Terms of Service

These terms and conditions (“Terms”)govern the access to and use of the omsaa application and website (“Platform”) and the Services (defined below).

These Terms also include our privacy policy, available at www.omsaa.com (“Privacy Policy”), and any guidelines, additional terms, policies, or disclaimers made available or issued by us from time to time. These Terms may be amended by us in accordance with the provisions hereunder, and the Terms, as amended from time to time, shall apply to you. You may always review the current version of these Terms on the Platform.

These Terms constitute a binding and enforceable legal contract between Omsaa Technologies Private Limited (“Company”, “we”, “omsaa”, or “us”)any user of the Services and any Financial Information Provider or Financial Information User who use our Sandbox environment(“you” or “your”). Omsaa Technologies Private Limited is licensed by RBI and holds a Certificate of registration granted by the Reserve Bank of India (RBI) to operate as an Account Aggregator. The Company is having a valid Certificate of Registration dated 06 Mar 2020 issued by the Reserve Bank of India under section 45 IA of the Reserve Bank of India Act, 1934. You represent and warrant that you (a) have full legal capacity and authority to agree and bind yourself to these Terms, (b) if you are an individual, you are eighteen years of age or older, if you are under the age of 18, you should get the assistance of a parent or legal guardian to use the Services and (c) are an Indian resident. If you represent an entity, organisation, or any other legal person, you confirm and represent that you have the necessary power and authority to bind such entity, organisation, or legal person to these Terms.

By using our Platform, the Services or the Sandbox, you agree that you have read, understood, and are bound by these Terms, and that you comply with the requirements listed here. If you do not agree to all of these Terms or comply with the requirements listed here, please do not access the Platform or use the Services and Sandbox.

1. Definitions

(a) “AA 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 as available at https://www.rbi.org.in/Scripts/BS_ViewMasDirections.aspx?id=10598;

(b) “Customer”for the purpose of these directions means a ‘person’ who has entered into a contractual arrangement with us to avail the Services provided by us or as defined under the AA Master Directions;

(c) “Financial Information”shall have the same meaning ascribed to it in the AA Master Directions which includes your financial data available with a Financial Information Provider;

(d) “Financial Information Provider” shall mean a bank, banking company, non-banking financial company, asset management company, depository, depository participant, insurance company, insurance repository, pension fund, or such other entity as may be identified as a “financial information provider” in the AA Master Directions;

(e) “Financial Information User” shall mean an entity registered with and regulated by any Financial Sector Regulator, or such other entity as may be identified as a “financial information user” in the AA Master Directions;

(f) “Financial Sector Regulator” shall have the same meaning ascribed to it in the AA Master Directions;

(g) “Personal Information” or “Personal Data” means any data about an individual who is identifiable by or in relation to such data;

(h) “RBI” shall mean the Reserve Bank of India.

(h) “Sandbox” shall mean the testing environment available of the Platform that allows Financial Information Provider and Financial Information User assess our offerings.

Words that are capitalised within the Terms but not defined in this Clause 1 shall have the meaning ascribed to them in the specific clause.

2. Scope

(a) “Account Aggregation Services” : Through the Platform, you may:

(i) retrieve, view, consolidate, organise, and share Financial Information that is available with Financial Information Providers; and

(ii) present your Financial Information to Financial Information Users.

(b) The Account Aggregation Services offered by us through the Platform along with the provision of an access to the Platform to the Customer shall be referred to as “Services”.

(c) For us to render the Services to you, you hereby authorise and appoint us as your agent with limited power to access, with your consent in accordance with clause 6 of these Terms, your Financial Information from Financial Information Providers and in turn also share it with the Financial Information Users as per your requirement.

(d) 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 a prior written notice in this case.

3. Profile creation

(a) To avail the Services, 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 name, email address and phone numbers as may be required by applicable laws. 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 to or modification of this information.

(b) You are solely responsible for maintaining the security and confidentiality of your AA Handle, username and password and agree to immediately notify us of any disclosure or unauthorised use of your Profile or any other breach of security with respect to your Profile. You will (i) report to us immediately and use reasonable efforts to stop any unauthorized use of the Services that is known or suspected by you, and (ii) not provide false identity information to gain access to or use the Services. “AA Handle” means a unique identifier generated upon your registration on our Platform, used by the parties to access the Platform and render the Services.

(c) You expressly agree to be liable and accountable for all activities that take place through your Profile. We shall in no manner be liable for any unauthorised access to your Profile. We shall not be liable for any loss of data or functionality caused directly or indirectly by your improper use.

3.1 Kyc

(a) We may be required to undertake certain “know your customer” processes in relation to users of the Platform who intend to avail certain features of the Services. In this regard, from time to time, we shall require you to upload information and documents that may be necessary to ascertain your eligibility to use certain features of the Services (“KYC Documents”).

(b) You authorise us, and any third-party service provider we may engage with, to process your KYC Documents and ascertain your eligibility. Any processing undertaken by us shall be in accordance with our Privacy Policy. You agree that you may be subject to additional terms of service in the event a third party processes information under this Clause. Further, in the event any additional information, data, or documentation is required to determine eligibility (collectively, “Additional Information”), you hereby agree to share such Additional Information promptly upon request, and further, authorise us to process such Additional Information.

(c) You agree and warrant to provide true, complete, and up-to-date KYC Documents and Additional Information. You further acknowledge that (i) any false or misleading information provided in this regard shall constitute a material breach of these Terms, and (ii) your access to certain features of the Services may be limited or denied if you fail to share KYC Documents and Additional Information.

3.2 consent to use data

(a) In accordance with the AA Master Directions, we do not store or access or visibility over any Financial Information pertaining to you. For the purpose of providing Services, we may access information limited to your name, email address, contact number, PAN , date of birth and account number (in masked form). The accessed PAN and date of birth information are not stored by us.

(b) The provision of our Services enables you to provide your consent to the disclosure and transfer of your Financial Information. Consent is collected and confirmed through the use of a consent artefact, which will require you to confirm the following datasets:

(i) your identity and optional contact information;

(ii) the nature of the Financial Information requested;

(iii) purpose of collecting such information;

(iv) the identity of the recipients of the information;

(v) URL or other address to which notification needs to be sent every time the consent artefact is used to access information;

(vi) the consent creation date, the date of expiry of the consent, and your signature/digital signature;

(vii)any other information that may be required under applicable law.

(c) You may, at any point in time, revoke all or any of your consent(s) provided to us through the consent artefact to obtain any Financial Information that relates to you. Upon revocation, the Financial Information Provider and the Financial Information User shall be notified of such notification.

(d) 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.

(e) You agree that we may, in accordance with our Privacy Policy, collect and use your personal information and technical data and related information.

(f) We may use information excluding the Financial Information and data pertaining to your usage of the Services and activities in the Platform for analytics, trends’ identification, and statistics to further enhance the effectiveness and efficiency of the Platform.

(g) Subject to applicable laws, we may be directed by law enforcement agencies or the government and related regulatory bodies to disclose data related to you in connection with criminal proceedings or any other proceedings. You understand and agree that in such instances, we shall have the right to share such data with relevant agencies or bodies.

4. Our obligations

(a) We shall provide the Services to you on the basis of your explicit consent.

(b) We shall ensure that the provision of Services to you is backed by appropriate agreements and/or authorisations between us, you, and the Financial Information Users.

(c) We do not store any Financial Information that relates to you and which we may process in connection with the Services.

(d) We shall not use the services of a third-party service provider for undertaking the business of account aggregation.

(e) We shall not access your user authentication credentials relating to accounts with various Financial Information Providers.

5. Your responsibilities

(a) You represent and warrant that all information that is provided through or in relation to the Services is complete, true, and correct on the date of agreeing to these Terms and shall continue to be complete, true, and correct while you avail the Services. Should any information that you provide change during the existence of these Terms, you undertake to immediately bring such change to our notice and update the same through your Profile promptly. You acknowledge that we exercise no control over the content of the information transmitted by you through the Platform. We do not accept any responsibility or liability for any loss or damage that you may suffer or incur if any information, documentation, material, or data provided to avail the Services is incorrect, incomplete, inaccurate, or misleading, or if you fail to disclose any material fact.

(b) You shall be solely responsible for ensuring compliance with applicable laws and shall be solely liable for any liability that may arise due to a breach of your obligations in this regard.

(c) You shall extend all cooperation to us in our defence of any proceedings that may be initiated against us due to a breach of your obligations or covenants under these Terms.

(d) You shall not use the Services in any manner except as expressly permitted in these Terms. Without limiting the generality of the preceding sentence, you shall not:

(i) copy, modify, adapt, translate, reverse engineer, decompile, disassemble, alter, reproduce or otherwise make any changes to the Platform or create any derivative works,

(ii) use the Platform in any manner to provide time-sharing, benchmarking or other computer services to third parties, except as expressly provided herein, allow any third party to access or benefit from the functionality of the Platform, or use the Platform to develop any competing or similar product.

(iii) use the Services to transmit any data or send or upload any material that contains viruses, trojan horses, worms, timebombs, 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;

(iv) use any robot, spider, other automated device, or manual process to monitor or copy the Platform or any portion thereof;

(v) engage in the systematic retrieval of content from the Platform to create or compile, directly or indirectly, a collection, compilation, database, or directory;

(vi) use the Services in (A) any unlawful manner, (B) for fraudulent or malicious activities, or (C) in any manner inconsistent with these Terms; or

(vii) violate applicable laws in any manner.

(e) You warrant that you shall not engage in any activity that interferes with or disrupts access to the Platform.

(f) You shall not attempt to gain unauthorised access to any portion or feature of the Platform, any other systems or networks connected to the Platform, to any of our servers, or through the Platform, by hacking, password mining, or any other illegitimate means.

6. Intellectual property

(a) All rights, title, and interest in and to the Platform, Services and the Sandbox, including all intellectual property rights arising out of the Platform, Services and the Sandbox, are owned by, or otherwise licensed to us. Subject to compliance with these Terms, we grant you a non-exclusive, non-transferable, non-sub licensable, royalty free, revocable, and limited licence to use the Platform, Services and the Sandbox in accordance with these Terms and its written instructions issued from time to time.

(b) We may request you to submit suggestions and other feedback, including bug reports, relating to the Platform or Services from time to time (“Feedback”). You hereby assign to us all right, title and interest to such Feedback and an exclusive right to create any developments based on such Feedback. We may freely use, copy, disclose, publish, display, distribute, and exploit the Feedback.

(c) Except as stated in these Terms, nothing in these Terms should be construed as conferring any right in or licence to our or any third party’s intellectual property rights.

7. Term and termination

(a) These Terms shall remain in effect unless terminated in accordance with the terms hereunder.

(b) We may terminate your access to or use of the Services or the Sandbox, 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 these Terms, or when you cease to become a user of our Services or the Sandbox.

(c) Upon termination of these Terms:

(i) the Profile will expire;

(ii) the Services will “time-out”; and

(iii) these Terms shall terminate, except for those clauses that expressly or are intended to survive termination or expiry.

8. Disclaimers and warranties

(a) We do not warrant the accuracy, suitability, or correctness of any Financial Information that is made available on or through the Services and the Sandbox.

(b) THE PLATFORM, THE SERVICES AND THE SANDBOX 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. WE DO NOT WARRANT THAT THAT THE SERVICES OR THE SANDBOX WILL OPERATE IN COMBINATION WITH YOUR APPLICATIONS, OR WITH ANY OTHER HARDWARE, SOFTWARE, SYSTEMS OR DATA PROVIDED BY YOU. YOU ACKNOWLEDGE THAT WE DO NOT CONTROL THE TRANSFER OF DATA OVER COMMUNICATIONS FACILITIES, INCLUDING THE INTERNET, AND THAT THE SERVICES MAY BE SUBJECT TO LIMITATIONS, DELAYS, AND OTHER PROBLEMS INHERENT IN THE USE OF SUCH COMMUNICATIONS FACILITIES. Without limiting the foregoing, we make no warranty that:

(i) The functions contained in the Platform, the Services or the Sandbox will meet your requirements or expectations, or that your use of the Services or Sandbox will be uninterrupted, timely, secure, or error-free; or

(ii) any errors or defects in the Platform will be corrected.

(c) No advice or information, whether oral or written, obtained by you from us shall create any warranty that is not expressly stated in the Terms.

(d) You hereby accept full responsibility for any consequences that may arise from your use of the Services and the Sandbox, and expressly agree and acknowledge that we shall have absolutely no liability in this regard.

(e) You hereby understand that some Financial Information sought from the Financial Information Provider may be under processing or may not have real time information (like for demat folios) and hence may not reflect appropriately. This should not be construed as deficiency in our Services and accordingly reliance on the information supplied by us should be made.

(f) To the fullest extent permissible by law, we, our affiliates, and related parties each disclaim all liability towards you for any loss or damage arising out of or due to:

(i) your use of, inability to use, or availability or unavailability of the Services or the Sandbox including any rejection, downtime, malfunction, fraud, or negligence by you.

(ii) the occurrence or existence of any defect, interruption, or delays in the operation or transmission of information to, from, or through the Services, communications failure, theft, destruction or unauthorised access to our records, programmes, services, server, or other infrastructure relating to the Services; or

(iii) the failure of the Services or the Sandbox to remain operational for any period of time.

(iv) Any Force Majeure Events.

(v) Scheduled downtime and unscheduled downtime.

(vi) Change in applicable law which may impact this Terms.

(vii) Revocation of the consent by the Customer.

(g) NOTWITHSTANDING ANYTHING TO THE CONTRARY CONTAINED HEREIN, NEITHER WE NOR ANY OF OUR AFFILIATES OR RELATED PARTIES SHALL HAVE ANY LIABILITY TO YOU OR ANY THIRD PARTY FOR ANY INDIRECT, INCIDENTAL, SPECIAL OR CONSEQUENTIAL DAMAGES OR ANY LOSS OF REVENUE OR PROFITS ARISING UNDER, DIRECTLY OR INDIRECTLY, OR RELATING, IN ANY MANNER WHATSOEVER, TO THESE TERMS OR THE SERVICES. YOU AGREES THAT OUR LIABILITY (WHETHER IN CONTRACT, TORT (INCLUDING NEGLIGENCE)) HEREUNDER FOR DIRECT DAMAGES, REGARDLESS OF THE FORM OF ACTION, SHALL NOT EXCEED INR 10,000. THE FOREGOING LIMITATIONS OF LIABILITY SHALL APPLY NOTWITHSTANDING THE FAILURE OF ESSENTIAL PURPOSE OF ANY LIMITED REMEDY HEREIN.

(h) If you are using this Platform for the purposes of accessing the Sandbox, you understand that we have Sandbox available solely for your evaluation of our offerings. In no event shall this be considered as a commercial service. In the event, you wish to use/avail the subscription to our offerings, you may contact us at nitin.sawant@omsaa.com

9. Indemnity

You shall indemnify, defend at our option, and hold us, our parent company, subsidiaries, affiliates, and their officers, employees, directors, agents, and representatives, harmless from and against any claim, demand, lawsuits, judicial proceeding, losses, liabilities, damages and costs (including, without limitation, all damages, liabilities, settlements, and attorneys’ fees) due to or arising out of your access to the Platform, use of the Services or the Sandbox, violation of these Terms or any infringement of these Terms by any third party who may use your Profile to access the Services.

10. Modification

We reserve the right at any time to add, modify or discontinue, temporarily or permanently, the Services (or any part thereof) with or without cause. We shall not be liable for any such addition, modification, suspension, or discontinuation of the Services.

11. Jurisdiction, governing laws, and dispute resolution

(a) These Terms shall be governed by and construed and enforced in accordance with the laws of India. Subject to other provisions in this Clause, courts in Pune shall have exclusive jurisdiction over all issues arising out of these Terms or the use of the Services.

(b) Any controversies, conflicts, disputes, or differences arising out of these Terms shall be resolved by arbitration in Pune in accordance with the Arbitration and Conciliation Act, 1996 for the time being in force, which is deemed to be incorporated by reference in this Clause. The language of the arbitration shall be English.

(c) The parties to the arbitration shall keep the arbitration confidential and not disclose to any person, other than on a need to basis or to legal advisors, unless required to do so by law. The decision of the arbitrator shall be final and binding on all the parties hereto.

(d) Each party to the arbitration shall bear its own costs with respect to any dispute. You can also raise a dispute with an Online Dispute Resolution system ODR

12. Grievance redressal

(a) You may contact our designated Grievance Redressal Officer with any complaints or queries relating to the Services or these Terms through registered post or through email, details of which are provided below:

Email Address: nitin.sawant@omsaa.com

Contact details: Email id:nitin.sawant@omsaa.com , Mobile number: (+91) 9145354545

Grievance Redressal Officer: Nitin Sawant

Registered Address:6th Floor, Olympia, Mumbai Bangalore Highway Near Supreme HQ, Baner-411045, Pune Maharashtra

(b) We shall ensure that your complaint is resolved within 30 (thirty) days from the date of the complaint. In the event the complaint is not redressed within such period, you may appeal to the RBI in accordance with the applicable regulations.

13. Miscellaneous provisions

(a) Modification: We reserve the right at any time to modify these Terms and to add new or additional terms or conditions on use of the Services. Such modifications and additional terms and conditions will be communicated to you and, unless expressly rejected (in which these Terms shall terminate), will be effective immediately and will be incorporated into these Terms. In the event you refuse to accept such changes, these Terms will terminate.

(b) Severability: If any provision of these Terms is determined by any court or other competent authority to be unlawful or unenforceable, the other provisions of these Terms will continue in effect. If any unlawful or unenforceable provision would be lawful or enforceable if part of it were deleted, that part will be deemed to be deleted, and the rest of the provision will continue in effect (unless that would contradict the clear intention of the clause, in which case the entirety of the relevant provision will be deemed to be deleted).

(c) Assignment: You shall not license, sell, transfer, or assign their 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 any conditions we deem appropriate. We may assign our rights to any of our affiliates, subsidiaries, or parent companies, or to any successor in interest of any business associated with the Services without any prior notice to the you.

(d) Notices: All notices, requests, demands, and determinations for us under these Terms (other than routine operational communications) shall be sent to nitin.sawant@omsaa.com

(e) Third Party Rights: No third party shall have any rights to enforce any terms contained herein.

(f) 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, including, without limitation, strikes, failure of a utility service or telecommunications network, act of God, war, riot, civil commotion, malicious damage, compliance with any law or governmental order, rule, regulation, or direction.("Force Majeure Event")

(g) Translations: We may provide you with translated versions of these Terms solely to assist you with understanding these Terms in greater detail. In the event of any inconsistency between the English version of these Terms and any translated version, the terms of the English version shall prevail.

14. OMS Account Aggregator does not support financial transactions by customers.