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ICICI Bank ICICI Bank

 

TERMS AND CONDITIONS GOVERNING
e-RUPI SERVICES

 

The terms and conditions contained hereinafter (Terms of Use) shall apply to the use of the Service and any other linked pages, products, software(s), API keys, features, content or application services (including but without limitation to any mobile application services) in connection therewith, offered from time to time by ICICI Bank Ltd, having its registered office at: at ICICI Bank Towers, near Chakli Circle, Old Padra Road, Vadodara, 390 007 Gujarat and its Corporate Office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai 400 051.

 

These Terms of Use shall be in addition to any other terms as stipulated by ICICI Bank from time to time on its Website (defined below) whether pertaining to the Account (defined below) or in relation to other products, services or offers provided by ICICI Bank. Any person who may or may not log on to or is using the Website (even when such person does not avail of any services provided in the Website including but not limited to the Merchants, Sponsors, Beneficiaries (SERVICES) (hereinafter referred to as a USER) shall be presumed to have read these ‘Terms of Use’ and unconditionally and irrevocably accepted the terms and conditions set out herein (these Terms of Use). The Terms of Use may be revised or altered by ICICI Bank Ltd. at our sole discretion at any time without any prior intimation to the User. Any such changes by ICICI Bank will be effective immediately. By continuing to use this Website or to access the Services/usage of our Services after changes are made, you agree to be bound by the revised/amended Terms of Use and such amendments shall supersede all other terms of use previously accepted by the User.

 

Definitions

In this document, the following words and phrases have the meanings set opposite them unless the context indicates otherwise:

 

  • Words or expressions used in this form, but not specifically defined will have the respective meanings assigned to them by NPCI.

    •  

  • ‘Account(s)’ refers to the Resident Indian Special Savings and/or Current Bank Account(s) held and maintained with ICICI Bank to be used for operations through the e-RUPI Facility

  • ‘Guidelines’ means the Guidelines as prescribed by NPCI, RBI and/or any other regulatory authority/ies pertaining to the e-RUPI Facility and/or the e-RUPI Plug-in Facility, as updated from time to time

  • ‘ICICI Bank’ means ICICI Bank Limited, a company incorporated under the Companies Act, 1956 and licenced as a Bank under the Banking Regulation Act, 1949, having its registered office at ICICI Bank Towers, near Chakli Circle, Old Padra Road, Vadodara, 390007 Gujarat and its Corporate Office at ICICI Bank Towers, Bandra Kurla Complex, Mumbai – 400051

  • ‘e-RUPI Voucher’ means a cashless, contactless digital voucher system powered by the National Payments Corporation of India (NPCI). It enables government entities, corporates and other authorised organisations to issue digital vouchers for specific purposes, such as welfare schemes, health services and employee benefits

  • ‘Merchant/s’ means and includes online, mobile-app based and offline merchants who provide goods and services in exchange for payment through e-RUPI. They are specific voucher acceptance points where the e-RUPI voucher can be redeemed/used

  • ‘Partner/s’ means institutions and includes online, mobile app based and offline institutions that avail various UPI services from ICICI Bank

  • ‘Partner Application’ or ‘Merchant Application’ means the application through which the merchant is providing services to the end-user and the same is integrated with the Parent Application for the e-RUPI Plug-in

  • ‘TPAP’ means Third Party Application Providers

  • ‘Issuer Bank’ is ICICI Bank, who would initiate the request to create the e-RUPI voucher to NPCI

  • ‘Sponsor’ shall be the client who will request ICICI Bank for the creation of the e-RUPI voucher

  • ‘Beneficiary’ shall be the person to whom the e-RUPI voucher is issued. An e-RUPI Beneficiary may not be a UPI user or bank account holder

  • ‘Merchants’ are specific voucher acceptance points where e-RUPI vouchers can be redeemed/used

  • ‘Acquiring Bank/Payee Payment Service Provider (PSP)’ shall be providing facility/capability to designated merchants to accept the e-RUPI voucher for redemption.

 

Applicability of Terms

  • Each Sponsor shall register to issue an e-RUPI voucher as a mode for payment for distribution of benefits to the beneficiaries, in such form, manner and substance as ICICI Bank may prescribe and ICICI Bank shall be entitled, at its sole discretion, to accept or reject such application for registration. By onboarding for e-RUPI services, the Merchant, Beneficiary and the Sponsor agree that these Terms shall govern the use of e-RUPI services and e-RUPI transactions. The Terms shall be in addition to and not in derogation of the Guidelines issued from time to time and any other terms and conditions applicable to the User, including the InstaBIZ Terms and Conditions

  • The Sponsor hereby acknowledges that the User has read and understood these Terms and the Guidelines and agrees that the Terms and in these Terms in so far as it relates to the User, shall be binding on the User with regard to every e-RUPI transaction. Notwithstanding anything contained herein, all terms and conditions stipulated by ICICI Bank in connection with the Accounts and any other payment solution/product shall continue to apply

  • The User agrees that the e-RUPI service is offered in line with the RBI’s and NPCI’s Guidelines/directions which are subject to change from time to time. The User undertakes and confirms to keep itself updated from time to time with respect to any changes/modifications/amendments carried out in the Guidelines and/or the Terms.

     


Scope of the e-RUPI facility

  • e-RUPI voucher is an end-to-end digital solution to sponsor benefits and services to beneficiaries. e-RUPI can be issued by the sponsor with the support of Issuer banks

  • e-RUPI is a one-time and multiple time use contactless, cashless voucher-based mode of payment that helps users redeem the voucher without a card or Internet Banking access

  • e-RUPI is a person-specific and even purpose-specific digital voucher, which means these vouchers can be used by the person (to whom the voucher is issued for a specific purpose

  • e-RUPI voucher can be created or revoked at the request of the Sponsor (Government/Private Entities/Corporates)

  • The e-RUPI voucher is allowed to be redeemed for Person to Merchant (P2M) purchases only. It can be accepted on all UPI merchant acceptance points or at specific locations as per the designed scheme, while issuing such an instrument

  • Beneficiary receives an e-RUPI voucher on the mobile phone in the form of an SMS/QR Code. Beneficiary can redeem the e-RUPI voucher at any merchant center enabled for e-RUPI acceptance

  • An e-RUPI voucher is non-transferable.

     


Eligibility

The Bank’s e-RUPI services are available to:

 

  • Government entities and departments that intend to issue e-RUPI vouchers

  • Corporates or other entities that intend to issue vouchers.

     


Rights and Obligations of the Sponsor

  • The Sponsor acknowledges and agrees that to avail the e-RUPI voucher service, the Sponsor may designate a specific account from which the necessary debit shall be made. The Sponsor shall be solely and exclusively responsible for ensuring that the Account always maintains adequate funds to enable ICICI Bank to facilitate the issuance and redemption of e-RUPI vouchers. ICICI Bank shall bear no liability for any failure or dishonor of the e-RUPI voucher issuance or redemption due to insufficiency of funds in the Account

  • Where the Sponsor seeks to integrate with ICICI Bank’s e-RUPI services via Application Programming Interfaces (APIs), the Sponsor shall be solely responsible for the development of such APIs in strict accordance with ICICI Bank's technical specifications. This obligation extends to all aspects of the e-RUPI voucher creation, monitoring and Merchant enablement for e-RUPI voucher redemption

  • In cases where the Sponsor utilises ICICI Bank’s proprietary application for e-RUPI voucher creation, monitoring and Merchant enablement, the Sponsor shall adhere to ICICI Bank’s standard processes and service offerings in their entirety

  • The Sponsor shall bear full responsibility for ensuring the accuracy, validity and completeness of all information provided to ICICI Bank in connection with the creation of e-RUPI vouchers. The Sponsor shall indemnify and hold ICICI Bank harmless from all claims, losses or damages arising from the transmission of any invalid, inaccurate or incomplete information

  • It shall be the exclusive responsibility of the Sponsor to ensure that all information furnished to ICICI Bank is valid and accurate. ICICI Bank shall not be liable for any consequences arising from inaccurate or erroneous data provided by the Sponsor

  • The Sponsor is required to accurately represent its status as either a government, or non-government entity when availing the e-RUPI services. The Sponsor shall be liable for any misrepresentation of its entity status and shall indemnify ICICI Bank for any liabilities arising from such misrepresentation

  • The validity period of each e-RUPI voucher shall be determined and specified by the Sponsor at the time of issuance, provided that the maximum validity of any e-RUPI voucher shall not exceed 1 year

  • ICICI Bank shall not entertain any chargeback claims once an e-RUPI voucher has been successfully redeemed. If a legitimate refund is required, such refund shall be processed directly by the Sponsor or the Merchant who redeemed the e-RUPI voucher. ICICI Bank shall bear no liability in this regard

  • The Sponsor shall be responsible for providing beneficiaries with clear and complete instructions on the process of e-RUPI voucher redemptions, along with details of the voucher redemption centre (merchant)

  • The Sponsor shall ensure that the designated merchants are equipped with the necessary application tools to validate the scan and redeem the e-RUPI vouchers

  • In case of delayed settlement, redemption will only occur through InstaBIZ and cannot be redeemed through any other application live for e-RUPI. The Sponsor must ensure that delayed settlement redemption is processed exclusively for merchants onboarded via InstaBIZ. If a voucher is redeemed through any other application live for e-RUPI, the request will be rejected and the Bank will not be held liable for any damages or losses incurred. The Sponsor will bear full responsibility in such cases

  • In cases where the Sponsor opts for the delayed settlement feature for Merchant payments (which is optional), settlement of funds to the Merchant following the successful redemption of an e-RUPI voucher shall occur only upon the approval of the Sponsor. The Sponsor shall ensure that a mutual agreement is in place with the Merchant regarding the terms of delayed settlement and the details of such Merchants shall be communicated to ICICI Bank for the purpose of enabling e-RUPI voucher redemption. ICICI Bank shall bear no liability for any disputes arising from the rejection of a request for settlement of funds to a Merchant, such responsibility will rest solely with the Sponsor.

     


Rights and obligations of ICICI Bank

  • ICICI Bank shall onboard the Sponsor for the issuance of e-RUPI vouchers in accordance with the Bank's established and standard operating procedures. The Sponsor shall comply with such processes as may be communicated by ICICI Bank from time to time

  • ICICI Bank shall be responsible for distributing the e-RUPI vouchers exclusively in digital formats, specifically in the form of QR Codes or SMS strings, as prescribed by the National Payments Corporation of India (NPCI). Under no circumstances shall the distribution of vouchers in print or paper format be permitted. ICICI Bank shall adhere to the SMS format and voucher design specifications, as defined by NPCI for the issuance of e-RUPI vouchers to beneficiaries

  • ICICI Bank shall issue e-RUPI vouchers only upon receiving a formal request from the Sponsor. ICICI Bank shall not be held liable for any failure to issue such vouchers where a request has not been duly received from the Sponsor

  • In the case of e-RUPI vouchers with multiple usage capabilities, upon the expiration of the voucher, ICICI Bank shall refund any remaining balance to the Sponsor's designated account, following the standard refund process

  • In the case of one-time usage e-RUPI vouchers, ICICI Bank shall refund any unutilised balance to the Sponsor's designated account upon the occurrence of any of the following events, whichever is earlier: (i) the first successful redemption of the voucher; (ii) expiration of the voucher; or (iii) receipt of a revocation request from the Sponsor

  • ICICI Bank shall, upon receiving a valid revocation request from the Sponsor, revoke the e-RUPI voucher and notify the beneficiary of such revocation via SMS. The SMS shall include details of the revocation, as communicated by the Sponsor, if deemed fit with the NPCI and Bank processes

  • Upon receipt of a validation request for an e-RUPI voucher, ICICI Bank shall verify the applicable purpose code and Merchant Category Code (MCC) in accordance with the MCC and Purpose Code Mapper provided by NPCI. ICICI Bank shall not be liable for any mismatches or errors arising from incorrect data provided by the Sponsor or NPCI. Following each instance of redemption of an e-RUPI voucher, ICICI Bank shall send an SMS notification to the beneficiary

  • The Bank shall ensure to provide periodic reports to the Sponsor, detailing the redemption status of issued vouchers. The Sponsor shall reconcile the reports with their records and notify the Bank of any discrepancies within 2 days of voucher redemption.

     


Service Integration

The Sponsor will integrate through:

 

  • Bank’s platform, Eazypay Dashboard portal, for voucher issuance and monitoring

  • Bank’s APIs that will allow the Sponsor to send a voucher issuance request to the Bank and the Bank will send the voucher issued and redemption data. It will also allow voucher status checks for the voucher issued.

The case where the Sponsor is using the Eazypay Dashboard portal for voucher issuance and monitoring,

 

  • The Sponsor shall keep a complete and accurate record of (i) the Sponsor’s End Users, (ii) voucher issued, (iii) merchants enabled or disabled (iv) any other obligations of the Sponsor under this. The Sponsor shall notify ICICI Bank as soon as it becomes aware of any unauthorised use of the Eazypay Dashboard portal by any person.

The case where the Sponsor is integrating with the Bank through the Bank’s APIs,

 

  • The Sponsor shall keep a complete and accurate record of (i) the Sponsor’s End Users, (ii) the Sponsor’s use of the APIs and API Data, (iii) the Sponsor’s development of the Application and (iv) any other obligations of the Sponsor under this. The Sponsor shall notify ICICI Bank as soon as it becomes aware of any unauthorised use of the APIs or API data by any person

     

    • for the Sponsor to access the APIs solely for the purposes of:

    • internally developing the applications for the stated purpose

    • making API calls in compliance with API limits

    • to display the API data received from the APIs (together with any derived data) within the application for the purpose

    • To display certain ICICI Bank marks in compliance with ICICI Bank’s Brand Guidelines solely in connection with the use of the APIs, API data, application and the Facility and not in connection with the advertising, promotion, distribution or sale of any other products or services

    • The Sponsor shall be entitled to use the APIs, updates and related documentation for the application and provision of the Facility.

       


  • GRANT OF LICENCE
     

    Subject to the terms, ICICI Bank agrees to grant to the Sponsor a non-exclusive, non-transferable, limited, non-sub licensable, revocable licence to use the APIs during the Term in the territory of India:


    • for the Sponsor to access the APIs solely for the purposes of:

    • internally developing the applications for the stated purpose

    • making API calls in compliance with API limits

    • to display the API data received from the APIs (together with any derived data) within the application for the purpose

    • To display certain ICICI Bank marks in compliance with ICICI Bank’s Brand Guidelines solely in connection with the use of the APIs, API data, application and the Facility and not in connection with the advertising, promotion, distribution or sale of any other products or services

    • The Sponsor shall be entitled to use the APIs, updates and related documentation for the application and provision of the Facility.

       


  • ACCESS KEYS

     

    ICICI Bank will provide the Sponsor with the Access Keys. The Sponsor acknowledges and agrees that the Access Keys are the exclusive property of ICICI Bank and that misuse of the Access Keys by the Sponsor or any third party could cause substantial loss and damage to ICICI Bank and/or its customers.


    The Sponsor shall take robust measures to protect the security of the Access Keys and shall not provide the Access Keys to any third party (except for the Sponsor’s officers, directors, employees on a need-to-know basis and who are bound by confidentiality obligations in line with those contained in this arrangement) without prior written consent of ICICI Bank.


    • The Sponsor hereby agrees to notify ICICI Bank promptly if it suspects any misappropriation or misuse or loss or unauthorised access or use of the Access Keys. ICICI Bank shall not be liable for any loss or damage arising from the Sponsor’s failure to comply with this Clause. The Sponsor shall be held liable for all direct and indirect losses incurred by ICICI Bank or any End User of the application due to any authorised or unauthorised use of any APIs attributable to the Sponsor or the Sponsor’s authorised representative, and/or due to the Sponsor’s failure in keeping the details of the Access Keys confidential

    • ICICI Bank reserves the right to revoke the Access Keys, at any time without notice, during the Term of this integration, if it suspects or has reason to believe that there has been any misuse or unauthorised access.

       



  • DISCLAIMER OF WARRANTIES

     

    • ICICI Bank does not warrant that the operation of the APIs will be uninterrupted, secure or error free or that the functions contained in the APIs will meet the Sponsor’s requirements

    • ICICI Bank does not warrant or represent that the APIs will be compatible with any third-party software. It is the Sponsor’s responsibility to ensure compatibility of the APIs with any third-party software.

    • ICICI Bank is not responsible for any delays, delivery failures or any other loss or damage resulting from the transfer of data over communications networks and facilities, including the internet and the Sponsor acknowledges that the APIs and API Data may be subject to limitations, delays and other problems inherent in the use of such communications.

       


  • RESTRICTIONS

     

    The Sponsor shall not and shall ensure that its employees, subcontractors and/or the End User shall not:

     

    • use the APIs in any manner except as expressly permitted.

    • modify or create derivative works based upon the APIs.

    • reverse engineer, decompile, disassemble or otherwise attempt to derive the source code of the APIs

    • access the APIs to build a similar or competitive product

    • sub-licence, resell, rent, lease, distribute, market or otherwise transfer usage or other rights to the APIs or modify or alter any part of the APIs

    • remove any proprietary notices from the APIs or API data

    • use any robot, crawler, other automated device or manual process to monitor or copy any part or the whole of the APIs

    • use the APIs (i) in any unlawful manner; or (ii) for fraudulent or malicious activities

    • probe, scan, or test the vulnerability of any system or network of ICICI Bank

    • breach or otherwise circumvent any security or authentication measures

    • directly or indirectly use the APIs to transmit any data or send or upload any material that contains viruses, trojan horses, worms, time-bombs, keystroke loggers, spyware, adware or any other harmful programmes or similar computer code designed to adversely affect the operation of any computer software or hardware

    • access all or any part of any the APIs or API data to build a product and/or service which competes with the APIs

    • undertake activities that are in violation of the Applicable Laws.

       


  • SECURITY

     

    The Sponsor:

     

    • shall ensure that the operating system and the software, including servers, database and hosting environment for the application have and shall continue to have robust security

    • shall be, to the extent permitted by law and except as otherwise expressly provided in this T&C, solely be responsible for procuring, maintaining and securing its network connections and telecommunications including its systems and the application and all problems, conditions, delays, delivery failures and all other loss or damage arising from or relating to the Sponsor's network connections or telecommunications links or caused by the internet

    • is required to develop the application, undertake API calls and provide access to the Facility in line with the standards prescribed by ICICI Bank from time to time

    • is required to request API data via the APIs in the format specified by ICICI Bank from time to time.

Instructions

  • The Sponsor shall bear sole responsibility for the accuracy, authenticity and completeness of all instructions provided to ICICI Bank for the issuance of e-RUPI vouchers or the provision of e-RUPI services. ICICI Bank shall not be obligated to independently verify the validity of such instructions, provided they are in the form and manner prescribed by ICICI Bank. Such instructions shall be deemed sufficient for ICICI Bank to proceed with the issuance of the e-RUPI voucher or e-RUPI service facility. ICICI Bank shall not be held liable for its failure to stop or prevent the implementation of any e-RUPI voucher issuance or redemption where such action was based on instructions received from the Sponsor. Once an e-RUPI voucher has been issued in accordance with the Sponsor's instructions, ICICI Bank shall not revoke the voucher unless it receives fresh instructions from the Sponsor to do so

  • ICICI Bank reserves the right to refuse to comply with the Sponsor’s instructions, without providing any reason and shall not be under any obligation to assess the prudence, appropriateness or consequences of any such instructions. ICICI Bank further reserves the right to suspend or withhold transactions related to e-RUPI vouchers or services if it reasonably believes that following the Sponsor's instructions may result in direct or indirect financial loss to ICICI Bank. In such instances, ICICI Bank may, at its sole discretion, require the Sponsor to provide an indemnity before continuing to operate the e-RUPI voucher or e-RUPI services

  • All instructions, requests, directives, orders or directions issued by the Sponsor to ICICI Bank are based upon the Sponsor's sole decisions and judgment and shall remain the Sponsor's exclusive responsibility. ICICI Bank shall not be liable for any consequences resulting from actions taken based on such instructions.

     


Sharing of information

The Sponsor or Merchant irrevocably and unconditionally authorises ICICI Bank to access and use all information of the Sponsor’s or Merchant’s Account(s) and records received to enable e-RUPI and services under it and share such information with:

 

  • ICICI Bank’s employees/agents/group entities/auditors, regulators, statutory authorities; or

  • credit bureaus/credit rating agencies, Central Know Your Customer Registry (CKYCR); or

  • ICICI Bank’s service providers or any such person with whom ICICI Bank contracts or proposes to contract in relation to the provision of the e-RUPI services and to enable e-RUPI transactions

For the purposes of:

 

  • Providing access to the e-RUPI services portal, API and/or InstaBIZ as the case may be, issuance of the e-RUPI vouchers and to enable e-RUPI transactions and e-RUPI services like expiry, credit to Merchant’s Account, sharing Merchant details to Sponsor upon redemption and sending an SMS to the Merchant after every transaction.

     


Disclaimer of Liability

The Sponsor agrees and acknowledges that ICICI Bank shall not be liable and shall in no way be held responsible for any damages whatsoever whether such damages are direct, indirect, incidental or consequential and irrespective of whether any claim is based on loss of revenue, interruption of business, transaction carried out by the Sponsor and processed by ICICI Bank, information provided or disclosed by ICICI Bank regarding the Sponsor or Account(s) or any loss of any character or nature whatsoever and whether sustained by the Sponsor or Merchant or by any other person. While ICICI Bank shall endeavour to promptly execute and process the e-RUPI transactions as proposed to be made by the Customer and Merchant, ICICI Bank shall not be responsible for any non-response or delay in responding due to any reason whatsoever, including due to failure of operational systems or any requirement of law. ICICI Bank shall not be liable for any loss, claim or damage suffered by the Sponsor or Merchant and/or any other third party arising out of or resulting from failure of a e-RUPI transactions on account of time-out transactions i.e. where no response is received from NPCI or any other relevant stakeholder. Neither ICICI Bank nor its affiliates, directors, officers and/or agents shall be liable for any unauthorised persons accessing the e-RUPI services and the Sponsor hereby fully indemnifies and holds ICICI Bank, its affiliates, directors and officers harmless against any action, suit, proceeding initiated by it or against it or any loss, cost or damage incurred by it as a result thereof. ICICI Bank shall under, no circumstance, be held liable to the Sponsor if the e-RUPI services portal, API and/or InstaBIZ access 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/internet failure or any other reason beyond the control of ICICI Bank. All the records of ICICI Bank in relation to the e-RUPI transactions arising out of the use of the e-RUPI services, including the time the transaction is recorded shall be conclusive proof of the genuineness and accuracy of the e-RUPI transaction. For the protection of both the parties and as a tool to correct misunderstandings, the Sponsor understands, agrees and authorises ICICI Bank, at its discretion and without further prior notice to the Sponsor, to monitor and record any or all telephonic conversations between the Merchant and ICICI Bank and any of its employees or agents. ICICI Bank expressly disclaims all warranties of any kind, whether express or implied or statutory, including, but not limited to the implied warranties of merchantability, fitness for a particular purpose, data accuracy and completeness and any warranties related to non-infringement.

 

Indemnity

The Sponsor agrees, at its own expense, to indemnify, defend and hold harmless ICICI Bank, its directors and employees, representatives, agents and its affiliates against any claim, suit, action or other proceedings brought against ICICI Bank, its affiliates, directors and employees, representatives or agents by a third party, to the extent that such claim, suit, action of other proceeding brought against ICICI Bank, its affiliates, directors and employees, representatives or agents is based on or arises in connection with the use of the e-RUPI with reference to :

 

  • Any violation of the Terms by the Sponsor;

  • Any attempts at hacking, reverse engineering, altering or any unauthorised use of the e-RUPI services and/or e-RUPI APIs and/or InstaBIZ by the Merchant or by any third party but attributable to the Sponsor;

  • Any breach of any obligation to be performed by the Sponsor hereunder;

  • Any fraud, error, inadequate financial capacity to fulfil obligations and/or provide remedies;

  • Any legal risks including but not limited to exposure to fines, penalties or punitive damages resulting from supervisory actions, as well as private settlements due to omissions and commissions of the Sponsor;

  • Against any losses which may be suffered or incurred by the NPCI or RBI and that the NPCI or RBI compels ICICI Bank to pay and which must arise out of or in connection with such events that are directly or indirectly caused by the acts or omissions of the Merchant.

The Sponsor agrees to pay all costs, damages and expenses, including but not limited to reasonable attorneys’ fees and costs awarded against it or otherwise incurred by or in connection with or arising from any such claim, suit and action or proceeding attributable to any such claim. The Sponsor hereby agrees that under no circumstances, ICICI Bank’s aggregate liability for claims relating to the e-RUPI transaction, e-RUPI services portal or e-RUPI APIs, whether for breach or in tort including but not limited to negligence shall be limited to the transaction charges/fees or consideration paid by the Sponsor within the previous 12 months for the e-RUPI facility, excluding any amount paid towards transactions.

 

Termination

ICICI Bank may suspend or terminate the provision of the e-RUPI services to the Sponsor anytime, without assigning any reasons whatsoever. The Sponsor will remain responsible for all the e-RUPI transactions conducted before such termination even post such termination.

 

General Conditions

The laws of India shall govern these terms and conditions and/or the operations in the Account(s) maintained with ICICI Bank. Any legal action or proceedings arising out of these Terms shall be brought in the courts or tribunals at Mumbai in India. ICICI Bank may, however, 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. The clause headings in these Terms are only for convenience and do not affect the meaning of the relative clause. ICICI Bank may sub-contract and employ agents to carry out any of its obligations hereunder. ICICI Bank may transfer or assign its rights and obligations under this contract to any other entity. ICICI Bank has the absolute discretion to amend or supplement any of the Terms as stated herein at any time and will endeavour to give a prior notice of <15> days for such changes wherever feasible. By continuing to use the e-RUPI services, the Sponsor or Merchant shall be deemed to have accepted the changed Terms. Notices under these Terms may be given in writing by delivering them by hand or by sending them by post to the last address given by the User and in the case of ICICI Bank, to its corporate office address. In addition, ICICI Bank may also publish notices of a general nature, which are applicable to all Users in a newspaper or on its website at www.icicibank.com . Such notices will have the same effect as a notice served individually to each Sponsor or Merchant. Any provision of these Terms, which is prohibited or unenforceable in any jurisdiction, shall as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of these Terms or affect such provision in any other jurisdiction. ICICI Bank shall have the right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits held in the Account(s) to the extent of all outstanding dues, whatsoever, arising because of the e-RUPI transaction.

 

Dispute Redressal Mechanism

  • The Sponsor understands that any refunds or reversals, in the event of a failed transaction, shall be done within <30> working days

  • For grievances in relation to e-RUPI transactions, the User can raise a dispute by calling ICICI Bank Customer Care at 1800 1080. ICICI Bank shall make the best efforts to resolve these grievances and provide an appropriate response if the grievance is attributable to a default by ICICI Bank.

Disclaimer

PROCEED