These terms and conditions for Connected Banking Services (“Terms”) of
Navmaya Tech Services Private Limited, a company incorporated under the provisions of the
Companies Act 1956, having its registered office at 331-336, Raheja Arcade, Koramangala,
Bengaluru – 560 095 and (“Navmaya”, “we”, or
“us” or “our”, which includes the holding company – Tally
Solutions Private Limited, its group companies, subsidiaries, associate and affiliates),
governs your (“User” or “you” or “your”
or “yours” which shall mean and include the owners / license holders of
TallyPrime or any person authorised by the owner and / license holder to use the Services)
use and access of the Connected Banking Services (“Services” which is more
detailed hereunder ).
Please read these Terms carefully as they are an electronic record in terms of the
Information Technology Act, 2000 and rules thereunder as applicable and as amended from time
to time.
These Terms form an integral part of and shall be read in conjunction with the privacy policy
hosted at
https://tallysolutions.com/connected-banking/privacy-policy/.
By accessing and using our Services, you agree to the following terms and conditions.
1. Eligibility
To use our Services, you must:
- Have the legal capacity to enter into a binding agreement.
- Use the Services in compliance with all applicable laws and regulations.
2. Definitions
-
“Bank” or “Banking Partner”: Refers to any bank or financial
institution that is licensed and regulated by the Reserve Bank of India (“RBI”), which
we have partnered with for offering the Services.
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“Bank Account”: Shall mean an account you hold and operate with a Bank.
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“Electronic Instruction(s)”: Shall mean any communication, instruction,
order, message, data, or information received by us from you or your users via the
Services or pursuant to the Service.
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“ERP Aggregator Platform”: Shall mean and include a secure intermediary
cloud-based back-end platform developed and owned by Navmaya, facilitating connected
banking services to its users by integrating with Banks. It enables seamless data
exchange and secure User access for service interactions between TallyPrime as the User
application and the Bank’s systems.
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“Services”: Shall mean and include the connected banking services that
we enable for you through the ERP Aggregator Platform (defined above) in collaboration
with our Banking Partners. The Services enable you, including but not limited to,
sending payment instructions to the Bank, receiving status updates, requesting and
receiving account information details such as available balance, getting bank
statements, fetching existing Beneficiary details with the Bank, and sending automated
payment advice to Beneficiaries via electronic modes.
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“Transaction”: Shall mean any transaction or operation made, performed,
processed, or effected pursuant to an Electronic Instruction or otherwise through the
Services by you or users authorized by you.
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“Tally Software Services” or “TSS”: Shall mean and include the
subscription for a bundle of services including the Services, which adds value to your
TallyPrime by providing you with the latest developments in technology and statutory
laws.
-
“ERP Client Software” or “TallyPrime”: Shall mean the accounting and
business management client software developed and owned by Tally Solutions Private
Limited, designed to assist businesses in managing their accounting, compliance,
inventory, and financial operations. Users purchase the software off-the-shelf, and it
is deployed locally on the User’s premises, server, or other designated environments.
3. Scope of Services
-
To use the Services, you must operate through a valid license of TallyPrime, which has
an active TSS subscription and has been allocated sufficient rights to use the Services.
To access the Services, you must use your existing or create a new Tally.Net User ID
linked to your email and provide your mobile number as an additional form of
authentication.
-
TallyPrime is a client software, and all the data generated or managed through
TallyPrime is under your exclusive control. You must ensure to use the genuine version
of TallyPrime. It is your duty to keep your TallyPrime version updated with the latest
versions. Any deployment of extensions or external add-ons on TallyPrime shall be your
sole responsibility.
-
You shall bear all costs associated with your subscription to the TSS and shall comply
with the prevailing terms and conditions governing such subscription.
-
By availing the Services, you are provided with the option to link your existing Bank
Account on the ERP Aggregator Platform. We have partnered with Banks to facilitate these
Services. The list of Banks that can be linked on the Services will be available to you
on the ERP Aggregator Platform from time to time.
-
To enable the Service, you must authenticate with the Bank for linking your Bank Account
on the ERP Aggregator Platform. Once linked, you will be able to access integrated
banking features on the Services, such as receiving your balances and statements,
initiating and processing Transactions across all your linked Bank Account(s), and
sending automated payment advices via electronic means to your beneficiary for
confirmation of payments executed and invoices settled.
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The ERP Aggregator Platform and the Service shall only act as a facilitator enabling the
initiation of payment instructions from the User to the Bank. The payment instructions
shall be authorized by the Bank, subject to verification, approval, and authentication
of the User with their Bank credentials.
-
We may not activate the Services for you if we are of the view that there is any
discrepancy, ambiguity, or contradiction in information submitted to us.
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You should note that we do not provide legal, tax, or financial advice. All Transactions
undertaken shall be at your discretion.
-
The Services may be availed and operated either by you or any individual authorized by
you. You should exercise care while granting usage rights to such users to ensure your
interests are adequately protected. The user of the Service may be independent of the
TallyPrime license holder. Each user shall be permitted to use the Services after
acceptance of these Terms and completion of verification, approval, and authentication
by the Banking Partner.
-
Only Users with authorization from the Bank shall be permitted to avail of the Services
and initiate Transactions (as per limits set by you or the Bank). All Transactions shall
be authorized in accordance with terms, conditions, and mechanisms set out by the Bank.
4. Electronic Instructions
-
We shall act upon all Electronic Instructions sent by you via the Services, if received
by our system hosting the Services. We shall treat all Electronic Instructions initiated
in the Services as instructions authorized by you and shall be binding upon you.
-
We may however choose not to process an Electronic Instruction (or may not process such
Electronic Instruction in a timely manner) if we have reason to suspect that there is
any error, fraud, or forgery, or if we are of the view that it is inaccurate or
incomplete.
-
All responsibility under this clause for safe and accurate transmission of Electronic
Instructions shall be with the User.
5. Temporary Suspension
We may, upon notice to you, suspend your or any of your user’s right to access or use the
Services immediately, if we reasonably determine that:
-
Such use:
- Poses a security risk to the Services or any third party,
- Could adversely impact our systems, or the Services,
- Could subject us, our affiliates, or any third party to liability,
- Could be fraudulent,
- Is in material breach of these Terms, or
- Is in violation of applicable laws, rules, and regulations.
- We have been directed or are in receipt of an order/notice from a regulatory body,
government authority, court, judicial, or quasi-judicial body to restrict the provision
of Services.
- You are in breach of your payment obligations under clause 6.
-
Such suspension has been triggered by our Banking Partner or we have been directed by
our Banking Partner to revoke access to the Services.
-
There have been multiple attempts or incorrect passwords or OTPs to access the User
account or Bank Account.
-
You have ceased to operate in the ordinary course, made an assignment for the benefit of
creditors or similar disposition of your assets, or become the subject of any
bankruptcy, reorganization, liquidation, dissolution, or similar proceeding.
6. Fees and Payments
Availing our Services may be subject to payment of applicable fees. This will be
communicated upfront to you on our platform from time to time. In the event your Bank levies
any charges on the Transaction, the same shall be communicated to you by your Bank.
7. Data Privacy and Security
- We are committed to safeguarding your personal information and strictly adhere to all
the applicable data privacy laws and regulations.
-
We undertake that the data shared via the Services are securely stored and transmitted,
subject to applicable regulations. Further, we implement the best practices in data
security for any information exchanges with our Banking Partners.
-
Additionally, we may place necessary restrictions on the Services, as we may deem
appropriate, for mitigating any risks and safeguarding the Services.
8. User Responsibilities
-
When using or accessing the Services, you agree that you:
- Will maintain the confidentiality of, and restrict access to and use of your
account, password, and accept responsibility for all activities that occur under
your account.
- Will validate and take responsibility for the information provided in the
Services.
- Will immediately notify us and the Bank of any unauthorized use of your
password, account, incorrect or unauthorized payment, or any other breach of
security (whether suspected or otherwise).
- Will update, remove, or delink your Bank Account from the Services in case of
any modifications to the Bank Account login credentials and/or change in access
to your Bank Account.
-
Will ensure to update the Bank and us on any change in User credentials, contact
details, or any users authorized to access the Services. It is the User’s sole
responsibility to take corrective measures and ensure access to the Services is
available only to authorized users; failing which, the liability of unauthorized
Transactions will reside with the User.
- Will provide true, accurate, current, and complete information about yourself
and your use of the Services as required by us.
- Will not use the Services for any unlawful or fraudulent purposes.
- Will comply with all applicable laws and regulations.
- Will cooperate with our requests for information with respect to your
eligibility and use of the Services.
- Give us your explicit consent to:
- Retrieve, collate, and/or aggregate your information while you use the
Services.
- Transmit your information to the relevant Banking Partner for the
purpose of providing the Services.
-
You will set up and maintain your own system and other facilities for accessing and
using the Services, including the security arrangements protecting such system and other
facilities from unauthorized access or use.
-
You agree for the Service to send automated emails on your behalf to
suppliers/beneficiaries, based on information received during payment initiation and
payment completion status from the Bank.
-
You further agree:
- To ensure authorizations and authentications of all Transactions are undertaken
after your review of payment information followed by OTP validation or direct
approval on the Bank platform.
- That you are fully entitled to use the linked Bank Account for Transactions.
- To ensure the accuracy of Bank Account details provided by you.
- To authorize debit of the linked Bank Account for facilitating Transactions.
- To ensure sufficient credit is available in the linked Bank Account during
payments.
- To verify and rely on the Transactions executed, as visible on your Bank portal
and account statement.
9. Confidentiality
-
For the purposes of these Terms, “Confidential Information” means any non-public
information relating to the Services (including our Intellectual Property Rights, trade
secrets, know-how, formulas, source code, inventions) disclosed to you or in your
possession.
-
You will maintain confidentiality and not release, alter, disclose, or copy such
Confidential Information without our prior written consent. Take utmost precautions to
protect the confidentiality of such information.
10. Intellectual Property
-
All content, software, and technology used in providing the Services are the property of
Navmaya Tech Services Private Limited and its affiliates.
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You are granted a limited, non-exclusive, non-transferable license to use the Services
solely for accessing and using them.
-
The IPR should not be reverse-engineered, copied, reproduced, distributed, transmitted,
or otherwise exploited without our prior written consent.
11. Third-Party Services
- Our Services may provide links to third-party services or content. We do not endorse,
control, or assume responsibility for any third-party services.
- b. Third-Party services may be used by you at your discretion. Third-Party services are
governed by independent terms and conditions accompanying such Third-Party services and
it
is advisable that you review them and use your best judgement before availing such
third-party services.
12. Navmaya obligations
- It is clarified that the confidentiality of your Bank Account information would be
maintained. We are only acting as a facilitator who retrieves your Bank Account
information
from your Bank based on your Electronic Instruction and consent and make it accessible
to
you.
- In processing your Transactions through the Services, we shall be entitled to rely
upon
all communications, orders or messages sent to us. We shall not be obligated to verify
or
make further inquiry into the identity of the sender, or the message integrity, of any
communications, orders or messages.
- In the event of any failed transactions, disputed transactions, refunds or any other
issues with the Transaction, you should reach out to your Bank. To the extent possible,
we
will provide you with all reasonable assistance and relevant information to help you
communicate with your Bank with regards to such Transactions.
- Since our Services are dependent on third parties and our Banking Partners, we do not
guarantee any minimum uptime for the Services. We will endeavour to ensure that access
to
and availability of the Services remains uninterrupted and error free. However, we will
make
all reasonable efforts to notify if the Services are unavailable on account of repairs,
maintenance, and downtime of Banking Partners platform. In the event the Services
becomes
inaccessible due to any break-down or other reasons, you should utilize the Bank's
existing
channels.
13. Limitation of Liability
- The Services are provided on an as-is and as-available basis. We expressly
disclaim all
warranties of any kind, whether express or implied, including, but not limited to, the
implied warranties of merchantability and fitness for a particular purpose.
- We and our Banking Partners disclaim all warranties, conditions and representations
of
any
kind, whether express, implied or collateral, including, but not limited to the Services
being secure or error free or will operate without interruption or will be provided in a
timely or proper manner or at all.
- You acknowledge there are certain security, transmission error and availability risks
associated with using the Services and agree, to assume such risks.
- To the maximum extent permitted under applicable law, you acknowledge and agree that
we
are not liable to you for:
- any indirect, consequential, special or punitive loss or damage arising from the
provision of the Services, whether arising based on a claim in contract, tort
(including
negligence), breach of statutory duty or otherwise; and
- any losses, damages, costs or expenses (whether direct or indirect, and whether
foreseeable or not) which you may suffer or incur, whether arising based on a
claim in
contract, tort (including negligence), breach of statutory duty or otherwise,
arising
from -
- any unavailability of the Services; or
- your access or use or your inability to access or use the Services; or
- any failure to receive or delay in receiving instructions because of any
failure
of your
system or other facilities or the telecommunication links used to
transmit the
Electronic Instructions; or
- any inaccurate or incomplete information about your Bank Account
information
such as
balances, account statement, payment status, etc.; or
- duplicate Transactions or system errors resulting in payment being
initiated
twice; or
- any wrongful amount being debited or credited from your Bank Account on
account
of
unauthorized or incorrect instruction executed by you; or
- any delay where the contents of an Electronic Instruction are ambiguous,
incomplete or
otherwise inaccurate; or
- any unauthorised use, loss of data, modification or tampering of the
security
mechanism,
or the Services; or
- any breach of security or unauthorised use of the Services, or
transmission
error
associated with, your system or other facilities; or
- any act or omission of telecommunications carriers, internet service
providers
or any
other third-party service provider or sub-contractor of the Bank; or
- the exercise of any of our rights under these Terms; or
- our reliance on such information submitted to us via the Services; or
- any loss of revenue or business opportunities, loss of profit, loss of
anticipated
savings or business, loss of data, loss of goodwill or loss of value of
any
equipment
including software; or
- any failure to comply with these Terms where such failure is due to
circumstances beyond
our reasonable control.
14. Indemnification
You agree to keep us indemnified and hold harmless from and against any and all liability
(including but not limited to liabilities, judgments, damages, losses, claims, costs and
expenses,) or any other loss that may occur, arising from or relating to any claim, suit or
proceeding brought against us by another user/ service provider/ third party for reasons
including, but not limited to your breach, non-performance, non-compliance or inadequate
performance by of any of the terms, conditions, representations, obligations or warranties
under these Terms.
15. Termination
- We may terminate the Services immediately without notice to you in any of the
following
circumstances: (1) if the conditions stipulated in the Temporary Suspension have been
established by us; or (2) if we discontinue our association with the Banking Partners;
or
(3) if our Banking Partner notifies us or is of the opinion to terminate your access to
the
Services.
- You agree that the Service will be inaccessible if the TallyPrime is not valid or TSS
is
not renewed or upgraded.
- Upon termination, your right to use the Services will immediately cease.
16. Force Majeure
We shall not be held liable for any breach of these Terms due to any force-majeure event that
prevents or delays performance of its obligations under these Terms such as lockdown,
pandemic, endemic, act of god, fire, lightning, explosion, flood, adverse weather
conditions, power failures, failure in any communication systems, equipment breakdown,
strikes, lock-out or any other cause beyond the control of Tally (“Force Majeure Events”).
However, we will make all reasonable efforts to notify you in the event of such Force
Majeure Events.
17. Changes to Terms
We reserve the right to modify these terms at any time. We may update these terms from time
to time. Any changes will be posted on our website and communication of such updates may be
sent to you on your registered email address. Your continued use of the Services after such
revisions will constitute your acceptance of the new terms.
18. Governing Law
These terms shall be governed by and construed in accordance with the laws of India.
19. Updates
We may send notifications / updates to you on the registered email address on feature updates
and new offerings from Navmaya, its parent - Tally or any of its associates, new Bank
integrations or any other important updates that may be relevant to you.
20. Dispute Resolution and Jurisdiction of Courts
In the event of any dispute/claims arising out of or in connection with these Terms, the said
dispute/claim shall be resolved amicably at the first instance within 30 (thirty) business
days by the Parties. Thereafter, any dispute pertaining to the terms and conditions of this
Agreement which cannot be settled amicably within the aforesaid period shall be settled by a
sole arbitrator to be appointed by mutual agreement of the Parties. The place of arbitration
shall be Bengaluru, Karnataka. The language of the arbitration shall be English. Any award
of the arbitrator whether interim or final shall be subject to the jurisdiction of the
courts in Bengaluru alone.
21. Customer Query
You may contact us with any enquiry or concerns by writing at the coordinates mentioned
below:
Contact: Tally Care - Banking
Navmaya Tech Services Private Limited
AMR Tech Park IIB, No.23 & 24, 3rd Floor,
Hongasandra, Hosur Main Road,
Bangalore 560 068, India
Email: support@tallysolutions.com