Terms of Service (Terms & Conditions)

1.      DEFINITIONS

In these Terms of Service (Terms & Conditions), unless the context indicates otherwise, the following words and phrases shall have the meanings indicated against them:

o   The KADAMBA  refers KADAMBA MYMONEY LIMITED, a body corporate established by means of an Act of the Parliament and having its Registered Office at Opp : Taluka Panchayat, Sirsi – 581401 (which expression shall, unless it is repugnant to the subject or context thereof , include its successors and assigns).

o   KADAMBA MOBILE APP : This Mobile APP is accessible only for Kadamba members and its under development.

o   The Site means www.mymoneyltd.com .

o   Confidential Information refers to the information obtained by the customer through the KADAMBA  for availing various services through KADAMBA MOBILE APP

o   Personal Information refers to the information about the User obtained by the Kadamba in connection with the KADAMBA MOBILEAPP.

o   Account refers to the MEMBERS Savings and/or Current Account and/or Fixed Deposit or any other type of account so designated by Kadamba to be eligible account(s) for the operations through the use of KADAMBA MOBILE APP.

o   Accounts in the name of Minors. In case of accounts opened for and on behalf of minors, the KADAMBA MOBILE APP facility shall not be made available to the minor. The natural guardian of the minor shall be permitted to use KADAMBA MOBILE APP with only ‘Limited Transaction’ rights. The natural guardian shall undertake to give all instructions relating to the operation of the account and further undertake not to reveal the User ID and Password to the minor, which if done so, will be at the risk and consequences of the guardian and the Kadamba shall not be liable for any loss on that account in case the account is operated by the minor. In such an event the transaction will be deemed to have been undertaken by the guardian.

o    MEMBER :   Member means a person who has contributed towards the share capital of a co-operative before its registration and includes a person admitted to membership after such registration in accordance with the Act, rules

o   The Site means www.kadambasociety.com refers to Customer named in the Application Form and shall, where the context requires, include any authorized representative of the Customer. 

o   SMS Password refers to one time 6 digit pass code that would be sent to a customer’s mobile number registered on the Kadamba’s record. 

o   Instruction means any request or instruction that is received from the MEMBERS by the KADAMBA through KADAMBA MOBILE APP.

2.      APPLICABILITY OF TERMS

These Terms mentioned herein form the contract between the User using the KADAMBA MOBILE APP and the KADAMBA. By using KADAMBA MOBILE APP and accessing the service the User acknowledges and accepts these Terms of Service (Terms & Conditions). Any conditions relating to the accounts of customer other than these Terms will continue to apply except that in the event of any conflict between these Terms and the account conditions, these Terms will continue to prevail. The agreement shall remain valid until it is replaced by another agreement or terminated by either party or account is closed, whichever is earlier.

3.      KADAMBA MOBILE APP SERVICES

The USER would be allotted a User-id and a password (to be used at the time of login) by the KADAMBA in the first instance. The USER will be required to mandatorily change the User-Id and password assigned by the KADAMBA on accessing MOBILE APP Services for the first time. 

As a safety measure the USER shall change the password as frequently as possible, at least once in 90 days. In addition to User-id and Password the KADAMBA may, at its discretion, advise the USER to adopt any other means of authentication including but not limited to smart cards, One Time SMS Password and/or Digital certification issued by Kadamba licensed or approved Certifying Authorities or vendors.

The USER shall not attempt or permit others to attempt accessing the account information stored in the computers and computer networks of the KADAMBA through any means other than the Internet Banking Services. 

4.      USER-ID AND PASSWORD

The USER shall: 

o   Keep the User-id and password totally confidential and not reveal them to any third party.

o   Create a password of at least 8 characters long and shall consist of a mix of alphabets, numbers and special characters which must not relate to any readily accessible personal data such as the USER's name, address, date of birth, telephone number, vehicle number, driver license etc. or easily guessable combination of letters and / or numbers; 

o   Commit the User-id and password to memory and not record them in a written or electronic form; and

o   Not disclose/reveal his/her personal or confidential information to anyone over email/SMS/phone call even if its purportedly from KADAMBA. KADAMBA or any of it’s representatives will never send you emails/SMS or call you over phone to seek your personal information like Username, passwords, One Time SMS passwords etc.

In the event of forgetting of User-id and/or password or expiry/ disability of password(s) USER can request for change of the password by sending a written request to the KADAMBA. The selection of a new password and/ or the replacement of User-id shall not be construed as the commencement of a new contract. The User agrees and acknowledges that KADAMBA shall in no way be held responsible or liable if the User incurs any loss as a result of compromise of User-id and password by the User himself or User has failed to follow the MOBILE APP Service instructions as published by the KADAMBA on the site from time to time. User agrees to fully indemnify and hold harmless KADAMBA in respect of the same.

Locking of User ID

MOBILE APP  Password / User ID shall get locked after a number of incorrect attempts, up to such number (at present 3 failed attempts) as may be decided by the Kadamba from time to time. The same shall be available on the next day. In case of emergency, the User ID / password can be unlocked through the branch. 

Deactivation of User ID

The KADAMBA has the discretion to deactivate a User MOBILE APP ID, if the same has not been used for a period defined by the KADAMBA. Also the KADAMBA has the right to deactivate the KADAMBA MOBILE APP login of User due to unsatisfactory behaviour in the account. 

5.      CYBER CRIME

The Internet per se is susceptible to various cyber crimes like phishing, vishing (Voice phishing), SMSing (phishing through SMS), compromise of User’s system security etc., that could affect Payment Instructions / other instructions to the KADAMBA. Whilst the KADAMBA shall endeavour to protect the interest of the customers, there cannot be any guarantee from such cyber crimes and other actions that could affect Payment Instructions / other instructions to the KADAMBA including but not limited to delay or failure in processing the instructions. The User shall separately evaluate all such risks and the KADAMBA shall not be held responsible for the losses arising out of such cyber crimes. The User understand that doing a KADAMBA MOBILE APP transaction at a Cybercafe/shared computer terminal is risky and shall avoid using the services of a Cybercafe/shared computer terminal to do any MOBILE APP transactions.

6.      TECHNOLOGY RISKS

The site of the KADAMBA may require maintenance and during such time it may not be possible to process the request of the customers. This could result in delays and/or failure in the processing of instructions. The User understands that the KADAMBA disclaims all and any liability, whether direct or indirect, whether arising out of loss or otherwise arising out of any failure or inability by the KADAMBA to honour any customer instruction for whatsoever reason. 

7.      LIMITS

The User is aware that the KADAMBA may from time to time impose maximum and minimum limits including daily limits on transfer of funds that may be transferred or amount of the Demand Draft/ IOI (Inter Office Instruments) that can be issued by virtue of the payment instructions given hereunder. The User acknowledges that the same is to reduce the risks on him/her. For instance, the KADAMBA may impose transaction restrictions within particular periods or amount restrictions within a particular period or even each transaction limits. The User shall be bound by such limits imposed and shall strictly comply with them. Kadamba shall put an appropriate message on the relevant page or the website.

8.      CHARGES

The KADAMBA at its discretion from time to time may specify charges for usage of MOBILE APP Services and/or additional charges for selected services which is published on the Website of the KADAMBA (www.kadambasociety.com ) and any further changes in the charges/fees shall also be notified on the above sites. All out of pocket expenses where-ever applicable will be borne by the User. The User and the other account holder(s)( in case of joint accounts) hereby authorize(s) the KADAMBA to recover all charges related to MOBILE APP Services as determined by the Kadamba from time to time by debiting the User(s) account or any of joint account holder’(s) account(s). 

9.      RIGHT TO SET OFF AND LIEN

KADAMBA shall have the right of set off and lien, irrespective of any other lien or charge, present as well as future, on the account(s) held by User(s) or in any other account, whether in single name or joint names to the extent of all outstanding dues, whatsoever arising as a result of the Internet Banking services extended to and/or used by the User.

10.   FUNDS TRANSFER

The User shall not use or attempt to use MOBILE APP Services for funds transfer without sufficient funds in the relative Internet Banking Services account or without a pre-existing arrangement with the KADAMBA for the grant of an overdraft. The KADAMBA will endeavour to effect such funds transfer transactions received through MOBILE APP Services provided there are sufficient funds available in the User’s account. The KADAMBA shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond the control of the KADAMBA. In the event of overdraft created due to oversight/inadvertently, the User will be liable to pay the interest on such overdrawn amount, as decided by the KADAMBA from time to time.

11.   TRANSACTION PROCESSING TIME

o   Instantaneous Transactions

o   All the instructions for instantaneous transactions received before the cut off time of the specified transaction, will be given effect to instantaneously unless until some processing work or maintenance activity is being done or some unavoidable circumstances beyond the control of the Kadamba occur. E.g.: Fund Transfer, Third Party Fund Transfer, stop payment etc. 

o   Non-Instantaneous Transactions

o   In respect of Non-instantaneous transactions and transactions requiring manual intervention by the branch, the KADAMBA would endeavour to give effect to such transactions at the earliest: E.g.: Demand Draft Request etc. 

12.   AUTHORITY TO THE BANK

Banking transactions in the User’s account(s) are permitted through Internet, only after authentication of the User-id and password of the User. The User irrevocably and unconditionally authorizes the KADAMBA to access all his/her account(s) for effecting banking and other transactions performed by the User through the Internet Banking services. The instructions of the User shall be effected only when such information is in accordance with the prescribed procedure. The User grants express authority to the KADAMBA  for carrying out the banking transactions performed/requested by him/her through Internet Banking Services. The KADAMBA shall have no obligation to verify the authenticity of any transaction received from the User through Internet Banking Service or purported to have been sent by the User via Internet Banking Services, other than by means of verification of the User-id and the password. The display or printed output that is generated by the User at the time of operation of Internet Banking Services is a record of the operation of the Internet access and shall not be construed as the Kadamba’s record of the relative transactions. Kadamba’s own records of transactions maintained through computer systems or otherwise shall be accepted as conclusive and binding for all purposes. All transactions arising from the use of Internet Banking Services to operate a joint account, shall be binding on all the joint account holders , jointly and severally, notwithstanding that one amongst such joint account holders only operates the accounts through Internet Banking Services.

The KADAMBA may at any time without giving notice or reasons, suspend or terminate all or any of the Internet Banking services or their use by the User.

13.   ACCURACY OF INFORMATION

A customer shall provide such information as the KADAMBA may from time to time reasonably request for the purposes of providing the services. The User is responsible for the correctness of information supplied to Kadamba through the use of Internet Banking Services or through any other means such as electronic mail or written communication. Kadamba accepts no liability for the consequences arising out of erroneous/incomplete/incorrect information supplied by the User. If the User suspects that there is an error in the information supplied to Kadamba by him/her, he/she shall advise Kadamba at the earliest. Kadamba  will endeavour to correct the error wherever possible on a ‘best efforts’ basis. If the User notices an error in the account information supplied to him/her through Internet Banking Service, he shall advise the KADAMBA at the earliest. The KADAMBA  will endeavour to correct the error promptly and adjust any interest or charges arising out of the error. 

14.   LIABILITY OF THE USER

The User shall be liable for 

1.      Non-compliance of Terms of Service (Terms & Conditions) mentioned herein.

2.      If he/she has breached the Terms of Service (Terms & Conditions) or contributed or caused the loss by negligent actions such as the following:

§  In disclosing or failing to take all reasonable steps to prevent disclosure of the User-id and/or password to anyone including Kadamba staff and/or failing to advise Kadamba of such disclosure within a reasonable time.

§  Not advising Kadamba within a reasonable time about unauthorized access to or erroneous transactions in the account(s) through the Internet Banking Services. 

15.   LIABILITIES OF THE KADAMBA 

3.      The KADAMBA shall not be liable for any unauthorized transactions in the account(s) through the use of KADAMBA MOBILE APP Services which can be attributed to the fraudulent or negligent conduct of the User.

4.      The KADAMBA  shall not be liable to the account holder(s) for any damages whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on investment or any other loss of any character or nature whatsoever and whether sustained by the account holder(s) or any other person, if Internet Banking access is not available in the desired manner for reasons including but not limited to natural calamity, fire and other natural disasters, legal restraints ,faults in the telecommunication network or Internet or network failure ,software or hardware error or any other reasons beyond the control of the KADAMBA.

5.      The KADAMBA shall endeavour to take all possible steps to maintain secrecy and confidentiality of its customer account(s)/information but shall not be liable to the account holder(s) for any damages whatsoever caused on account of breach of secrecy/confidentiality due to reasons beyond the control of the KADAMBA.

6.      KADAMBA, for valid reasons, may refuse to execute any instructions placed by the User.

7.      The KADAMBA will in no way be held responsible or liable for delay, failure and/or untimely delivery of SMS password and/or SMS Alerts due to but not limited to network congestions, network failure, systems failure or any others reasons beyond the reasonable control of the KADAMBA or its service provider(s).

8.      Notwithstanding anything contained herein, where KADAMBA has reason to believe that any transaction or marking of liens, have been fraudulently made (hereinafter referred to as a “suspect transaction”), KADAMBA shall be entitled to withhold payment pertaining to such suspect transaction in accordance with regulatory laws relating to Money Laundering or otherwise. If Kadamba determines after due enquiry and investigation that the transaction is a valid transaction and not a suspect transaction, KADAMBA shall release such withheld payment subsequently.

16.   INDEMNITY

The User agrees to indemnify, hold harmless and defend Kadamba and its affiliates against any loss and damages that may be caused from or relating to

1. Breach of Terms of Service (Terms & Conditions) mentioned herein.

2.      Improper use of the Internet Banking services by the User/customer.

3.      Any claims made by third parties arising from issues related to any failure, delay or interruption of the products and/or services as provided by the Kadamba’s Internet Banking services.

4.      The use of products/ Internet Banking services in any manner which violates the Terms of Service (Terms & Conditions) or otherwise violates any law, rule, conditions or regulation.

17.   DISCLOSURE OF PERSONAL INFORMATION

The User agrees that the KADAMBA or its service providers may hold and process his/her Personal/Technical Information on Computer or otherwise in connection with Internet Banking Services as well as for statistical analysis. The User agrees that the KADAMBA may collect User system related information The User also agrees that Kadamba may disclose, in strict confidence, to other institutions, such Personal Information as may be reasonably necessary for reasons inclusive of. for fraud prevention purposes.

18.   AMENDMENTS

The KADAMBA has the absolute discretion to amend or supplement any of the Terms of Service (Terms & Conditions) at any time, without prior notice. However the KADAMBA will endeavour to notify the changes by posting it on the website or through advertisement or any other means as the KADAMBA may deem fit which will be binding on the User. The existence and availability of the new functionalities/facilities/features will be notified to the User as and when they are made available. By using these new services, the User agrees to be bound by the Terms of Service (Terms & Conditions) applicable there for.

19.   NON-TRANSFERABILITY

The grant of facility of KADAMBA MOBILE APP Services to a User is non-transferable under any circumstances and shall be used by the User only.

20.   PROPRIETARY RIGHTS

The USER acknowledges that the software underlying the MOBILE APP Services as well as other Internet related software which are required for accessing KADAMBA MOBILE APP  Services is the legal property of the KADAMBA/respective service providers. The permission given by the KADAMBA to access KADAMBA MOBILE APP Services will not convey any proprietary or ownership rights in the above software. The USER shall not attempt to modify, translate, disassemble, decompile or reverse engineer the software underlying KADAMBA MOBILE APP Services or create any derivative product based on the software.

21.   PROPRIETARY AND INTELLECTUAL PROPERTY RIGHTS

The copyright, trademarks, logos, slogans and service marks displayed on the website(s) are registered and unregistered intellectual property rights of KADAMBA or of respective intellectual property right owners. Nothing contained on the website(s) should be construed as granting, by implication, estoppels, or otherwise, any license or right to use any intellectual property displayed on the website(s) without the written permission of KADAMBA or such third party that may own the intellectual property displayed on the website(s). 

KADAMBA grants the right to access the website(s) to the User and use the MOBILE APP Services in accordance with the Terms of Service (Terms & Conditions) mentioned herein. The User acknowledges that the Services including, but not limited to, text, content, photographs, video, audio and/or graphics, are either the property of, or used with permission by, KADAMBA and/or by the content providers and may be protected by applicable copyrights, trademarks, service marks, international treaties and/or other proprietary rights and laws of India and other countries, and the applicable Terms of Service (Terms & Conditions).

The User should assume that everything he/she views or reads on the website (collectively referred to as "content") is copyrighted/ protected by intellectual property laws unless otherwise provided and may not be used, except as provided in these Terms of Service (Terms & Conditions), without the prior written permission of Kadamba or the relevant copyright owner. 

Any breach of the restrictions on use provided in these terms is expressly prohibited by law, and may result in severe civil and criminal penalties. KADAMBA shall be entitled to obtain equitable relief (including all damage, direct, indirect, consequential and exemplary) over and above all other remedies available to it, to protect its interests therein. 

22.   THIRD PARTY LINKS 

The Site may provide hyperlinks to websites not controlled by KADAMBA and such hyperlinks do not imply any endorsement, agreement on, or support of the content, products and /or services of such websites. KADAMBA doesn’t editorially control the content, products and /or services on such websites and shall not be liable, in any nature whatsoever, for the access to, or the inability to access to, or the use, inability to use or content available on or through such websites.

23.   TERMINATION OF MOBILE APP SERVICES

The User may request for termination of the MOBILE APP Services facility any time by giving a written notice. The User will remain responsible for transactions made on his/her account(s) prior to the time of such cancellation of the MOBILE APP Services.

The KADAMBA may at its sole discretion, at any time without giving notice or reasons suspend or terminate all or any of the MOBILE APP services offered by the KADAMBA or there use by the User including for reasons such as 

1.      Breach of these Terms of Service (Terms & Conditions) by the User

2.      Knowledge or information about the death, bankruptcy or legal incapacity of the User.

24.   NOTICES

Notices under these Terms of Service (Terms & Conditions) to the customer may be given through any medium of communication as may be deemed appropriate by the KADAMBA i.e. KADAMBA website (www.kadambasociety.com) or email, sms, public notification at Branches, or through newspapers, radio, TV etc. Such notices will have the same effect as a notice served individually to each customer.

25.   FORCE MAJEURE

Kadamba shall not be liable for delay in performing or failure to perform any of its obligations under these Terms of Service (Terms & Conditions) which is caused by circumstances beyond its reasonable control, including, but not limited to, the failure, malfunction or unavailability of telecommunications, data communications and computer systems and services, natural calamities, war, civil unrest, government action, strikes, lock-outs or other industrial action or trade disputes (whether involving the KADAMBA’s employees or those of a third party). Any delay or failure of this kind will not be deemed to be a breach of the Terms of Service (Terms & Conditions) and the time for performance of the affected obligation will be extended by a period which is reasonable in the circumstances.

26.   DISCLAIMER ON THE INFORMATION TECHNOLOGY ACT 2000

Kadamba has adopted the mode of authentication of the User by means of verification of the User ID and or through verification of password or through any other mode of verification as may be stipulated at the discretion of the KADAMBA. The User hereby agrees/consents for the mode of verification adopted by the KADAMBA. The User agrees that the transactions carried out or put through by the aforesaid mode shall be valid, binding and enforceable against the User and shall not be entitled to raise any dispute questioning the transactions.

27.   DISCLAIMER ON ANTI VIRUS UPDATE

The User needs to get his PCs/laptops scanned on a regular basis and be updated with the latest antivirus software available. The KADAMBA shall not be responsible in case of any data loss or theft due to the virus transmitted in the system through the usage of KADAMBA MOBILE APP.

28.   GOVERNING LAWS

These Terms of Service (Terms & Conditions) and/or operations in the accounts of the User maintained by the KADAMBA and/or the use of services provided through KADAMBA MOBILE APP Services are construed to be governed in accordance with the laws in India. KADAMBA 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 KADAMBA MOBILE APP Service can be accessed through Internet by a User from a country other than India shall not be interpreted to imply that the laws of the said countries govern these Terms of Service (Terms & Conditions) and/or the operations in the accounts of the User through Internet and/or the Use of MOBILE APP Services. The User agrees to abide by prevailing laws in respect of KADAMBA MOBILE APP Services applicable in India. It is the responsibility of the User to comply with any regulations prevailing in the country from where he/she is accessing the Internet.

All disputes shall be subject to the jurisdiction of the Courts in SIRSI – UTTARA KANNADA - 581401 (India). The KADAMBA however, may, in its absolute discretion commence any legal action or proceedings arising out of these terms in any other court, tribunal or other appropriate forum, and the User hereby consents to that jurisdiction.