In this document the following words and phrases shall have the meanings as set below unless the context indicates otherwise:

           "Bank" refers to THE KARUR VYSYA BANK LIMITED, a Scheduled Commercial Bank, incorporated under the Indian Companies Act, 1913 having its Registered Office at Central Office, Erode Road, Karur, Tamil Nadu 639 002, (hereinafter referred to as "Bank" which expression shall unless the context otherwise requires be deemed to include its associates, subsidiaries, nominees, representatives, successors-in-interest and permitted assigns)

           The term "kvb@net" shall be a proprietary mark of the Bank which provides access through the internet to account information, account transaction, other products and services as advised by the bank from time to time to the bank's customers.

           "USER" refers to a registered Customer of the Bank and would need to be a current Internet user or have legal access to the Internet. Further, you must be a resident citizen of India, or otherwise permitted under Indian law to maintain a current account in India, in accordance with the provisions of the Foreign Exchange Management Act,1999, and the regulations framed hereunder.

           "kvb@net account" refers to the user's savings and/ or current account and/ or fixed deposit account and/or any other type of account so designated by the bank to be eligible account(s) for operations through the use of kvb@net. One of these accounts will be designated as primary account. All other accounts (if any) of the user will be called secondary account(s). The user should be either the account holder or sole signatory or authorized to act alone when there is more than one signatory. An account in the name of a minor or an account, in which a minor is a joint account holder, or a trust account or an escrow account, is not eligible to be a kvb@net account.

           Personal information refers to the information about the user obtained by the bank in connection with the kvb@net service or for any other services.

Terms refer to terms and conditions for use of kvb@net as specified in this document.

           In this document, all references to the user/customer being referred in masculine gender will also include the feminine gender.

           The terms Internet Banking & kvb@net mean the same thing throughout the context of this document and could be used interchangeably.

           These TERMS form the contract between the USER and the BANK. By applying for kvb@net account and accessing the service the USER acknowledges and accepts these TERMS. These TERMS will be in addition to and not in derogation of the terms and conditions relating to any account of the customer.

           The Bank may offer kvb@net services to selected customers at its discretion and has the right to accept or reject such application as may be submitted by the users. The Customer acknowledges that he/she possesses knowledge of the Internet usage and will have legal access to the Internet.

           Customers willing to utilize the kvb@net services may approach the Branch of the Bank, where their account is maintained or willing to open their account, in person for registering themselves. Alternatively they can also download the application from the Website www.kvb.co.in , fill up and produce the same in person at the branch where the account is maintained.

           The acceptance of the registration and the acknowledgement thereof does not automatically imply the acceptance of application for Internet Banking Services by the Bank.

           The BANK will advise from time to time the Internet software such as Browsers, which are required for using kvb@net. There will be no obligation on the BANK to enable the access to the kvb@net services through any and all browsers, or any versions thereof.

           The information provided to the user through the Internet Banking is not updated continuously but at regular intervals. Consequently, any information supplied to the user through Internet Banking will pertain to the date and time when it was last updated and not as the date and time when it is supplied to the user. The Bank shall not be liable for any loss that the user may suffer by relying on or acting on such information.

           The Bank may keep its records of the transactions in any form it wishes. In the event of any dispute, the Bank's records shall be binding as the conclusive evidence of the transactions carried out through Internet Banking in the absence of clear proof that the Bank's records are erroneous or incomplete.

           Any request for any service, which is offered as a part of Internet Banking, shall be binding on the user as and when the Bank receives such a request. If any request for a service is such that it cannot be given effect to unless it is followed up by requisite documentation on part of the user, the Bank shall not be required to act on the request until it receives such documentation from the user.

           In case of any request for a service relating to any foreign currency transaction made by the user, the exchange rates quoted by the Bank shall only be provisional and shall be subject to future variations in the exchange rate. The rate at which the transaction is given effect to would be the effective rate for all intents and purposes. The Customer shall also abide by the Regulations framed under the FEMA and such other guidelines prescribed by the Reserve Bank of India and other Governing Bodies.

           The USER understands that the BANK shall be bound by any circulars and directives issued by the Reserve Bank of India with regard to the maintenance and operation of deposit accounts from time to time. The USER acknowledges and undertakes to be equally bound to comply therewith.

           The USER also hereby absolves and holds blameless the BANK from any claim or damages in respect of any delay on the part of the BANK in carrying out any instructions given by the USER over the internet, where such delay is on account of technological failure, or other reasons beyond the control of the Bank. In cases of technological failure, the Bank shall endeavour to keep the downtime to the minimum.

           The user shall take all necessary precautions to prevent unauthorized and illegal use of kvb@net and unauthorized access to the Accounts provided by Internet Banking. The Bank shall take all commercially reasonable care to, ensure the security of and to prevent unauthorised access to the Internet Banking using commercially reasonable technology available in India to the Bank.. The USER shall also be responsible for maintenance of the secrecy of the personal details of the ACCOUNTS at all times. If the USER fails to keep secret such personal details of the ACCOUNT, then, the BANK shall stand absolved of all obligations under this AGREEMENT. The user shall ensure that kvb@net service or any related service is not used for any purpose which is illegal, improper or which is not authorised under these Terms.

           If any USER has any reason to believe that there is any unauthorized access of his or her ACCOUNT, the USER shall forthwith intimate the BANK. The USER understands and recognizes that in matters of unauthorized access, time is of the essence, for speedy detection and prevention. Therefore, any failure on the part of the USER to speedily notify the BANK, shall absolve the BANK of any further responsibility with respect to such unauthorized access.

           For Retail users, Internet Banking user-id and password can be created under self-service mode through available option in the Internet Banking login page. With respect to Corporate users, the user would be allotted an Internet Banking user-id and a set of secret passwords by the Bank in the first instance. The user will be required to change the password assigned by the Bank on accessing Internet Banking for the first time. As a safety measure, the users (Retail & Corporate) shall change the password as frequently thereafter as possible. In addition to user-id and password the Bank may, at its discretion, advice the user to adopt such other means of authentication including but not limited to crypto-key systems, digital certification and/ or smart cards. The user shall not attempt or permit others to attempt accessing the Account information stored in the computers of the Bank through any means other than as envisaged herein.

           The user acknowledges that he / she is the sole and exclusive owner and is the only authorised user of the user credentials and accepts sole responsibility for use, confidentiality and protection of the credentials, as well as for all orders and information changes (i.e., change of address) entered into Accounts using such credentials.

           The user grants express authority to the Bank for carrying out transactions and instructions authenticated by such user credentials. The user unconditionally undertakes to have Internet Banking password of such number of letters/digits as may be notified by the Bank from time to time and ensure that the same is kept confidential; and to not let any unauthorised person have access to the internet while the user is accessing the Internet Banking. If the user forgets the Internet Banking password, the user may request for the issue of a new password by sending a written request to the Bank and this shall not be construed as the commencement of a new contract.

           The Bank shall have no obligation to verify the authenticity of any transaction / instruction received or purported to have been received from the user through Internet Banking or purporting to have been sent by the user other than by means of verification of the Internet Banking user-Id and the password.

            The user agrees and acknowledges that the Bank shall in no way be held responsible or liable if the user incurs any loss as a result of information being disclosed by the Bank regarding his Account(s) or carrying the instruction of the user pursuant to the access of the Internet Banking and the user shall fully indemnify and hold harmless the Bank and the affiliates in respect of the same. The user shall maintain the secrecy of all information of confidential nature and shall ensure that the same is not disclosed to any person voluntarily, accidentally or by mistake. The USER shall comply with such guidelines, instructions or terms as the Bank may prescribe from time to time with respect to the password.

           In case of Joint Accounts, transactions through kvb@net accounts, shall be available if the mode of operation is indicated as "either or survivor" or "anyone or survivor". The user desirous of using the kvb@net account should be either the account holder and sole signatory or authorized to act independently in case of a joint account. For such joint account, one user-ID and password will be issued to each of the joint account holders when requested. The other joint account holders shall expressly agree with the arrangement and give their consent on the application form for use of the kvb@net account. In case of joint accounts operated by more than one user, the Bank shall act on the instruction received first and any subsequent instruction shall be neglected. All correspondence will be addressed to the first named person only. All transactions arising from the use of the kvb@net services in the joint account shall be binding on all the joint account holders, jointly and severally.

           The Bank reserves the right to charge and recover from the user service charges for providing the kvb@net services. The user hereby authorizes the Bank to recover the service charges by debiting one of the kvb@net accounts of the user or by sending a bill to the user who will be liable to make the payment within the specified period. Failure to do so shall result in recovery of the service charges by the Bank in a manner as the Bank may deem fit along with such interest, if any, and/or suspension of the facility of kvb@net services without any liability to the Bank.

           The USER shall maintain, at all times such minimum balance in kvb@net account(s) as the BANK may stipulate from time to time. The Bank may, at its discretion, levy penal charges for non-maintenance of the minimum balance.

            In addition to the minimum balance stipulation the Bank may levy service charges for use of kvb@net, which will be advised to the USER at the time of opening the account, and also be published on the Web site of the BANK. Any further change in the fees shall be notified on the BANK's Web site 15 days in advance of the changes taking effect. The USER authorises the BANK to recover all charges related to kvb@net as determined by the BANK from time to time by debiting one of the USER's kvb@net accounts. However at present there are no charges levied.

           The BANK may withdraw the kvb@net facility, if at any time the amount of deposit falls short of the required minimum as aforesaid and/or if the service charges remain unpaid, without giving any further notice to the USER and/or without incurring any liability or responsibility whatsoever by reason of such withdrawal.

           The BANK shall not be obligated to intimate the withdrawal of such facility over the internet.

           The BANK shall have the right to set-off and lien, irrespective of any other lien or charge, present as well as future, without any prior notice, on the deposits held in the USER's Primary Account and/or Secondary Account(s) or in any other account, whether in single name or joint name(s), to the extent of all outstanding dues, whatsoever, arising as a result of the USER accessing kvb@net service. The Bank shall not be obligated to intimate the USER prior to any such exercise of lien.

           The User accepts that he will be responsible for keying in the correct account number for the fund transfer request. In no case, the Bank will be held liable for any erroneous transactions incurred arising out of or relating to the customer entering wrong account numbers.

           The User shall not attempt to transfer funds without sufficient funds in the related Account or without a pre-existing arrangement with the Bank for the grant of an overdraft. The Bank may, at its sole discretion, decide to carry out the instructions notwithstanding inadequacy of funds (or credit facilities). The Bank may, at its sole and absolute discretion, do the aforesaid without prior approval from or notice to the User and the User shall be responsible to repay with interest the resulting overdraft, advance or credit thereby created and all related charges arising thereby and interest on the excess amount, at such rates as the Bank may in its sole discretion levy.

           In case of insufficient funds, Bank is not responsible for non-execution /non-payment/breakage of fixed deposit accounts of the Accounts linked to the subject Account or of any consequences thereof. The User shall abide by the FEMA rules and procedures prescribed by the Bank, failing which the Bank, in its sole discretion shall be entitled to refuse transaction/reverse entry and recover such costs or claims as it may incur.

           The Bank shall not be liable for any omission to make all or any of the payments or for late payments due to circumstances beyond its reasonable control. If the funds transfer is made available to the User, it may be used for transfer of funds from the subject Account to other accounts belonging to third parties maintained at the Bank and/or at any other Bank which falls under the network of the Reserve Bank of India's Electronic Funds Transfer System.

           The USER shall abide by such instructions as the BANK may issue from time to time with regard to issuance of "Stop Transfer" instructions. The USER recognizes that transfers of funds by use of the kvb@net account is usually instantaneous, and therefore, the BANK undertakes no obligation whatsoever to give effect to any "Stop Transfer" instructions, and shall receive such instructions only on a reasonable -efforts basis.

The USER agrees that the BANK or its contractors may hold and process his PERSONAL INFORMATION on computer or otherwise in connection with kvb@net services as well as for statistical analysis and credit scoring. The USER also agrees that the BANK may disclose, in strict confidence, to other institutions, such "PERSONAL INFORMATION" as may be reasonably necessary for reasons inclusive of, but not limited to, the following:

• For participation in any telecommunication or electronic clearing network
• In compliance with a legal directive
• For credit rating by recognised credit scoring agencies
• For fraud prevention purposes

           The USER shall also be liable, upon request by the BANK in this regard to present himself or herself in person before the concerned branch of the BANK, when any personal verification is found necessary by the Bank.

           Neither the Bank nor the Affiliates shall be liable for any unauthorised transactions occurring through the kvb@net and the user hereby fully indemnifies and holds the Bank and the Affiliates harmless against any action, suit, proceeding initiated against it or any loss, cost or damage incurred by it as a result thereof.

           The Bank shall under no circumstance be held liable to the USER if the kvb@net is not available in the desired manner for reasons including but not limited to natural calamities, legal restraints, faults in the telecommunication network or network failure, or any other reason beyond the control of the Bank. Under no circumstances shall the Bank be liable for any damages whatsoever whether such damages are direct, indirect, incidental, consequential and irrespective of whether any claim is based on loss of revenue, interruption of business or any loss of any character or nature whatsoever and whether sustained by the USER or by any other person.

           The Bank's aggregate liability for claims relating to the kvb@net services, whether for breach in contract or in tort (including but not limited to negligence) shall be limited to the transaction charges/fees or consideration paid by the user during the previous twelve months for kvb@net services, excluding any amount paid towards the transactions.

           Illegal or improper use of the Internet Banking shall render the user liable for payment of financial charges as decided by the Bank or will result in suspension of the operations through the kvb@net - Internet Banking.

           The USER hereby agrees to indemnify and keep indemnified, the Bank, its directors, its officers, its employees and agents from all loss, liability, claims, demands, judgments and expenses arising out of or in any way connected with the usage of the Site or as a consequence of the Bank's execution of the User's instructions or by reason of providing the kvb@net services for any act or omission by the Bank on the instruction of the User . This indemnification is provided without regard to whether Bank's claim for indemnification is due to the use of the Site or any permitted services by you or your authorized representative or anyone else whatsoever.

           The User further agrees to indemnify and keep indemnified the Bank in respect of any claim, suit, action or proceeding brought against the Bank by a third party to the extent that such claims, suit, action or proceeding is based on or arises in connection with (i) violation of the Terms contained herein; (ii) unauthorized user of the kvb@net services; (iii) any misrepresentation or breach of representation or warranty made by the user; or (iv) breach of any covenant or obligation of the user.

           The Bank has the absolute discretion to amend or supplement any of the terms at any time without notice. Changed terms and conditions shall be effective immediately on being uplinked and the USER agrees and shall be deemed to have accepted the changed terms and conditions.

           The grant of facility of kvb@net to a USER is not transferable under any circumstances and shall be used only by that USER.

           The User may request for termination of the kvb@net facility any time by giving a written notice of at least 15 days to the Bank. The User shall remain responsible for any transactions made on his kvb@net account(s) through kvb@net prior to the time of such cancellation of the Service.

           The BANK may withdraw the kvb@net facility anytime provided the USER is given reasonable notice under the circumstances. If the kvb@net service is withdrawn by the BANK for a reason other than the breach of the terms and conditions by the USER, the Bank's liability shall be restricted to the return of the annual charges, if any, recovered from the USER for the period in question.

            The closure of all kvb@net accounts of the USER will automatically terminate the kvb@net service. The Bank may suspend or terminate kvb@net facilities without prior notice if the USER has breached these terms and conditions or the Bank learns of the death, bankruptcy or lack of legal capacity of the USER.

Notices under these Terms and Conditions may be given by the BANK and the USER, electronically to the mail box of either party. Such notices will be regarded as being in writing, delivering them by hand or by sending them by post to the last address given by the USER and in the case of the BANK to the address mentioned below:

The Karur Vysya Bank Ltd,
Operations Department,
Central Office, Erode Road,
Karur - 639 002

           In addition, the BANK may also publish notices of general nature, which are applicable to all USERS of kvb@net on its web site. Such notices will have the same effect as a notice served individually to each USER. The BANK may also broadcast its notices via the BULLETIN option of kvb@net services.

           The Bank shall make reasonable efforts to advise from time to time the Internet software such as browsers which are required for availing of the kvb@net services. There will be no obligations on the Bank to support all or any versions of the internet software as may be required for offering the kvb@net services. The user acknowledges that the software underlying the kvb@net services as well as other internet related software which are required for accessing the services are the legal properties of the respective vendors. The permission given by the bank to access the kvb@net services will not convey any proprietary or ownership rights in such software. The User shall not attempt to modify, translate, disassemble, de compile or reverse engineer the software underlying the kvb@net services or create any derivative product based on the software.

           All Accounts shall be governed and be subject to laws of India and guidelines as may be issued by Reserve Bank of India from time to time. The Courts of the city in which the branch of the Bank in which the Account is/was opened shall have the exclusive jurisdiction and the User and the Bank unconditionally submit to jurisdiction of those courts. Notwithstanding the above this shall be without prejudice to the Bank also having the right to bring /file a claim in any other court or judicial forum at any other jurisdiction in India or outside India and the User hereby consents to that jurisdiction. The position or decision as that the Bank may take on anything related to the Account shall also be final and cannot be disputed by the Customer under any circumstances.

            Any provision of the Terms for kvb@net services which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of prohibition or unenforceability but shall not invalidate the remaining provisions of the Terms or affect such provision in any other jurisdiction.

           Tax will be deducted at source, if the Customer's interest income in any financial year exceeds threshold amount prescribed. Interest income will be a summation of interest earned and accrued on all fixed deposits in the Customer's name as the primary Account holder. Bank at its discretion shall be entitled to deduct Tax at source on interest payable to the Customer on accrual basis or on the basis of actual payment and interchange the same. The rate at which the tax will be deducted will be as per applicable/governing laws.

            In the event if the Customer requires that no tax is required to be deducted on the interest payable by the Bank to him, Customer shall submit such Form as is prescribed by the Income Tax authorities or Income Tax Rules. If the Customer does not submit the prescribed Form for any one of the Fixed Deposit, the Bank shall be entitled to deduct tax on interest on all the fixed deposits.

           The clause headings herein are for only for convenience and do not affect the meaning of the relative clause. The Bank may sub-contract and employ agents to carry out any of its obligations under this contract. kvb@net service may be available to the users in certain cities only and during timings specified by the Bank from time to time and transactions would be carried out on the same day or on the next working day depending upon the time of logging of the transaction. The user would have to ensure that the equipment used for availing of Internet Banking meets the criteria as may be specified by the Bank from time to time. All costs incurred by the user including telecommunication costs to use the kvb@net service would be borne by the user.