OMS AA Privacy Policy

General

This document is an electronic record in terms of the Information Technology Act, 2000 and rules thereunder, and the provisions pertaining to electronic records in various statutes as amended by the Information Technology Act, 2000 from time to time. This electronic record is generated by a computer system and does not require any physical or digital signatures for validation, consent or acceptance.
This Agreement constitutes a binding and enforceable legal contract between OMS Fintech Account Aggregator Private Limited and any End-User of the Services. “End-User / Customer/ “You” / “Your” / “Yourself” shall mean the individual user accessing the Platform via which he/she interacts or engages with our Platform and has consented to this Agreement.
The terms “Company” / “We” / “Us” / “Our” used in these “Agreement” refer to OMS Fintech Account Aggregator Private Limited.
This Agreement governs the access to and use of the Company’s mobile application and website (“Platform”) and the Services obtained thereof (defined below).
By agreeing to this Agreement or by downloading, installing or otherwise using the Platform or the Services provided by the Company, you accept and agree to the terms and conditions herein. If you do not agree to any of these terms, please do not use the Platform or the Services of the Company.
The Company may modify this Agreement from time to time and such modification shall be effective immediately upon such modification of this Agreement. You agree to be bound by any changes to this Agreement when you use the Services after any such modification is updated. It is therefore important that you review this Agreement regularly upon each use of the Services to ensure you are updated as to any changes. In case You are an employee of any organization or are authorized to act on behalf of any organization/institution, Your acceptance of this Agreement implies acceptance by such relevant organization/institution.
This Agreement, the Services, and the relationship between You and the Company shall be governed in accordance with the laws of India. You agree that all claims, differences, and disputes arising under or in connection with or in relation to the Platform, this Agreement, the Agreement(s) entered into on or through the Platform, or the relationship between You and the Company shall be subject to the exclusive jurisdiction of the courts at Chennai.
These Terms also include our privacy policy, available at https://www.omsaa.com/ (“Privacy Policy”), and any guidelines, additional terms, policies, or disclaimers made available or issued by us from time to time. We may amend this Agreement following the provisions hereunder, and the Agreement shall apply to you as amended from time to time. You may always review the current version of these Terms on our website (https://www.omsaa.com/).
Terms used in this “Terms and Conditions” agreed to by the Customer shall have the same meaning as ascribed to them in the Master Direction – Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 (hereinafter called “AA Master Directions”) and subsequent amendments thereto, unless the context indicates otherwise.

Definitions

“Master Directions” shall mean the Master Direction - Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 as amended, revised, or updated from time to time;
“Financial Information” shall have the same meaning ascribed to it in the Master Directions;
“Financial Information Provider” shall have the same meaning ascribed to it in the Master Directions;
“Financial Information User” shall have the same meaning ascribed to it in the Master Directions;
“Financial Sector Regulator” shall have the same meaning ascribed to it in the Master Directions;
“Person” shall have the same meaning ascribed to it in the Master Directions;
“RBI” shall mean the Reserve Bank of India.

3. Eligibility

Competence: Use of the Platform is available only to those individuals and organizations who can form legally binding contracts under applicable law in their respective jurisdictions. Persons who are “incompetent to contract” as per applicable law in their jurisdictions are not eligible to use the Platform. If you are a minor, i.e., under the age of 18 years, you shall not register as a user of the Platform and shall not use the Platform. As a minor, if you wish to use the Platform, such use may be made by Your legal guardian or parents on the Platform. The Company reserves the right to terminate Your membership and/or refuse to provide you with access to the Platform if it is brought to the Company’s notice or if it is discovered that you are under the age of 18 years.
Authorization: In case You are registering as a business or a corporate entity, You represent that You are duly authorized by the business/corporate entity as applicable to accept this Agreement and You have the authority to bind that business/corporate entity to this Agreement.

4. User Account

In order to use the Platform and avail the Services offered by the Company, the Company may require You to fill an online form and register yourself (“Registration Information”).
You will be required to create a profile on the Platform (“Profile”). In addition to setting up a username and password to create the Profile, you will be required to furnish certain details, including but not limited to phone numbers and other personal information. You warrant that all information furnished in connection with Your Profile is and shall remain accurate and true, and you agree that you shall promptly update Your details on the Platform in the event of any change or modification of this information.
You are solely responsible for maintaining the security and confidentiality of Your username and password and agree to immediately notify us of any disclosure or unauthorized use of Your Profile or any other breach of security with respect to Your Profile.
You agree and accept that the information provided by You is complete, accurate, and up-to-date. In the event of any change to such information, you shall update the Registration Information and Profile to keep it true, accurate, current, and complete.
You acknowledge and accept that the Company has not independently verified the information provided by You. The Company shall in no way be responsible or liable for the accuracy, inaccuracy, obsolescence, or completeness of any information provided by You.
If You provide any information that is untrue, inaccurate, obsolete, or incomplete, or the Company has reasonable grounds to suspect that such information is untrue, inaccurate, obsolete, or incomplete, the Company reserves the right to suspend or terminate Your Profile and refuse any and all current or future use of the Services.
You agree and understand that You will be solely responsible for maintaining the confidentiality of your password, which, together with Your login ID, allows You to access the Services. The Company shall not be liable for any leak of information on the part of the End-User and the consequences thereof. You agree to immediately notify us of any disclosure or unauthorized use of Your credentials or any other breach of security concerning Your Profile.
By providing us with Your email address and mobile number, You agree to receive all required notices, notifications, and information electronically on that email address or mobile number. It is Your responsibility to update any changes to Your email address and mobile number.
If You become aware of any unauthorized use of Your Registration Information or Profile, You agree to notify the Company immediately at the customer service helpdesk, the details of which are available on the Platform. The Company shall not be liable for any unauthorized use or access unless it is proved that unauthorized use or access occurred solely due to reasons directly attributable to the Company.

5. Services

Through the Platform, you may avail of the Account Aggregation Services referred to as “Services” (which term also includes the provision of the Platform to the End Customer).

For this purpose, “Account Aggregation Services” refers to the services provided by us following Master Directions which enable the following:
1. Retrieving, viewing, consolidating, organizing, and sharing Financial Information that is available with Financial Information Providers (FIPs); and
2. Presenting Your Financial Information collected from the Financial Information Provider to Financial Information Users (FIUs).
For us to render the Services to you, You hereby authorize and appoint us as Your agent with limited power to fetch or retrieve, with Your consent, Your Financial Information from Financial Information Providers.
The provision of any or all the Services is subject to applicable laws in India. Further, the provision of any or all of the Services is subject to the sole discretion of the Company and its availability on the Platform. Please check our Platform to confirm if any particular Services are available.
The information provided by the Company as part of its services is on an “as is” basis, as received from the Financial Information Provider, and without warranty of any kind, express or implied, including, but not limited to, implied warranties of merchantability, fitness for a particular purpose, title, or non-infringement.
Further, all Financial Information obtained from Financial Information Providers may be based on delayed feeds and may not reflect real-time or current rates. The Company shall not be responsible for any errors or delays in the Financial Information provided to End Users as part of its Services, or for any actions taken by End Users in reliance thereon.
We presently do not charge you any fees for Your use of the Services. However, we reserve the right to charge you for the Services in accordance with the applicable laws. Should we intend to charge for the Services, the fees shall be in line with our pricing policy available on our Platform. Additionally, any fees in the future shall be levied prospectively, and You will be provided with prior written notice in this case.

6. Company’s Obligations

We shall:
Provide Services to you only based on your explicit consent.
Ensure that the provision of Services to you is backed by appropriate agreements and/or authorisations between us, You, and the Financial Information Providers.
Ensure not to store any Financial Information that relates to You and which we may process in connection with the Services.
Not use the services of a third-party service provider for undertaking the business of account aggregation, nor support your transactions by You.
Ensure appropriate mechanisms for proper customer identification.
Share information with the Financial Information User as authorized by You in accordance with the terms of the consent provided by You.
Ensure that none of Your Financial Information accessed by the Company from the Financial Information Providers shall reside with the Company.
Not access Your user authentication credentials relating to accounts with various Financial Information Providers.
Not part with any information that it may come to acquire from or on behalf of You without Your explicit consent.
Not use or access Your Financial Information other than for performing Services as explicitly requested by the End User.

7. Consent Architecture

The Company will not retrieve, share or transfer your Financial Information without Your explicit consent.
The Company shall perform the function of obtaining, submitting, and managing your consent in accordance with the Master Direction.
The Company shall obtain your consent in a standardized consent artefact which shall contain the following details:
1. Your identity and contact information.
2. The nature of the Financial Information requested.
3. The purpose of collecting such Financial Information.
4. The identity of the recipients of the Financial Information, if any.
5. URL or other address to which notification needs to be sent every time the consent artefact is used to access information.
6. Consent creation date, expiry date, identity, and signature/digital signature of the Company; and
7. Any other attribute as may be prescribed by the RBI.
At the time of obtaining consent, the Company shall inform You of all necessary attributes to be contained in the consent artefact as mentioned above and Your right to file complaints with relevant authorities in case of non-redressal of grievances.
The Company shall provide you with a functionality to revoke consent to obtain information that is rendered accessible by a consent artefact, including the ability to revoke consent to obtain parts of such information.
The Company will ensure that the electronic consent artefact is capable of being logged, audited, and verified.
You may, at any point in time, access a record of the consents provided by You and the Financial Information Users with whom the information has been shared on the Platform.

8. Usage of Information

In the cases where Financial Information has been provided by a Financial Information Provider to the Company for transferring to a Financial Information User with your explicit consent, the Company shall:
1. Verify the identity of the Financial Information User; and, if verified,
2. Securely transfer your information to the intended recipient in accordance with the terms of the consent artefact.
In the cases where Financial Information has been provided by a Financial Information Provider to the Company for transferring to you or to a Financial Information User, the Company shall not use or disclose such information except as may be specified in the consent artefact.
You agree that we may, in accordance with our Privacy Policy, collect and use your personal information and technical data and related information.
We may use information and data pertaining to Your use of the Services for analytics, trend identification, and statistics to further enhance the effectiveness and efficiency of the Platform.
Subject to applicable laws, we may be directed by law enforcement agencies or the government and related bodies to disclose data related to you in connection with criminal proceedings. You understand and agree that in such instances, we shall have the right to share such data with relevant agencies or bodies.

9. End User Rights

The Company shall give you access to records of:

The consents provided by You; and
The Financial Information Users with whom the Financial Information has been shared.

10. Prohibited Use

As a condition of Your use of the Services, You will not use the Platform for any purpose that is unlawful or prohibited by this Agreement or by any applicable law. Your usage of the Platform is solely Your responsibility.
You shall not host, display, upload, modify, publish, transmit, store, update, or share any information that:
1. Belongs to another person and to which You do not have any right;
2. Is defamatory, obscene, pornographic, pedophilic, invasive of another’s privacy including bodily privacy, insulting or harassing on the basis of gender, libelous, racially or ethnically objectionable, related to or encouraging money laundering or gambling, or otherwise inconsistent with or contrary to laws in force;
3. Is harmful to a child;
4. Infringes any patent, trademark, copyright, or other proprietary rights;
5. Violates any law for the time being in force;
6. Deceives or misleads the addressee about the origin of the message or knowingly and intentionally communicates any information which is patently false or misleading in nature but may reasonably be perceived as a fact;
7. Impersonates another person;
8. Threatens the unity, integrity, defense, security or sovereignty of India, friendly relations with foreign states, or public order, or causes incitement to commit any cognizable offence or prevents investigation of any offence or is insulting another nation;
9. Contains software viruses or any other computer code, file, or program designed to interrupt, destroy, or limit the functionality of any computer resource;
10. Is patently false and untrue, and is written or published with the intent to mislead or harass a person, entity, or agency for financial gain or to cause injury to any person.
You shall not use any “deep-link”, “page-scrape”, “robot”, “spider” or similar automatic device, or any equivalent manual process, to access, acquire, copy, or monitor any portion of the Platform or any content, or in any way reproduce or circumvent the navigational structure or presentation of the Platform or any content. We reserve the right to bar any such activity.
You shall not attempt to gain unauthorized access to any portion or feature of the Platform, or any system or network connected to the Platform, by hacking, password “mining” or any other illegitimate means.
You shall not probe, scan or test the vulnerability of the Platform or any network connected to it, or breach the security or authentication measures. You may not reverse look-up, trace, or seek to trace any information on any other End User or visitor to the Platform or exploit any resource to obtain personal identification or information other than Your own information.
You shall not make any negative, denigrating, or defamatory statements or comments about Us, our brand, or domain name (including the term Company), or engage in any conduct that might tarnish or dilute our trademarks, trade names, or goodwill. You agree not to take any action that imposes an unreasonable or disproportionately large load on the Platform or our systems or networks.
You agree not to use any device, software, or routine to interfere or attempt to interfere with the proper working of the Platform, or with any transaction being conducted on the Platform, or with any other person’s use of the Platform.
You shall not forge headers or otherwise manipulate identifiers in order to disguise the origin of any message or transmittal You send to Us on or through the Platform, or any service offered through it. You may not pretend that You represent someone else or impersonate another entity.
You shall not use the Platform or any content for any purpose that is unlawful or prohibited by these Terms of Use, or to solicit the performance of any illegal activity or any activity that infringes the rights of the Company or any third party.

11. User Obligations

User shall:

Review the details of all requests that they receive from FIUs through our Platform to transfer Financial Information from FIPs to such FIUs in order to verify the nature and quantum of Financial Information requested, the purpose for which such Financial Information is being collected and the duration for which it will be retained by the FIU.
Only provide their consent after having duly verified the details of the request to transfer Financial Information.
Be entitled to revoke their consent for requests to transfer Financial Information that have not yet been fulfilled.
Notify the Company immediately upon becoming aware of any unauthorized access to or use of their accounts.

12. Third Party Accounts

By using the Services, you authorize the Company to access third-party account websites designated by you, on Your behalf, to retrieve account information requested by you, and you hereby appoint the Company as Your agent for this limited purpose.
You hereby represent to us that You are a legal owner of the account(s) and have the authority to designate the Company as Your agent, use the Services, and provide the Company with Your passwords, user names, and all other information you provide.
The Services do not have the capability to initiate transactions affecting Your third-party financial accounts or provide notices or instructions affecting such financial accounts. Transactional and informational activities initiated by You at such sites are not made through the Services, and we assume no responsibility for such activities.
You are responsible for all charges associated with third-party accounts and agree to comply with the terms of those services. For all purposes hereof, You hereby grant the Company a limited power of attorney and appoint the Company as Your true and lawful attorney-in-fact and agent, with 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 sites, retrieve information, and use Your information as described above, with full power and authority to perform each and every act and thing requisite and necessary to be done in connection with such activities, as fully to all intents and purposes as You might or could do in person.

13. Intellectual Property

You understand, acknowledge, and agree that the Company is the sole owner of all rights, titles, and interests including any and all intellectual property rights in the Platform, design, software, interface, colour scheme, content, logos, trade names, trademarks, brand names, designs, services, and any such intellectual property used in connection with the Platform.
Except as stated herein, none of the materials may be modified, copied, reproduced, distributed, republished, downloaded, displayed, sold, compiled, posted, or transmitted in any form or by any means, including but not limited to electronic, mechanical, photocopying, recording, or other means, without the prior express written permission of the Company. Save and except with the Company’s prior written consent, You may not insert a hyperlink to the Platform, or modify/alter any information or materials contained in the Platform.
No license or other such right is granted under this Agreement, and Your access to and/or use of the Platform should not be construed as granting, by implication, estoppel, or otherwise, any license or right to use any trademarks, service marks, or logos appearing on the Platform without the prior written consent of the Company or the relevant third-party proprietor thereof.
You may view, print, and/or download a copy of such materials on any single computer solely for your personal, informational, non-commercial use, provided the User keeps intact all copyright and other proprietary notices.

14. Disclaimers and Warranties

We do not warrant the accuracy, suitability, or correctness of any Financial Information that is made available on or through the Services.
The Platform and the Services are provided by us on an “as is” basis without warranty of any kind, express, implied, statutory, or otherwise, including the implied warranties of title, non-infringement, merchantability, or fitness for a particular purpose. Without limiting the foregoing, we make no warranty that:
1. The Platform or the Services will meet Your requirements or expectations, or that Your use of the Services will be uninterrupted, timely, secure, or error-free;
2. Any errors or defects in the Platform will be corrected.
No advice or information, whether oral or written, obtained by you from us shall create any warranty that is not expressly stated in the Agreement.
You hereby accept full responsibility for any consequences that may arise from Your use of the Services, and expressly agree and acknowledge that we shall have absolutely no liability in this regard.
To the fullest extent permissible under applicable law, we, our affiliates, and related parties each disclaim all liability towards you for any loss or damage arising out of or due to:
1. Your use of, inability to use, or availability or unavailability of the Services;
2. The occurrence or existence of any defect, interruption, or delays in the operation or transmission of information to, from, or through the Services, communication failure, theft, destruction, or unauthorised access to our records, programs, services, servers, or other infrastructure relating to the Services; or the failure of the Services to remain operational for any period of time.

Miscellaneous

1. Notice

Company may provide You with notices and communications by e-mail, SMS, push notifications, regular mail or postings on the Website, or by any other reasonable means. Except as otherwise set forth herein, any notice to Company must be sent by courier or registered mail and addressed to the Grievance Officer.

2. Waiver

Enforcement of the Agreement is solely at the Company’s discretion and failure to enforce a provision in some instances does not constitute a waiver of the Company’s right to enforce such a provision in other instances.

3. Severability

In the event that any provision of this Agreement is declared by any juridical or other competent authority to be void, voidable, illegal, or otherwise unenforceable, or indications of the same are received by either party from any relevant competent authority, the Company shall have the right to amend that provision in such reasonable manner as it thinks fit without illegality, or it may be severed from this Agreement in such manner as the Company thinks fit. The remaining provisions shall remain in full force and effect unless the Company decides in its sole discretion to stop the provision of Services either wholly or in part.

4. Limitation of Liability

In no event will the Company or its associates, or any person connected with it, be liable for any direct, indirect, special, punitive, exemplary, or consequential losses or damages of whatsoever kind arising out of Your use or access to the Platform, including loss of profit or the like, whether based on breach of contract, tort (including negligence), or otherwise. The Company acts as a consent management platform, passing encrypted data to the data-seeking entities. In case of a data breach caused due to the data-seeking entities in a relationship with the Company, the Company shall not be liable for the damage or its consequences.

5. Indemnity

To the full extent permitted by applicable law, the End User hereby agrees to indemnify the Company and its affiliates, officers, directors, agents, employees, and suppliers against any action, liability, cost, claim, loss, damage, proceeding, or expense suffered or incurred if directly or indirectly arising from Your use of the Platform and Services, or from Your violation of this Agreement and applicable laws.

6. Assignment

You shall not license, sell, transfer, or assign Your rights, obligations, or covenants under these Terms in any manner without our prior written consent. We may grant or withhold this consent at our sole discretion and subject to conditions we deem appropriate. We may assign our rights to any of our affiliates, subsidiaries, parent companies, or any successor in interest of any business associated with the Services without prior notice to You.

7. Third Party Rights

No third party shall have any rights to enforce any terms contained herein.

8. Force Majeure

We shall have no liability to You if we are prevented from or delayed in performing our obligations or from carrying on our business by acts, events, omissions, or accidents beyond our reasonable control. This includes, without limitation, strikes, utility service failure, telecommunications network failure, acts of God, war, riot, civil commotion, pandemics, malicious damage, or compliance with any governmental order, law, rule, regulation, or direction.

9. Grievance Redressal

You may contact our designated Grievance Redressal Officer with any complaints or queries relating to the Services or these Master Terms through registered post or email, as indicated below:
Name: Nitin R Sawant
Email Address: nitin.sawant@omsaa.com
Phone: 9145354545
Address: Sr. No. 36/1/1, B Olympia Phase - 1, Office No. 601 to 606,
Baner, Pune – 411045, Maharashtra, India.
We shall ensure that Your complaint is resolved within timelines prescribed by applicable laws.

10. Termination

This Agreement shall remain in effect unless terminated in accordance with the terms herein.
We may terminate Your access to or use of the Services, or any portion thereof, immediately and at any point at our sole discretion if You violate or breach any of the obligations, responsibilities, or covenants under this Agreement, or when You cease to be a user of our Services.
Upon termination of this Agreement:
1. The Profile will expire;
2. The Services will “time-out”; and
3. This Agreement shall terminate, except for those clauses that expressly or are intended to survive termination or expiry.