the default payment mode for any platform, unless Purnpay Pay Later is selected by me as the preferred payment mode.

10). I understand that the preferred payment option between Purnpay wallet and Purnpay Pay Later can be selected by navigating to the Pay Later Dashboard as provided in the App & Website.

11). I understand that the preferred payment mode or the default payment mode will be applicable for both transactions within Purnpay App and all/any other merchant transactions

12). Refunds from merchants for payments done through Purnpay Pay Later if processed.

i) Before due date – will be adjusted in the Pay Later bill amount

ii) After due date – will be credited in the user’s Purnpay wallet as cashback

CANCELLATION

1). In the event the Borrower proposes to cancel the Loan Facility or any drawdown thereto, the Borrower must intimate the Platform and thereafter Axis bank shall cancel the Loan Facility once the Platform notifies Axis bank of such cancellation.

2). I understand that the Bank shall have unconditional right to cancel the undrawn/ unavailed/ unused portion of the Facility at any time during the subsistence of the Facility, without any prior notice to the Borrower, for any reason whatsoever. In the event of any such cancellation, all the provisions of this sanction shall continue to be effective and valid and the Borrower shall repay the Facility in accordance with the terms of this sanction.

INTEREST

1). The Borrower shall pay interest (“Interest”) on the utilised Amount at the rate mentioned in the application process. “Annual percentage rate” is a method to compute annualised credit cost, which includes interest rate and loan origination charges.

2). In case the repayment of the Facility Amount is not completed in accordance with the terms agreed between the Borrower and Axis bank, Axis Bank will be entitled to receive Additional Interest (defined below) for each such day of default.

3). For the purpose of this Agreement, “Month” shall mean and refer to each of the twelve (12) named periods into which a calendar year is divided, each such period comprising thirty (30) days and “Year” shall mean and refer to the continuous period of 360 days.

REPAYMENT

1). The Borrower acknowledges and agrees that the Borrower shall make payment of the Due Amount on 5th of upcoming month as agreed with Axis bank. The due date of the product is subject to change and may be updated at the sole discretion of Axis bank

2). Bill will be generated on 5th of every month and customer will have to repay the amount on the same date failing which the account will be marked as overdues and borrower agrees that penal interest will be applicable from the date of non-payment of dues. Bill generation date is subject to change and may be updated at the sole discretion of Axis bank

3). Borrower can repay the due amount for facility products using a Debit card, Net Banking, UPI, Auto debit setup or any other permissible payment method as may be notified by Axis bank. Utilisation of credit card for payment of dues or paying bills is not allowed.

4). I agree and acknowledge that cash payment in part of full shall not be accepted as a payment method for repayment of outstanding amounts due under facility products.

5). Borrower undertakes to make payment of outstanding amounts due to Axis bank within agreed timelines. Borrower understands and agrees that if he/she fails to pay the outstanding amounts due under relevant facility products to Axis bank on or before the due date, Axis bank shall have the right to suspect or block any future purchases on the platforms and levy a late payment penalty and bounce charges on him/her as mentioned in key fact sheet.

Last Updated on 22nd April, 2021

1. Our Relationship with You: Through Our Checkout Services, We facilitate You in making payments to merchants/sellers registered with Purnpay (“Merchants”), with respect to goods and services You purchase from such Merchants, or to Purnpay’s registered billers (“Billers”) with respect to any dues or prepaid services, using Your debit card, credit card, internet banking, UPI (If You register for UPI services, You agree and accept to be bound by the Terms of Use of Purnpay UPI) and any other acceptable modes of payment mechanism provided by Us. You understand that these transactions conducted are between the Merchants/Billers and You and that Purnpay only acts as an intermediary for these transactions. As an intermediary, We facilitate the collection of payments from You and onward settlement of such payments to the respective Merchant/Biller. We are not involved in the clearing or payment of the transaction. In order to serve in this role, We have entered into agreements with various nodal banks, payment system providers, as defined under the Payment and Settlement Systems Act, 2007, card associations, payment service providers and other payment and technology service providers (collectively “Payment Processors”), to enable use of internet payment gateways developed by/for them in order for them to effect payments between You and the Merchants/Billers and provide clearing, payment and settlement services with respect to Your transaction. It is to be clarified that the payment instructions are authenticated, authorized, and processed by the card associations and Your issuing bank through the payment system provider’s payment gateway and We do not have any role in the same. You understand and acknowledge that Our role is limited to facilitating Your payment instructions and providing other values added services.
   
   As a part of the Checkout Service offering, We also facilitate distribution and marketing of prepaid payment instruments by the name of Purnpay wallet and Purnpay gift instrument (“Purnpay Balance”). Purnpay Balance is issued by Axis Bank Limited (“Partner Bank”) and marketed and distributed by Purnpay on the Platform. Purnpay Balance may only be used to make payments for goods and services purchased from Merchants/Billers or for such other purposes as may be permitted by Purnpay or the Partner Bank from time to time. If You register for and/or are issued Purnpay Balance, You agree and accept to be bound by the Terms and Conditions for Purnpay Balance account issued by Axis Bank Limited.
2. Rights You Grant to Us:By submitting Your information or data (including any financial information or data), passwords, usernames, other log-in information, materials, and other content (“User Information”) to Us, You are granting Us the right to use such User Information for the purpose of providing the Checkout Services. We may use and store such User Information in accordance with these Checkout Terms, the Terms of Use and Our Privacy Policy, without any obligation to pay You any fee or charges and without being subject to any restrictions or limitations. By using the Checkout Services, You expressly authorize Purnpay to access Your User Information and submit it to Payment Processors and such other third Parties as may be required for processing Your payment request.
3. Your Obligations Towards Payment System Providers and Card Associations: As You will be using the services of Payment Processors including payment system providers and card associations to process Your payment instructions, You consent and agree to comply with the rules, guidelines, directions, instructions, requests, etc. (“Guidelines”) made by the Payment Processors from time to time. Notwithstanding Our assistance in understanding such Guidelines, You expressly acknowledge and agree that You are assuming the risk of compliance with all applicable Guidelines. You further acknowledge that the Payment Processors and Your issuing Bank may also place limitations and restrictions with respect to Your accounts (card, banking, or others), at their sole discretion. You are responsible for keeping Yourself up-to-date with all such Guidelines and ensure compliance. In addition, You understand and acknowledge that Payment Processors have the right to reject payments made by You for any reason whatsoever. If You fail to comply with Your obligations towards the Payment Processors, We may suspend or terminate Your Purnpay Account.
4. Rejection of Authentication and Authorization:
   1. You understand that the Payment Processors and/or the issuer (for the card or bank account or other payment instrument as the case may be) may reject authentication and/or authorization of transaction initiated by You for any reason including but not limited to insufficient funds, incorrect authentication details provided, expired card/bank account, risk management, suspicion of fraudulent, illegal or doubtful transactions, sale/purchase of banned items, use of compromised cards or bank account numbers, use of banned/blacklisted cards or bank account numbers, use of suspicious API or in accordance with the Guidelines or rules, guidelines, regulations, etc. issued by the Reserve Bank of India (“RBI”) and/or any other laws, rules, regulations, guidelines in force in India.
   2. You further acknowledge that as a security measure We and/or the Payment Processors may at Our respective sole discretion, permanently or temporarily, block any card number, account numbers, group of cards or transactions from any specific blocked or blacklisted cards /, accounts, specific, group of IP addresses, devices, geographic locations and / or take any such risk mitigation measures as We may believe necessary for security of Our Users and business.
   3. As a risk management tool, We and/or the Payment Processors reserve the right to limit or restrict transaction size, amount and/or monthly volume at any time. We consider a variety of factors in making such a decision and such determination will be at Our sole discretion.
5. Transaction Confirmation and Account History
   1. When Your payment instructions are successfully processed with respect to a transaction, We will update Your Purnpay Account activity and provide You with a transaction confirmation. This confirmation will serve as receipt of the transaction. You understand and acknowledge that We will only release the transaction confirmation upon receiving confirmation (Your bank account or debit or credit card or Purnpay Balance being debited or charged) from the Payment Processors ("Transaction Confirmation"). We will not be responsible for any transactions that have not been confirmed to Us by the Payment System Providers.
   2. The summary of Your transaction history is available on Your Purnpay Account dashboard. Except as required by law, You are solely responsible for:

      i. compiling and retaining permanent records of all transactions and other data; and

      ii. reconciling all transaction information that is associated with Your Purnpay Account. If You believe that there is an error or unauthorized Transaction activity that is associated with Your Purnpay Account, You agree to contact Us at care@Purnpay.in immediately not later than 5 (five) days.

6. Risk Monitoring; Unusual or Suspicious Transactions: In an effort to manage Our risk, We may monitor Your transactions and processing activity for high-risk practices or for fraudulent transactions. We may also engage third-party service providers to assist in these efforts and other elements of the service. If We believe there is suspicious or unusual activity, We may temporarily or permanently suspend Your access to the Platform and/or Services including the Checkout Service. Suspicious or unusual activity includes but is not limited to changes in Your average transaction amount or processing pattern or use of different payment accounts.
7. Security Procedures:
   1. Unauthorized access to Your financial information: To help prevent unauthorized access to Your personal financial information, You agree to:

      i. maintain the security of Your account by not sharing Your password with others and restricting access to Your account on Your computer or mobile or other device;

      ii. ensure that You logout from Your Purnpay Account each and every time You use it;

      iii. ensure that You have a lock such as a pattern lock, password protection, etc. on Your device and not leave Your computer or mobile or other device unattended or unlocked; and

      iv. take responsibility for all activities that occur under Your Purnpay Account and accept all risks of unauthorized access. If You believe Your password or devices has been lost or stolen, or if You suspect any fraudulent activity, please report this to Us immediately at care@Purnpay.com.

   2. You are solely responsible for any unauthorized access to Your personal or financial information that result from Your failure to properly follow the security procedure detailed in these Checkout Terms. Purnpay will not be liable for any loss, damage or other liability arising from Your failure to comply with these Checkout Terms herein or from any unauthorized access to or use of Your Purnpay Account. We will also have no liability and You agree to assume all risk of loss that arises out of or relates to any loss or theft of Your device or any information contained within any device.
   3. Risks: The use of a device such as mobiles, tablets and laptops involves risk as also does the usage of internet. For example, sensitive personal information or financial data that is transmitted from or to a device or internet may be intercepted and used by third parties without Your knowledge. Viruses, spyware and other “malicious code” can also be downloaded to Your devices without Your knowledge. By using a device and internet to access the sites, You assume all of those risks and agree that We will have no liability whatsoever to You for any loss or theft (including identity theft) occurring as a result of such risks.
   4. PCI DSS and ISO 27001:2013 Certification: We provide Payment Card Industry (PCI) Data Security Standard (DSS) and ISO 27001:2013 certified services. We have implemented technical and organizational measures designed to secure Your personal information from accidental loss and from unauthorized access, use, alteration, or disclosure. However, We cannot guarantee that unauthorized third parties will never be able to defeat those measures or use Your personal information for improper purposes. You acknowledge that You provide Your personal information at Your own risk.
   5. Encryption: Data transferred via the sites is encrypted in an effort to provide transmission security. Notwithstanding Our efforts to ensure that the sites are secure, You acknowledge that mobile transmissions and the Internet are inherently insecure and that all data transfers, occur openly and potentially can be monitored and read by others. We cannot and do not warrant that all data transfers utilizing Our sites will not be monitored or read by others.
   6. Additional Security Procedures: We may from time to time use reasonable additional or alternative procedures to ensure the security and confidentiality of Your payment transactions through Our sites. At all times You agree to comply with all security procedures We may impose in connection with Your use of the Platform. You agree that all security procedures We use are commercially reasonable, and to the extent allowed by law, You assume all risk of loss for unauthorized transactions where We have followed Our then-current security procedures
   7. Duty of Reasonable Care: We will exercise good faith and reasonable care in processing Your transactions in accordance with these Checkout Terms. You will similarly exercise good faith and reasonable care in:

      i.using the Platform;

      ii. observing and maintaining security procedures;

      iii. communicating with Us; and

      iv. in reviewing Your transaction records for any errors or discrepancies

   8. Dropped calls, lost signals: If the internet connection to Your device is interrupted or disconnected at any time before signing off, You must confirm that Your payment requests have been received by Us. We are not responsible for disconnections or interruptions in service or for failing to complete any payment request that We have not received as a result of any disconnection or interruption of the internet connection on Your device.
   9. Compatibility: The protocol that We use may be different from that used by Your device or internet carrier. We make no representations or warranties that Your device or any carrier will be compatible with Our system requirements or otherwise allow You to make payment requests using the Platform.
8. Disclaimer Regarding Sellers/Merchant, Their Products and Related Third Parties
   1. All obligations with respect to the delivery of goods and services and/or acknowledgement of payment will be solely that of the Merchant/Biller and not of Purnpay. Notwithstanding the dispute resolution assistance provided by Purnpay, all disputes regarding quality, merchantability, non-delivery, and delay in delivery or otherwise will be directly between You and the Merchant/Biller without making Us and/or the Payment System Providers, a party to such disputes.
   2. We make no representations or guarantees regarding Merchants/Billers utilizing Our services. Use of Our services in no way represents any endorsement by Us of a Merchants/Billers existence, legitimacy/legality, ability, policies, practices, beliefs as well as the Merchants/Billers goods and services or reliability. The Merchant alone will be responsible to You and We will not have any responsibility or liability towards You in this respect.
   3. The relationship between Us and the Merchants/Billers is on principal-to-principal basis. We have no connection or interest of whatsoever nature in the business of the Merchants/Billers or the goods/services offered / marketed by the Merchant/Biller. We do not in any manner take part in their business, directly or indirectly and are nowhere concerned or connected to the revenue of the Merchants/Billers. We will only provide payment aggregator services to the Merchant/Buyer in Our capacity as an intermediary. For the use of Our services, the seller/Merchant pays Us Fees as posted on Our website and We nowhere connected or concerned about the revenues of the Seller/Merchant or the Payment System Providers.
   4. Further it is not Our responsibility to monitor in any manner the use of the payment mechanisms by You for purchasing goods and services from the Merchant or aiming Your bill payment to the Billers. You are using the payment mechanisms at Your sole option and risks.

The Financial Strength (FIST) Score analysis is based on certain assumptions around user input data and does not take into account individual needs/circumstances. It's for reference only and is not a substitute for professional advice. Purnpay shall not be liable for any errors or omissions in or any reliance placed upon the analysis or for consequences of any action taken as a result of the analysis.

This End User Agreement (the “Agreement”) is made between you (the “User” or “You”) and Purnpay PAYMENT TECHNOLOGIES PVT LTD, a private limited company having its registered office at 11^th Floor, Tower C, DLF Cyber Greens, DLF Cyber City, DLF Phase 3, Gurugram, Haryana 122022 (“CLIENT”, “Us” or “We”, which term shall include its successors and permitted assigns). The User and Purnpay PAYMENT TECHNOLOGIES PVT LTD shall be collectively referred to as the “Parties” and individually as a “Party”.

You hereby consent to Purnpay being appointed as your authorized representative to receive your Credit Information from Experian for the purpose of evaluating credit history and display pre-approved credit offers (“End Use Purpose”), on month on month basis for a period, not more than six (6) months

BY EXECUTING THIS AGREEMENT / CONSENT FORM, YOU ARE EXPRESSLY AGREEING TO ACCESS THE EXPERIAN CREDIT INFORMATION REPORT AND CREDIT SCORE, AGGREGATE SCORES, INFERENCES, REFERENCES AND DETAILS (AS DEFINED BELOW)(TOGETHER REFERRED AS “CREDIT INFORMATION”).YOU HEREBY ALSO CONSENT TO SUCH CREDIT INFORMATION BEING PROVIDED BY EXPERIAN TO YOU AND Purnpay PAYMENT TECHNOLOGIES PVT LTD BY USING EXPERIAN TOOLS, ALGORITHMS AND DEVICES AND YOU HEREBY AGREE, ACKNOWLEDGE AND ACCEPT THE TERMS AND CONDITIONS SET FORTH HEREIN.

Terms and Conditions:

Information Collection, Use, Confidentiality, No-Disclosure and Data Purging

Purnpay PAYMENT TECHNOLOGIES PVT LTD shall access your Credit Information as your authorized representative and Purnpay PAYMENT TECHNOLOGIES PVT LTD shall use the Credit Information for limited End Use Purpose consisting of and in relation to the services proposed to be availed by you from Purnpay PAYMENT TECHNOLOGIES PVT LTD. We shall not aggregate, retain, store, copy, reproduce, republish, upload, post, transmit, sell or rent the Credit Information to any other person and the same cannot be copied or reproduced other than as agreed herein and in furtherance to CICRA.

The Parties agree to protect and keep confidential the Credit Information both online and offline.

The Credit Information shared by you or received on by us on your behalf shall be destroyed, purged, erased promptly of upon the completion of the transaction/ End Use Purpose for which the Credit Information report was procured for up to a maximum of 6 months.

Governing Law and Jurisdiction

The relationship between you and Purnpay PAYMENT TECHNOLOGIES PVT LTD shall be governed by laws of India and all claims or disputes arising there from shall be subject to the exclusive jurisdiction of the courts of Mumbai.

Definitions:

Capitalized terms used herein but not defined above shall have the following meanings:

“Business Day” means a day (other than a public holiday) on which banks are open for general business in Mumbai.

“Credit Information Report” means the credit information / scores/ aggregates / variables / inferences or reports which shall be generated by Experian;

“Credit Score” means the score which shall be mentioned on the Credit Information Report which shall be computed by Experian.

“CICRA” shall mean the Credit Information Companies (Regulation) Act, 2005 read with the Credit Information Companies Rules, 2006 and the Credit Information Companies Regulations, 2006, and shall include any other rules and regulations prescribed thereunder.

PLEASE READ THE ABOVE MENTIONED TERMS AND CONDITIONS AND CLICK ON “ACCEPT” FOLLOWED BY THE LINK BELOW TO COMPLETE THE AUTHORISATION PROCESS/ FOR SHARING OF YOUR CREDIT INFORMATION BY EXPERIAN WITH Purnpay PAYMENT TECHNOLOGIES PVT LTD IN ITS CAPACITY AS YOUR AUTHORISED REPRESENTATIVE.

BY CLICKING “ACCEPT” YOU AGREE AND ACCEPT THE DISCLAIMERS AND TERMS AND CONDITIONS SET OUT HEREIN.

** This document is an electronic record in terms of the Information Technology Act, 2000 and Rules made thereunder, and the amended provisions pertaining to electronic records.

I hereby expressly consent to and authorize the Bank (whether acting by itself or through any of its service providers, and whether in automated manner or otherwise), to collect, store and process my application details, personal data and sensitive information about me, information, papers and data relating to know your customer (KYC), credit information, and any other information about me/pertaining to me or not as may be deemed relevant by the Bank (collectively, “Information”).

I have read and hereby fully accept the of Axis Bank ("Bank"). I expressly consent Bank to share and disclose the Information to Purnpay Payments Technologies Pvt Ltd, service providers, consultants, credit information companies, information utilities, other banks and financial institutions, affiliates, group companies, subsidiaries, regulators, investigating agencies, judicial, quasi-judicial and statutory authorities, or to other persons/institutions/entities as may be necessary in connection with the contractual or legal requirements or in the legitimate interests of the Bank or as per the consent, undertake to process information including by way of storing, structuring, organizing, reproducing, copying, using, profiling, etc. as may be deemed fit by the Bank and for the purposes of credit appraisal, fraud detection, anti-money laundering obligations, for entering into contract, for direct marketing, for cross selling, for developing credit scoring models and business strategies, for monitoring, for evaluating and improving the quality of services and products, or for any purposes as the Bank may deem fit. I expressly agree to the Bank, its service providers, agents and/or its affiliates and Purnpay Payments Technologies Pvt Ltd, for using the Information and for marketing, promotion and cross-selling to me their various products and services of the Bank from time to time via telephone, SMS and/or email.

I expressly consent to and authorise Axis Bank to provide an overlimit transaction facility on my card as per Axis Bank internal policies and other terms and conditions.

I hereby give my consent to Axis Bank to increase my credit limit once within 6 months of card issuance.
I am interested in the Card Protection Plan (CPP) & hereby provide consent to Axis Bank and/or CPP Assistance Service Pvt. Ltd. and/or their representatives to contact me for the same.
I have read the above terms and conditions and accept the same and I am not a senior officer or relative of a director/senior officer of Axis Bank and I am not a director(trustee) or relative of a director(trustee) of any other bank/subsidiary of any bank (mutual funds/venture capital funds set up by banks).

1. Purnpay Pay Advantage is a membership plan designed to offer savings on convenience fees for transactions related to rent and education fees paid via credit card. Detailed information and the option to subscribe are available on designated Purnpay platform sections.
2. Scope of Service: The subscription is applicable to all transactions under the 'Rent via Credit Card' and 'Education Fee via Credit Card' categories, including their respective subcategories, within the risk management parameters set by Purnpay.
3. Duration and Benefits: The subscription shall be valid for a three-month period from the date of purchase. Members are entitled to unlimited discounts on the convenience fee, subject to a cumulative cap of 20% off the fee (excluding GST). The membership includes Silver, Gold, and Platinum tiers, with escalating discounts starting at 5% for Silver members. Advancement to Gold (7% discount) and Platinum (10% discount) tiers is based on the number of transactions conducted within the subscription period. Members shall qualify for the Gold tier upon making 10 transactions during the 3 month period, and for the Platinum tier upon making 15 transactions during the 3 month period.
4. Terms of Membership:
   1. Purnpay shall initially make this service available to a select user base, with plans for broader access in the future.
   2. Discounts are automatically applied based on membership tier; no promotional codes are necessary.
   3. The service is currently restricted to transactions made with Visa and MasterCard credit cards.
   4. Membership extension shall mean that users retain their current tier, but membership renewal shall mean that the tier is reset to Silver.
   5. Memberships are fixed; they cannot be canceled, paused, or transferred.

Subscription renewals/extensions are not automated; users must manually renew or extend their subscription through the app.