The Terms and Conditions set out this Agreement are a binding contract between yourself and Reliance Mutual Fund (RMF) for use of Personal Identification Number (PIN) for Transacting On-line through Internet on RMF's website www.reliancemutual.com
& through Telephone at RMF's Call Centre using the Transaction PIN Facility offered by Reliance Mutual Fund through its Investment Manager, Reliance Capital Management Limited and Registrar, Karvy Computershare Pvt. Ltd.
Please read this Agreement carefully. By clicking submit button and proceeding further, you acknowledge that you have read, understood and agree to be legally bound by this Agreement.
This Agreement (hereinafter referred to as the "Agreement") is made and entered into on this by and between the abovementioned persons, hereinafter referred to as the "Unitholder/s",and Reliance Capital Asset Management Limited, a company incorporated under the Companies Act, 1956, having its Corporate office at One Indiabulls Centre, Tower 1,Jupiter Mills Compound ,841, Senapati Bapat Marg, Elphinstone Road, Mumbai - 400 013. Boardline No.: 022 3099 4600. (hereinafter referred to as, "RCAM") which expression shall unless repugnant to the context of meaning thereof shall mean and include its successors, administrators, executors and permitted assigns)
- RCAM is wholly owned subsidiary of Reliance Capital Limited, which is a part of the Reliance Group.
- RCAM is registered with Securities and Exchange Board of India ( SEBI) to act as the Investment Manager for the
Schemes of Reliance Mutual Fund (hereinafter referred to as the Fund).
- RCAM has a dedicated website in the name and style of www.reliancemutual.com , which provides all the information and downloads relating to RCAM and the Fund,including the facility of Online subscription/ redemptions of units and such other services/ facilities as detailed elsewhere in this agreement. RCAM also has a dedicated Call Centre connected to Telephone No. 30301111, which endeavors to provide information to the Unitholders about their investment in the Fund and also resolves their queries.
- The Fund, through Karvy Computershare Pvt. Limited acting as its Registrar and Transfer Agent (hereinafter referred to as "Registrar") offers the facility of Personal Identification Number (hereinafter referred to as "Transaction PIN") for transacting on Telephone and Internet for the convenience of its Unitholders and to help the unitholders to gain access to their portfolio of investments in the Fund, for administering and managing the same effectively and efficiently;
The Unitholders is./ are desirous of availing the services/facilities available through the Website and Call Centre of RMF and RCAM is willing to provide such services/ facilities to the Unitholders subject to the following the terms and conditions :
TERMS OF SERVICES
Unitholder's Authorisation & consent for the Online Transactions
The Unitholder hereby authorises the Fund, who in turn, may authorise any of its agents, to extend the Transaction PIN Facility for the Designated Account(s) of the Unitholder, including an irrevocable authorisation to the Fund to act upon any electronic or telephonic instructions given to the Fund by the Unitholder through use of the Transaction PIN Facility and through the Transaction PIN, user name, password in connection with the Online Transactions (hereinafter referred to as the " Instructions"), including viewing of Designated Accounts and performing the Online Transactions under the accounts through the Fund's website (hereinafter referred to as the "said Website") or over telephone at the Call Centre and as may be permitted by the Fund under the Transaction PIN Facility from time to time.
For the purposes of this Agreement, Website shall mean and the Call center shall mean the Telephonic helpline connected to Telephone number 30301111 and Master Account shall mean Folio Number allotted to the unitholder and hereinafter referred to as "Folio Number ".
Usage of, or subscription to, the said Transaction PIN Facility shall be in addition to, and not in substitution of, the existing procedure for conducting the transactions, the services of which are available through the Online Transactions as well. The Fund shall not be responsible for any errors that may be committed by the Unitholder in the process of conducting any Online Transaction or for error or failure of the transaction over internet due to any network problems.
The Unitholder shall make only one application for each transaction, either in physical or electronic form.
Issuance of Transaction PIN , Security & confidentiality of the information
A unitholder registering for this facility shall be a Transaction PIN issued by the Registrar against each Folio Number after RMF / its Registrars satisfies itself that the signature on the Transaction PIN Agreement matches with the signature of the Unitholder in the record of RMF / its Registrars. A Unitholder having multiple Folios with the Fund shall be issued a separate / specific Transaction PIN for each Folio.
If a Folio is held on by two or three unitholders, separate Transaction PIN shall be issued to the each unit holder under the Folio.
If the holding basis of the Folio is "Joint" , Transaction PIN of each unitholder will be required to be entered for any transaction. If the holding basis of the Folio is "Anyone or Survivor" , Transaction PIN of any one unitholder will be sufficient conducting any transaction
The Unitholder agrees that pursuant to this Agreement, the Fund/its Registrar will despatch the Transaction PIN allotted to the Unitholder, by courier or post entirely at the risk of the Unitholder.
The Transaction PIN will be dispatched to the Unitholder's address recorded with the Fund.
The Fund will record a change in the Unitholder's address only on the basis of written instructions from the Unitholder , subject to verification and matching of the unitholder's signature.
The Unitholder will be responsible to confirm receipt of the Transaction PIN to the Fund and notify to the Fund forthwith, in the event of evidence of tampering with the Transaction PIN in the course of post, or non-receipt of the Transaction PIN, as the case may be.
In such an event or in the event of loss of Transaction PIN by the unitholder or due to unitholder having forgotten the Transaction PIN, a request for Issue a duplicate Transaction PIN shall be considered only on receipt of a written request from the Unitholder and subject to signature/s of the unitholders matching as per the Fund's records.
The Unitholder shall use the Transaction PIN to generate a user-name and password with which to carry out transactions through the website and shall keep the same confidential at all times. The Unitholder may use the same Transaction PIN to access various services provided by the Fund over the Internet as well as telephone in respect of his folios.
The Unitholder shall have a facility / choice to change the Transaction PIN allotted by the Registrars to a Transaction PIN of his choice and to make the PINs uniform, in the event of having multiple Folios or multiple PINs.
It shall be the sole responsibility of the Unitholder to ensure adequate protection and the confidentiality of the user name and password as well as the Transaction PIN and any disclosure thereof to any other person shall be entirely at the Unitholders risk.
Access to the Facility
In order to access the Facility for the first time through the website, the Unitholder shall be required to create a unique login name (username) and password at the RMF web site. The User may thereafter, map his/ her profile by entering the Folio Number/s and the corresponding Transaction PIN. Once the profile has been mapped, in the manner described above, the User may then access the Facility by merely entering his unique login name and password at the RMF web site.
The Unitholder may access the following services using Transaction PIN, the user-name and password facility (hereinafter referred to as the "Facility"),
(A) Through Internet
(B) Through Telephone
- Subscription and Additional Subscription to various schemes of the Fund, including any new Schemes launched by the Fund from time to time and which are tagged with the existing Schemes by the Fund for the purpose of conducting such Online transactions.
- Switching between funds, including Systematic Transfer Plan.
- Redemption of units, including Systematic Withdrawal Plan.
- Change of Transaction PIN.
- Viewing and Printing of Account Statements, including facility to request for email / Fax back thereof .
- Account Balance & Current Value of Investments
- Last 5 transactions
- Transacting on investor's account *
- Changing Investor's Transaction PIN
*Facility not available at present.
The Unitholder hereby agrees and confirms that the services mentioned hereinabove are only an inclusive list, and the Fund may add or remove any services it may in its absolute discretion decide, which services the Unitholder may use the Transaction PIN Facility to access and utilise. In addition to the information and services mentioned above, the Unitholder may also, as and when the Facility is extended to other services provided by the Fund, use such Facility to access and utilise any such services provided by the Fund's Website or through Telephone.
RCAM will take best efforts to keep the Website updated on a daily basis so as to provide most current information to Unitholders. However, the Unitholder agrees that because of communications issues, it is possible that the site may not be current on certain occasions. The Unitholder also agrees that the look and feel of the Web screen and outputs therefrom may differ based on the nature of the software used by the Unitholder to browse the Website.
RCAM agrees to take best efforts to protect security of the data placed on the Internet and has for this purpose, required the web service provider engaged by the Registrar to sign a confidentiality agreement with the Registrar specifying confidentiality of the data and to restrict external access to the database on the Internet.
The Registrar shall ask the Unitholder for his/her/its user name and password and Transaction PIN or any other transaction specific details before accepting instructions on behalf of Fund.
The Fund / its Registrar may, in the interest of the Unitholder, request a fax confirmation of the instructions and any additional information the Fund may require. In such an event, the Fund shall not be bound to act on Electronic instructions received until the said fax confirmation and additional information is received from the Unitholder, in a form and manner acceptable to the Fund.
The Unitholder agrees that use of the user name or the password or the Transaction PIN will be deemed acceptance of the other Terms and Conditions as posted on the Website and the Unitholder will unequivocally be bound by such Terms and Conditions.
The Unitholder confirms and agrees that he shall at all times be bound by any modification and/or variations made to the other Terms and Conditions and as notified on the Website. The Fund shall not be required to give the Unitholder individually any separate notice of any of the modification and/or variations that have been notified on the Website.
RCAM or the Registrar shall have the absolute discretion to amend or supplement any of the Terms at any time and will endeavor to give prior notice on the website / through email for such changes wherever feasible.
The Fund / its Registrar may, in its absolute discretion decide not to carry out any such transaction where the Registrar or the Fund has reason to believe that the instructions are not genuine or are unclear or such as to raise a doubt or are otherwise improper and cannot be put into effect.
Neither RCAM nor the Registrar shall be liable for any unauthorized usage of the Transaction PIN & the Unit holder hereby fully indemnifies and holds the RCAM and the Registrar harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof. Further, neither the Fund, nor RCAM nor the Registrar shall be liable at all for any misuse if any, of any data accessed through the Call Center, by third parties.
Without prejudice to any other provisions of this Agreement, RCAM and Registrar Shall not be liable for any loss or damage whatsoever or howsoever caused arising directly or indirectly in connection with the Services and/or this Agreement, including
without limitation any:
- loss of data;
- interruption or stoppage to the Customer's access to and/or use of the Call Center
RCAM or Registrars shall not be responsible for any failure on part of the unit holder to utilize the facility due to the Unit Holder not being within the geographical range within which the Facility is offered.
RCAM or Registrars have the absolute discretion to withdraw/amend the services provided, or amend or supplement any of the above terms and conditions at any time without prior notice to the Unit holder.
The Unitholder agrees that use of the Facility will be deemed acceptance of the Terms and Conditions and the Unitholder will unequivocally be bound by these Terms and Conditions. The Unitholder shall, at all times, be bound by any modifications and/or variations made to these Terms and Conditions.
The Unitholder agrees, instructs and authorises the Fund, its Registrars or any other representative of the Fund to comply with all or any instructions given to the Fund through use of the facilities available on the site. Any instruction given to the Fund through use of the internet facility and through the Transaction PIN, User name, Password (hereinafter referred to as the "Instructions") shall be deemed to have been given by the Unitholder/s to the Fund/Registrar and the Fund/Registrar shall be entitled to assume that the said Instructions are given by the Unitholder and the Fund/Registrar shall be protected from acting thereon.
The Unitholder shall be fully responsible for confidentiality of the user name and password and shall not disclose his/her/its username and password to any person and shall take all possible care to prevent discovery of the user name and password by any person. The Unitholder shall not use his/her/its user name and password after the disclosure of the same to any third party. The Transaction PIN, login name and password shall be kept safe and the Unitholder shall ensure that the joint Unitholders do not disclose their Transaction PIN, login name or password to any other unauthorized person.
RMF or its Registrars shall be notified immediately, if a record of the Transaction PIN or password, is lost or stolen or if the User is aware or suspects that another unauthorized person has come to know of or has used his/her Transaction PIN or password without authority. Upon receiving a written request from the unitholder in such an event, RCAM/ its Registrars will cancel the Transaction PIN or password and arrange to issue a new Transaction PIN / Password in the interest of the unitholder.
The Unitholder shall take responsibility for all the transactions conducted by using the Facility and will abide by the record of transactions generated by RMF. Further such records generated by the Fund shall be conclusive proof and binding for all purposes and may be used as evidence in any proceedings.
The Unitholder shall be fully liable to the Fund for every transaction entered into using the Facility, whether with or without the knowledge of the Unitholder. In no event will the Fund or its agents be liable to the Unitholder for any special, direct, indirect,consequential or incidental loss or damages even if the Unitholder has advised the Fund or its agents of such possibility.
The Unitholder agrees that any transaction, undertaken using the Unitholder 's password shall be deemed to be that of the Unitholder . If any third party gains access to the Facility by using the Unitholder's password, the User agrees to indemnify RMF, RCAM and its directors, employees, agents and representatives against any liability, costs, or damages arising out of claims or suits by such other third parties based upon or related to such access or use.
The Unitholder shall be responsible for his/her own PC anti-virus and security measures to help prevent unauthorised access via the Facility to their transactions and bank accounts, and RCAM / its Registrar shall not be liable of any such unauthorised access.
The Unitholder undertakes to comply with all applicable laws and statutory requirements and agrees to be bound by and to diligently follow and ensure compliance with the applicable rules, regulations of RMF and the SEBI.
The Unitholder hereby releases the Fund and the Registrar from any liability whatsoever against misuse of the Transaction PIN, user name and password. Further, neither the Fund nor the Registrar shall be liable at all for any misuse if any, of any data placed on the Internet, by third parties "hacking" or unauthorized accessing the server. The Fund/Registrar will not be liable for any failure to act upon instructions or to provide any facility for any cause that is beyond the Fund/Registrars' control.
In the event of disclosure of the user name and password to any third party, the Fund may at its absolute discretion issue to the Unitholder a new Transaction PIN on these terms and conditions or under such terms and conditions as Fund may deem fit.
The Fund/Registrar may not acknowledge receipt of any instructions nor shall the Fund be responsible to verify any instructions.The Fund shall endeavor to give effect to instructions on a best effort basis and as soon as practically possible for the Fund,within the ambit of the regulations governing the Fund. In the event of any instructions being capable of execution in two or more ways, the Fund may execute the instructions in any way as it may, in its sole judgment decide.
The Unitholder agrees that the use of the facilities is not a secure method of transmitting information, and that the risk of any loss of information or interception of information by any third party will be borne by the Unitholder/s and that the Fund/Registrar shall not be liable for the same.
The Fund, the AMC, the Trustee, along with its directors, employees, agents, executors, successors and assigns shall not be liable for any damages or injuries arising out of or in connection with the use of the said Website and Call Centre or its non-use including non-availability or failure of performance, loss or corruption of data, loss of or damage to property (including profit and goodwill), work stoppage, computer failure or malfunctioning, or interruption of business; error, omission, interruption, deletion,defect, delay in operation or transmission, communication line failure or for any failure to act upon Electronic or Telephonic Instructions or to provide any facility for any cause that is beyond the control of the Fund or its Registrars.
All records of the Fund/Registrar, whether in electronic form, magnetic medium, documents or any other with respect to instructions received for use of the Facilities or Instructions received through use of the Facility shall be conclusive evidence of such instructions and shall be binding on the Unitholder.
In case of any discrepancy in the details of any transaction carried out in respect of the Unitholders' account, the Unitholder shall be obliged to intimate the Registrar/Fund within ten days of receipt of the statement of account or information thereof, failing which the transaction will be deemed to be correct and accepted by the Unitholder.
The Unitholder shall at all times indemnify the Fund, its officers, employees, successors and assigns from and against all actions, proceedings, claims and demands whatsoever for or on account of or in relation to any unauthorized use of the Transaction PIN, user name and password Facility and from and against all damages, costs, charges and expenses in respect thereof, unless the same is caused by gross negligence, bad faith or willful default on the part of the Fund.
No forbearance, delay or failure on part of the Fund to exercise any power or right under these terms and conditions shall operate as a waiver of such power or right, nor shall any single or partial exercise of such power or right preclude any further exercise of that or any other power or right.
The Scheme Information Document provided on the website set forth concisely, the information about the Schemes that an investor should know before investing. The particulars of the Schemes have been prepared in accordance with the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 as amended till date and filed with SEBI and the Units being offered for public subscription have not been approved or disapproved by SEBI nor has SEBI certified the accuracy and adequacy of the Scheme Information Document. The Scheme Information Document shall remain effective till a "Material Change" (other than a change in the fundamental attributes and within the purview of this Offer Documents) occurs and thereafter the changes shall be filed with the SEBI and circulated to the Users along with the quarterly / half-yearly reports. All Users of RMF's website are instructed that any information on it should be used in conjunction with traditional investment techniques, which may include obtaining applicable legal, accounting, tax or other professional advice or services. PI-AMC indemnifies itself from any omissions, errors or investment consequences arising from the use of this material by any User of the RMF's website.
The RMF / RCAM / its Registrar shall keep the information relating to the transactions of the Unitholder using the Facility confidential. Provided however that the Fund is entitled to disclose any information or particulars pertaining to the Unitholder to any authority, statutory or otherwise as may be required by law.
RCAM or its Registrar shall not sell or market any personal information or personalized data of its customers to unaffiliated organizations. RCAM shall maintain the User's personal information and data according to strict standards of security and confidentiality.
The Unitholder may terminate the Transaction PIN Facility by making an application (hereinafter referred to as "the said Application") to the Fund in writing and signed by him along with other Joint Holders, if the Unitholder wishes to terminate this Agreement and disable the Transaction PIN Facility. The Fund shall disable the User ID and the Transaction PIN Facility granted to such Joint Unitholders at any time within a period of 10 business days from the date of receipt of the said Application.
The Fund is authorised to terminate the Transaction PIN Facility without prior notice on the occurrence of any event, which in the sole opinion of the Fund, may have a Material Adverse Impact on the Designated Account, or on the operations of the Fund, including but not limited to:
- Non-compliance of the Terms and Conditions set out herein.
- Death, insolvency, bankruptcy or liquidation of the Unitholder.
- Any other cause arising out of operation of law.
- Closing of Unitholder's account.
- Such other reason(s) as the Fund may, in its sole and absolute discretion deem proper.
- Receipt of a written Application from a Joint Unitholder for termination.
For the purpose of interpretation, an event having a Material Adverse Impact shall include any event, which in the opinion of the Fund, shall impact the reputation of the Fund, its functioning, any potential losses to the Fund, any event which in the opinion of the Fund would amount to a fraud on the Designated Account, or any other event which the Fund may, in its absolute discretion,decide would have a material adverse impact on its operations.
Provided, however, that any Electronic Instructions received by the Fund, through the Transaction PIN Facility, or any Online Transaction executed by the Unitholder, before the termination of this Agreement and disabling of the Transaction PIN Facility shall be considered to be a valid instruction to the Fund to execute such Online Transaction.
GOVERNING LAW & JURISDICTION
This Agreement is governed by and construed in accordance with the laws of India. The Courts of Mumbai shall have exclusive jurisdiction over any disputes arising out of or connected with this dispute.
The Transaction PIN Facility and all the transactions carried out through the Transaction PIN Facility are subject to the terms and conditions of the Scheme Information Document of the schemes of Reliance Mutual Fund, read with the addenda issued from time to time.
Any dispute arising out of or in connection with these Terms and Conditions, will be referred to the arbitration of a sole arbitrator to be appointed by RCAM, in accordance with the Arbitration & Conciliation Act, 1996.
These Terms and Conditions are subject to Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 and guidelines issued there under as amended from time to time and other laws, rules and regulations issued by the Government of India relating to mutual funds and provision of the Transaction PIN facility.
Any notice, communication or documents required to be given by either Party to the other under the terms of this Agreement,may be given by personal delivery, registered post, by fax, or by other electronic medium as agreed by both parties from time to time, at the following addresses:
a) If to the Fund:
Reliance Capital Asset Management Limited
Trade World, 'B' Wing, 7th Floor, Kamala Mills Complex,
Senapati Bapat Marg, Lower Parel (West), Mumbai, 400013.
Telephone: +91 22 30414800 Fax: + 91 22 30414899 / 30414818
Attention: Investment Grievances Officer
b) If to the Unitholder – At the address of the Unitholder as recorded with the Fund.
The notice, communication or document shall be deemed to be effective if given by personal delivery when so delivered, if given by post on expiration of seven days after the notice, communication or document is delivered to the post office for onward despatch, if given by fax or telex upon transmission thereof. Provided that any notice, communication or document given by fax,shall be followed by a confirmation in writing
I/we confirm and declare that I/we have read and understood the "Terms & Conditions of Personal Identification (PIN) usage and Online transactions" and also the "Disclaimer & Terms and Conditions" as posted on Reliance Mutual Fund's website www.reliancemutual.com.
I/ we agree and shall abide by the norms, Terms & Conditions of Transaction PIN usage and online transactions, and agree not to hold Reliance Mutual Fund responsible for my/our actions relating to the use of the Transaction PIN Facility.