Terms of Use

These Terms of Use (“Terms”) govern access to and use of the website, mobile application, and related services offered by Bankys (“Bankys,” “we,” “us,” “our”) (collectively, the “Services”). By accessing or using the Services, you agree to these Terms and our Privacy Policy available at https://www.bankys.in (“Privacy Policy”).

If you do not agree, do not use the Services.

1. Definitions

• “User,” “you,” “your” means any visitor or user of the Services
• “Account” means your registered profile with Bankys
• “Partner” means banks, NBFCs, regulated entities, billers, payment networks, and service providers we work with to provide the Services
• “Content” includes text, graphics, software, interfaces, and other materials on the Services

2. Eligibility

You must be at least 1818 years old and capable of entering into a binding contract under the Indian Contract Act, 1872 to use the Services.

You represent that the information you provide is true, complete, and current, and you will update it if it changes.

3. Nature of Services; regulatory positioning

Bankys provides technology-enabled financial services and related features (such as account aggregation, payments initiation, personal finance tools, and other offerings as described on the Services). Certain features may be offered in partnership with regulated entities.

Bankys is not a bank and does not accept deposits unless explicitly stated for a specific regulated product offered through an authorized Partner. Final eligibility, limits, and approvals for regulated products (for example, credit) may be determined by Partners in accordance with applicable law.

4. Account registration, KYC, and compliance checks

To use certain features, you may need to create an Account and complete verification, including Know Your Customer (KYC) checks as required by applicable laws and RBI directions.

You authorize Bankys and its Partners/service providers to:

• Verify your identity and conduct KYC/AML checks (including screening, risk assessment, and fraud prevention)
• Request and validate documents/information as needed to provide the Services
• Report information where required (for example, to credit bureaus, regulators, or law enforcement)

Where Aadhaar is used, it will be only as permitted by law and applicable regulatory directions; alternative documents may be accepted where required by law.

5. Your responsibilities

You agree to:

• Maintain the confidentiality of credentials, PINs, passwords, device locks, and OTPs
• Immediately notify us of suspected unauthorized access or security incidents
• Use the Services only for lawful purposes and in accordance with these Terms
• Ensure you have the required permissions to share any third-party data you provide to us

You are responsible for all activity on your Account unless caused by our gross negligence or willful misconduct.

6. Prohibited conduct

You must not:

• Use the Services for unlawful, fraudulent, or harmful activities
• Attempt to gain unauthorized access to systems, accounts, or data
• Reverse engineer, scrape, crawl, or copy the Services except as permitted by law
• Interfere with the integrity, security, or performance of the Services
• Upload or transmit malware or disruptive code

Example: using automated scripts to try multiple OTPs or to harvest other users’ details is prohibited and may be reported to authorities.

7. Fees, charges, and taxes

Fees (if any) for specific features will be disclosed before you use that feature, including any Partner fees. You agree to pay applicable charges and taxes (including GST) as communicated.

Third-party fees (for example, data charges, bank fees, or network charges) may apply and are outside our control.

8. Third-party services and Partner terms

Some parts of the Services may link to or rely on third-party platforms (including Partner systems). Your use of such services may be subject to their terms and privacy practices.

To the extent a Partner’s terms apply to a regulated product, those terms may govern that product relationship. Bankys is not responsible for third-party platforms beyond what is required under applicable law.

9. Communications and electronic records

You consent to receive communications from us electronically (email, SMS, WhatsApp, in-app, website notices), including service updates, regulatory notices, and transactional information.

You agree that electronic records and signatures are valid under the Information Technology Act, 2000 and applicable rules.

10. Intellectual property

All rights in the Services and Content are owned by Bankys or its licensors. You receive a limited, revocable, non-exclusive, non-transferable right to use the Services for personal, lawful purposes as permitted by these Terms.

You must not use our trademarks, logos, or brand elements without prior written permission.

11. Privacy and data protection

Our collection and processing of personal data is governed by the Privacy Policy, including your rights as a Data Principal under the DPDP Act, 2023.

Where the Services require your consent for specific processing (including marketing), you may withdraw consent as described in the Privacy Policy, subject to lawful and regulatory retention requirements.

12. Service availability; changes and suspension

We may add, modify, suspend, or discontinue any part of the Services, temporarily or permanently, including to comply with law, manage risk, prevent fraud, or maintain security.

We do not guarantee uninterrupted availability. Scheduled maintenance and unplanned outages may occur.

13. Disclaimers

The Services are provided on an “as is” and “as available” basis, to the maximum extent permitted by law.

Bankys does not warrant that:

• The Services will be error-free, uninterrupted, or fully secure
• Any financial insights, alerts, or analytics will be accurate or suitable for your needs

Any calculators, insights, or recommendations are informational and not investment, tax, or legal advice. You should consult qualified professionals where appropriate.

14. Limitation of liability

To the maximum extent permitted by applicable law, Bankys will not be liable for indirect, incidental, special, consequential, or punitive damages, including loss of profits, revenue, data, goodwill, or business opportunity.

Where liability cannot be excluded, Bankys’ aggregate liability for claims relating to the Services will be limited to the fees you paid to Bankys (if any) for the specific feature giving rise to the claim in the 33 months preceding the event, unless a higher minimum is required by law.

Nothing in these Terms limits liability for fraud, willful misconduct, or other liability that cannot be limited under applicable law.

15. Indemnity

You agree to indemnify and hold harmless Bankys, its directors, employees, and Partners from claims, damages, penalties, and expenses arising out of your misuse of the Services, violation of these Terms, or violation of law or third-party rights.

16. Termination

You may stop using the Services at any time. We may suspend or terminate your access (in whole or part) if we reasonably believe you have violated these Terms, pose a risk, or where required by law or regulators.

Termination does not affect obligations that should survive (including compliance, indemnity, and dispute provisions), and data retention will follow the Privacy Policy and applicable law.

17. Grievance redressal

For complaints or support requests, you may contact:

Grievance Officer
Bankys
Email: grievance @ bankys.in

For privacy-related requests, contact: privacy @ bankys.in (as described in the Privacy Policy). You may also approach the appropriate regulator/authority as permitted by law.

18. Governing law and dispute resolution

These Terms are governed by the laws of India.

If a dispute arises, the parties will first attempt to resolve it amicably within 3030 days. If unresolved, the dispute will be referred to arbitration under the Arbitration and Conciliation Act, 1996, by a sole arbitrator appointed mutually. The seat and venue of arbitration will be New Delhi, India, and the language will be English.

Nothing prevents either party from seeking urgent interim relief from courts of competent jurisdiction in New Delhi.

19. Changes to Terms

We may update these Terms from time to time. We will post the updated Terms on the website and/or notify you through the Services. Continued use after the effective date constitutes acceptance.

20. Miscellaneous

• Severability: If any provision is held invalid, the remaining provisions remain in effect
• Assignment: You may not assign your rights without consent; we may assign as part of restructuring, merger, or business transfer
• No waiver: Failure to enforce a provision is not a waiver
• Entire agreement: These Terms, along with the Privacy Policy and any product-specific terms, form the entire agreement for use of the Services

Contact:
Bankys
Website: www.bankys.in
Email: privacy @ bankys.in