These terms and conditions (“Terms”) govern the access to and use of this mobile application and/or website (collectively “Website”) and the Services (defined below).
These Terms constitute a binding and enforceable legal contract between PB Financial Account Aggregators Private Limited (“Company”, “we”, “PB Financial”, “us”, or “our”) and any end user of the Services (“you”). You represent and warrant that you (a) have full legal capacity and authority to agree and bind yourself to these Terms, and (b) are eighteen years of age or older. 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. This document/agreement/ Terms is an electronic record in terms of Information Technology Act, 2000 and generated by a computer system and does not require any physical or digital signatures.
This document is published in accordance with the provisions of Rule 3 of the Information Technology (Intermediaries guidelines) 2011, that provides for the due diligence to be exercised for the access or usage of this Website.
These Terms also include our privacy policy, available at (“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 Website.
By using the Services, 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 Website or use the Services.
(a) “AA Master Directions” shall mean the Master Direction - Non-Banking Financial Company - Account Aggregator (Reserve Bank) Directions, 2016 as amended from time to time;
(b) "Services" refers to the account aggregation services provided by us following AA Master Directions which enables the following: (i) Retrieving, viewing, consolidating, organizing, and sharing Financial Information that is available with Financial Information Providers; and
(ii) Presenting your Financial Information collected from the Financial Information Provider to Financial Information Users.
(c)“Financial Information” shall have the same meaning ascribed to it in the AA Master Directions;
(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) “RBI” shall mean the Reserve Bank of India. 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) The services offered by us through the Website are referred to as “Services” (which term also includes the provision of the Website to you).
(b) 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, your Financial Information, sensitive personal information, etc., from Financial Information Providers. You also authorise us to hereby share your Financial Information, with your consent, with the Financial Information Users.
(c) We reserve the right to charge you for the Services in accordance with the applicable laws. Additionally, any fees in the future shall be levied prospectively and you will be provided a prior written notice in this case.
(a) To avail the Services, you will be required to create a profile on the Website (“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 Website 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 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.
(c) In case you are registering as a business or a corporate entity, you represent that you are duly authorised by the business or corporate entity as applicable to accept these Terms and you have the authority to bind that business or corporate entity to these Terms.
(d) 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 collect your personal information through our digital properties and in line with our Privacy Policy. Please go through our Privacy Policy for details.
(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 Providers.
(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.
(a) Notwithstanding anything to the contrary hereunder and in accordance with the AA Master Directions or other applicable laws and regulations, we do not store any Financial Information pertaining to you, except to the extent necessary to make the Financial Information available to you or, upon your consent, to a Financial Information User.
(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 contact information;
(ii) the nature of the information requested;
(iii) purpose of collecting such information;
(iv) the identity of the recipients of the information;
(v) the consent creation date, the date of expiry of the consent, and your signature/digital signature;
(vi) 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, a fresh consent artefact shall be shared with you for obtaining your consent. This new consent artefact shall then be shared with the Financial Information Provider.
(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 Website.
(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 and data pertaining to your use of the Services for analytics, trends’ identification, and statistics to further enhance the effectiveness and efficiency of the Website.
(g) 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 in such instances without seeking any further consent or approval from you.
PB Financial never publicly discloses personal or sensitive user data related to financial or payment activities or any government identification numbers and does not publish or disclose people's non – public information. The data collected may be shared with Employees on a need-to-know basis for completing the transaction initiated/requested by the User. Any personal information supplied by the User while using the Services may be stored and used by PB Financial following the organization's privacy practices.
(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. 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) use the Services to transmit any data or send or upload any material that contains viruses, malware, or any other harmful programmes or similar computer code designed to adversely affect the operation of any computer software or hardware;
(ii) use any robot, spider, other automated device, or manual process to monitor or copy the Website or any portion thereof;
(iii) engage in the systematic retrieval of content from the Website to create or compile, directly or indirectly, a collection, compilation, database, or directory;
(iv) use the Services in (A) any unlawful manner, (B) for fraudulent or malicious activities, or (C) in any manner inconsistent with these Terms; or
(v) 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 Website.
(f) You shall not attempt to gain unauthorised access to any portion or feature of the Website, any other systems or networks connected to the Website, to any of our servers, or through the Website, by hacking, password mining, or any other illegitimate means.
(g) By agreeing to the terms and conditions seen on this page, you also agree to the Account Aggregator Ecosystem Participation Terms of Sahamati (a self-organised Industry Alliance for the Account Aggregator ecosystem), which can be viewed at https://sahamati.org.in/participation-terms/. These terms govern your use of the Account Aggregator services, and you are requested to review these terms before recording your agreement.
(a) All rights, title, and interest in and to the Website and Services, including all intellectual property rights arising out of the Website and Services, 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 Website and Services 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 Website or Services from time to time (“Feedback”). We may freely use, copy, disclose, publish, display, distribute, and exploit the Feedback without any payment of royalty, acknowledgement, prior consent, or any other form of restriction arising out of your intellectual property rights.
(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.
User Signup confirmation is based on your confirmation of the authentication email sent to your registered email id /OTP sent to the registered mobile number. On registration, you are advised to change the password immediately during the first login and recommend maintaining the password in a secured manner.
a. PB Financial shall endeavour to provide Account Aggregator Services to the user through its Website, subject to Reserve Bank of India approvals from time to time. PB Financial, at its sole discretion, shall add /delete the services offered to the user through its Website.
b. Availing of the services through the Website is subject to the following conditions:
i. The user declares that he/she authorized or eligible to avail the Account Aggregator Services from PB Financial by authorizing his / her FIP to furnish the account information as per the user's direction.
ii. The user acknowledges that the agreement terms with their respective mobile phone/device network provider will continue to apply when using the Website. As a result, the user may be charged by the mobile phone/device network provider for access to network connection services for the duration of the connection while accessing the Website or any such third-party charges as may arise. The user accepts responsibility for any such charges that arise.
iii. The user accepts that transaction instructions entered on non-business days will be processed on the following business day.
iv. The user accepts that the information provided to the FIU’s through the Website may not be updated on a real-time basis. PB Financial shall not be liable for any loss that the user may suffer by relying on or acting on such information.
v. The user accepts that the use of the Website shall be subject to the terms and conditions of any applicable agreements between PB Financial and its service providers.
Any consideration for the services shall be based on the RBI regulations and Pricing Policy of PB Financial.
Based on the terms of service, the user is authorized to access Website. In case if the user allows any other person to have access to Website on behalf of the user, the user grants express irrevocable authority to PB Financial to act upon any instruction given by the user through Website as may be permitted from time to time and until valid termination of service by the user. PB Financial shall have no obligation to verify any request(s) received through Website or purporting to have been sent by the user via Website other than verifying the login credentials. The display shown at the time of operation of the Website in the mobile phone/device is a proof of record that the operation was made with the use of the mobile phone/device and shall not be construed as a final record of the transaction. The records maintained by PB Financial through computer systems are deemed final and conclusive, binding evidence for all purposes. Therefore, the user shall not share the access details or login credentials with others.
(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 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.
(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.
(a) We do not warrant the accuracy, suitability, or correctness of any Financial Information that is made available on or through the Services. PB Financial shall not be held liable for any accuracy, suitability, or correctness of any Financial Information. In this regard, you agree to indemnify and hold harmless PB Financial.
(b) The Website 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:
(i) the Website or the Services will meet your requirements or expectations, or that your use of the Services will be uninterrupted, timely, secure, or error-free;
(ii) any errors or defects in the Website 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 expressly agree and acknowledge that we shall have absolutely no liability in this regard.
(e) 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;
(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 to remain operational for any period of time.
(f) 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. To the maximum extent permitted by law, you agree to waive, release, discharge, and hold harmless us, our affiliated and subsidiary companies, their parent companies, and each of their directors, officers, employees, and agents, from any and all claims, losses, damages, liabilities, expenses and causes of action arising out of the Services.
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 Services, your violation of any law, or the rights of any third party, use of the Services, violation of these Terms or any infringement of these Terms by any third party who may use your Profile to access the Services.
You expressly understand and agree that the PB Financial (including its subsidiaries, affiliates, directors, officers, employees, representatives and providers) shall not be liable for any direct, indirect, incidental, special, consequential or exemplary damages, including but not limited to damages for loss of profits, opportunity, goodwill, use, data or other intangible losses, even if Company has been advised of the possibility of such damages, resulting from (i) any failure or delay (including without limitation the use of or inability to use any component of the Website), or (ii) any use of the Website or content, or (iii) the performance or non-performance by us or any provider, even if we have been advised of the possibility of damages to such parties or any other party, or (b) any damages to or viruses that may infect your computer equipment or other property as the result of your access to the Website or your downloading of any content from the Website. Notwithstanding the above, if the Company is found liable for any proven and actual loss or damage which arises out of or in any way connected with any of the occurrences described above, then you agree that the liability of Company shall be restricted to, in the aggregate, any Service/transactional fees paid by you to the Company in connection with such transaction(s)/ Services on this Website, if applicable.
The Company has no control over the third party websites which would be provided to you through its Website. You acknowledge and agree that under no circumstance shall the Company be liable for your using the services offered or provided by any third party service provider.
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.
(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 Gurugram 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 Gurugram 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.
(a) If case of any grievance please refer to our Grievance Redressal Policy ;
(b) 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:
Name: Ranjeet Kumar Jha
Email Address: ranjeet@pbfintechaa.com
Phone: +919811006657
Registered Address: Plot 119, Sector 44, Gurugram, Haryana-122001
(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 support@pbfintechaa.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.
(g)Translations: We may provide you with translated versions of these Terms solely to assist you with understanding these Terms in greater detail. The English version of these Terms shall be controlling in all respects. 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.