India post payment Bank IPPB Terms and Conditions for Mobile Banking

IPPB Terms and Conditions for Mobile Banking 

India post payment Bank IPPB Terms and Conditions for Mobile Banking apply to and regulate the operation of the Mobile banking (the "facility") offered by India Post Payments Bank (“IPPB”). These terms and conditions shall be in addition to any other terms as stipulated by IPPB from time to time.

India post payment Bank IPPB Terms and Conditions for Mobile Banking 

1. Definitions 

In these terms and conditions, unless there is anything repugnant to the subject or context thereof, the expressions listed below shall have the following meanings viz.: 

1.1 "Account(s)" refers to the Customer's bank account(s) maintained with IPPB, to be used for operations through Mobile Banking. 

1.2 "Alert(s)" means the customized messages sent to the Mobile Phone Number as an SMS in response to the Triggers set by the Customer.

1.3 "Alert/Push Facility" shall mean the service provided by IPPB wherein a Customer can obtain specific information pertaining to his Account on his Mobile Phone Number. 

1.4 "Customer" refers to any person holding an Account with IPPB.

 1.5 “IPPB”, “the Bank”, refer to India Post Payments Bank Limited having its registered office at Post Office, Speed Post Centre Building, Market Road, New Delhi - 110 001, India

1.6 "Facility" shall mean mobile banking facility (which provides the Customers, services such as information relating to Account/s, details about transactions and such other services as may be provided on the Mobile Phone Number by IPPB, from time to time). 

1.7 “Customer Care Centre” refers to Customer Care and Phone Banking Service provided by IPPB to the Customer. 

1.8 "Mobile Phone Number" shall mean the number registered/provided by the Customer through the Customer Care Centre or in writing (either through any form provided by IPPB or otherwise), for the purpose of availing the Facility. 

1.9 “Payer” refers to the User who holds a Savings Bank Account with IPPB and intends to transfer money out from the account. 

1.10 "Personal Information" shall mean the information about the Customer obtained in connection with the Facility. 

1.11 "Request/Pull Facility" shall mean facility through which Customers will be able to make requests about their Account/s by sending "key words" through SMS to the Customer Care Centre provided by IPPB for the purpose. 

1.12 “RBI” shall mean the Reserve Bank of India. 

1.13 “SMS” shall mean Short Messaging Service, which is the transmission of short text messages to and from SMS enabled devices including but not limited to mobile phones. 

1.14 "Triggers" shall mean the customized triggers that are required to be set by the Customer with IPPB, which shall enable IPPB to send the Alerts relating to his Account/s on the Mobile Phone Number. 

1.15 “Application” shall mean the Bank’s Mobile Banking application which will be downloaded onto the mobile phone of the Customer. 

1.16 “GPRS” shall mean the General Packet Radio Service. 

1.17 “MPIN” shall mean the Personal Identification Number (password) for the Mobile Banking Service. 

1.18 “Mobile Banking Services” shall mean Mobile Banking Service of the Bank and includes the service over the application/ USSD/ WAP/ SMS/ Missed call Banking. 

1.19 “USSD” shall mean Unstructured Supplementary Service Data. 

1.20 “UPI” shall mean Unified Payments Interface services for Interoperable real-time Push & Pull transactions provided by NPCI. 

1.21 “NUUP” shall mean National Unified USSD Platform, USSD based mobile banking service from NPCI that brings together all the Banks and Telecom Service Providers. In NUUP, a customer can access banking services by just pressing *99# from his/her mobile phones. This service works across all GSM mobile handsets. 

1.22 “IMPS” Inter-bank Mobile Payment Service Under the aegis of National Payments Corporation of India (NPCI), IPPB is offering a new facility, IMPS for transferring funds using a mobile number of the beneficiary with an additional 7 digit MMID. Users of Mobile Banking Service (MBS) will be automatically issued with a MMID for the primary account of MBS. Acceptance of terms & conditions of Mobile Banking Service implies consent of the customer for issue of MMID also. The details of the Service are available on Bank’s website www.ippbonline.net. 

1.23 “SMS Banking” It is a service provided by IPPB which enables customers to perform some financial/ non-financial transactions using SMS. 

1.24 “Missed Call Banking” is a service from IPPB, which involves Banking by giving a Missed Call from a registered mobile number with to pre-defined numbers. 

2. Applicability of Terms and Conditions 

These terms and conditions (“Terms and Conditions”) together with the application made by the Customer and as accepted by IPPB shall form the contract between the Customer and IPPB, and shall be further subject to such terms as IPPB may agree with the other service providers. These Terms and Conditions shall be in addition to and not in derogation of the terms and conditions governing any other product/services provided by IPPB. 

3. Application 

The Customer shall apply to IPPB for use of the Facility (and/or for any changes to the options available under the Facility) in such manner and through such modes as may be specified and made available by IPPB from time to time. 

Application for the Facility made by use of permissible modes as specified by IPPB from time to time shall be accepted only after authentication of the Customer through any mode of verification as may be stipulated by IPPB from time to time as may be decided at the discretion of IPPB. 

Transactions password shall be activated after a minimum period of 7 (seven) working days from the date of receipt of the application for use of the Facility by IPPB. 

4. Eligible Customer 

The Customer desirous of using the Facility should be either a sole Account holder or authorized to act independently. In case of joint Account/s, the written mandate of other account holders authorizing the Customer to use the Facility would be required. All or any transactions arising from the use of the Facility in the joint account shall be binding on all the joint account holders, jointly and severally. 

5. Availability and disclosure 

IPPB will authenticate the Customer by means of verification of the Mobile Phone Number and/or through verification of debit card PIN allotted by IPPB to the Customer or MPIN or through any other mode of verification as may be stipulated at the discretion of IPPB. The unauthorized access and/or use of aforementioned modes of authentication can raise a risk to the security of the Account/s of the Customer. 

Hence, to avoid any legal risks related with use of modes of verification other than digital signatures, the Customer(s) shall ensure maintenance of complete confidentiality, secrecy and protection of the authentication parameters such as Mobile Phone Number, MPIN and debit card PIN allotted to the Customer(s) or any other mode of verification as may be stipulated at the discretion of IPPB. 

The Customer shall not disclose the Mobile Phone Number, MPIN and/or debit card PIN to any other person and shall not respond to any unauthorized SMS/ email/ phone call wherein such details have been asked for. IPPB shall, in no manner whatsoever, be held responsible or liable, if the Customer incurs any loss as a result of the Mobile Phone Number, MPIN and/or debit card PIN and/or any other mode of verification as prescribed by IPPB from time to time being disclosed/ shared by the Customer with any unauthorized persons or in any other manner whereby the security of any of the modes of verification is compromised. 

Therefore, the Customer is solely responsible to maintain the secrecy and confidentiality of the MobilePhone Number and/or debit card PIN and/or any other mode of verification as prescribed by IPPB from time to time without any liability of IPPB in this regard. 

IPPB shall endeavor to provide to the Customer through the Facility, such services as IPPB may decide from time to time. IPPB reserves the right to decide what services may be offered to a Customer on each Account and such offers may differ from Customer to Customer. IPPB may also vary the services offered through the Facility at its sole discretion. 

The Facility is made available to the Customer at his request, at the sole discretion of IPPB and may be discontinued by IPPB at any time, without notice. The Facility is currently available to only to the Customers holding Account/s with IPPB's branches in India. IPPB shall have the discretion to offer the Facility to Non-Resident Indians subject to applicable laws. The access of the Customer to the Facility shall be restricted to Customer availing the Facility through the Mobile Phone Number. 

The instructions of the Customer shall be effected only after authentication of the Customer by means of verification of the Mobile Phone Number, MPIN and/or through verification of debit card PIN allotted by IPPB to the Customer or through any other mode of verification as may be stipulated at the discretion of IPPB. 

The Customer(s) understand that since the transactions are instantaneous in nature, the reversal of the same is not feasible. The Customer(s) understand that no stop payment requests submitted by the Customers would be accepted by IPPB. 

IPPB shall endeavor to carry out the instructions of the Customer promptly, provided that IPPB, shall not be responsible for the delay in carrying out such instructions due to any reason whatsoever, including, but not limited to, failure of an operational system or any requirement of law or IPPB’s internal policies. 

6. Authority to IPPB 

The Customer irrevocably and unconditionally authorises IPPB to access all his Account/s for effecting banking or other transactions through the Facility and to share the Account information with any third parties for the purpose of accepting/ executing such requests of the Customers. 

7. Records 

All records of IPPB generated by the transactions arising out of use of the Facility, including the time of the transaction recorded shall be conclusive proof of the genuineness and accuracy of the transactions. 

8. Instructions 

All instructions for availing the services under the Facility shall be provided through the Mobile Phone Number in the manner indicated by IPPB. The Customer is also responsible for the accuracy and authenticity of the instructions provided to IPPB and the same shall be considered to be sufficient for availing of the services under the Facility. The Alerts would be sent on the Mobile Phone Number, last registered with IPPB. Alerts will not be offered for two Mobile Phone Numbers for the same Account or Account/s under the same user-id. The same Mobile Phone Number cannot be registered for availing the Facility in relation to different Account/s under different user-id. Keywords for various information requests shall be as may be provided for, from time to time, including on the application forms, or as available at the Customer Care Centre. 

Where IPPB considers the instructions to be inconsistent or contradictory it may seek clarification from the Customer before acting on any instruction of the Customer or act upon any such instruction as it may deem fit. IPPB shall have the right to suspend the services under the Facility if IPPB has reason to believe that the Customer's instructions may lead to direct or indirect loss or may require an indemnity from the Customer before continuing to operate the Facility. 

The Customer accepts that all information /instructions will be transmitted to and /or stored at various locations and be accessed by personnel of IPPB.

 9. Accuracy of information 

The Customer undertakes to provide accurate and complete information wherever required and shall be solely responsible for the correctness and completeness of the information provided by him to IPPB at all times, including, but not limited to, for the purposes of availing of the Facility. IPPB shall not be liable for consequences arising out of erroneous information supplied by the Customer. If the Customer suspects that there is an error in the information supplied by Bank to him, he shall advise IPPB as soon as possible. IPPB will endeavor to correct the error wherever possible on a best effort basis. While IPPB will take all reasonable steps to ensure the accuracy of the information supplied to the Customer, IPPB shall not be liable for any inadvertent error, which results in the providing of inaccurate information. 

10. Fees

 IPPB shall have the discretion to charge such fees as it may deem fit from time to time and may at its sole discretion, revise the fees for use of any or all of the Facility, by notifying the Customer of such revision. The Customer may, at any time discontinue or unsubscribe to the said Facility. The Customer shall be liable for payment of such airtime or other charges which may be levied by any cellular service provider in connection with availing of the Facility and IPPB is in no way concerned with the same. The charges payable by the Customer is exclusive of the amount payable to any cellular service provider and would be debited from the account of the Customer on a monthly basis. The Customer shall be required to refer to the schedule of fees put up on the website from time to time. 

11. Funds transfer facility 

The Payer accepts that he will be responsible for keying in the correct details which are required to make fund transfers through the abovementioned facility; such details being specified by IPPB from time to time. In no case, IPPB will be held liable for any erroneous transactions arising out of or relating to the Payer keying in erroneous details required to make fund transfers through the abovementioned facility. 

If the abovementioned facility is made available to the Payer, it may be used for transfer of funds from Account/s to other accounts belonging to third parties maintained at IPPB and/or at any other bank which falls under the network of RBI’s Electronic Fund Transfer or National Electronic Fund Transfer system or Real Time Gross Settlement or Immediate payments System (IMPS) or National Unified Payments System (NUUP). In such an event, the terms applicable to such facilities, in addition to those applicable to the Facility, shall be applicable. 

The liability of IPPB shall only commence subsequent to the debit in the Payer’s account. 

12. Limit of Transactions 

The transaction limit for each product/services provided through Mobile banking shall be as displayed in the respective product/service page on the Website. IPPB may, at its sole discretion, increase or reduce the limit up to the limit as permissible under applicable laws. 

13. Setting triggers and receiving alerts 

IPPB may, in its discretion, not give effect to any Triggers if IPPB has reason to believe (which decision of IPPB shall be binding on the Customer) that the Triggers are not genuine or otherwise improper or unclear or raise a doubt or in case any Triggers cannot be put into effect for any reasons whatsoever. 

The Customer is responsible for intimating to IPPB any change in his Mobile Phone Number or email address or Account details and IPPB will not be liable for sending Alerts or other information over the Mobile Phone Number/email address /fax number recorded with IPPB. 

The Customer acknowledges that to receive Alerts, his Mobile Phone Number must be active and accessible. The Customer acknowledges that if the Customer's Mobile Phone Number remains inaccessible for a continuous period (such period dependent upon service providers) from the time an Alert is sent by IPPB, that particular Alert may not be received by the Customer. 

Triggers will be processed by IPPB after receipt and IPPB shall have the discretion to determine the time taken to process such request. The Customer acknowledges that there shall be an intervening period between receipt of Triggers by IPPB, process of the Triggers and the time that the Alerts are sent. 

The Customer acknowledges that the provision of the Facility is dependent on the infrastructure, connectivity, and services to be provided by service providers engaged by IPPB or otherwise. The Customer accepts that timelines, accuracy, and readability of Alerts sent by IPPB will depend on factors affecting other service providers engaged by IPPB or otherwise. IPPB shall not be liable for non-delivery or delayed delivery of Alerts, error, loss or distortion in transmission of Alerts to the Customer. 

14. Disclaimer of liability 

IPPB shall not be responsible for any failure on the part of the Customer to utilize the Facility due to the Customer not being within the geographical range within which the Facility is offered and which forms part of the roaming network of such cellular service provider, providing services to the Customer availing such roaming facility from the respective cellular service provider. If the Customer has reason to believe that the Mobile Phone Number is / has been allotted to another person and / or there has been an unauthorised transaction in the Account and / or his mobile phone handset is lost, he shall immediately inform IPPB of the same. 

The Customer agrees that IPPB shall not be liable if:

 a) the Customer has breached any of the terms and conditions, contained herein or

 b) the Customer has contributed to or the loss is a result of failure on part of the Customer to advise IPPB within a reasonable time about unauthorized access of or erroneous transactions in the Account by use of the Facility; or 

c) as a result of failure on part of the Customer to advise IPPB of a change in or termination of the Customer's Mobile Phone Numbers. 

d) there has been an unauthorized transaction in the Account as a result of any person having control or custody of telecommunications instrument (such as the mobile handset) so that such instrument may be used to give telecommunications instruction without authorization or any other issue/default/error/technological problem in the telecommunication instrument (such as the mobile handset) or duplication of mobile number / SIM of the Customer such as but not limited to SIM card cloning, virus in handset etc. 

IPPB shall endeavor to provide the Facility on a best effort basis and the Customer shall not hold IPPB liable for non-availability of the Facility or nonperformance by service providers, if any, engaged by IPPB or any loss or damage caused to the Customer as a result of use of the Facility (including relying on the Alerts for the Customer's commercial, investment or business purposes) for causes which are not attributable to IPPB. IPPB shall not be liable in any manner to the Customer in connection with the use of the Facility. 

The Customer accepts that each Alert may contain certain Account information relating to the Customer. The Customer authorizes IPPB to send Account related information, though not specifically requested, if IPPB deems that the same is relevant. 

IPPB shall not be held responsible for the confidentiality, secrecy and security of the personal or Account information being sent through the Facility. The Customer agrees that the access to the Facility shall be only through the Mobile Phone Number and any transaction which originates from the same, whether initiated by the Customer or not, shall be deemed to have originated from the Customer. Under no circumstance, IPPB shall be held liable if the Facility is not available 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 IPPB. IPPB shall not be liable under any circumstances 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 Customer or by any other person. Illegal or improper use of the Facility shall render the Customer liable for payment of financial charges as decided by IPPB or will result in suspension of the Facility for the Customer 

IPPB is in no way liable for any error or omission in the services provided by any cellular or any third party service provider (whether appointed by IPPB in that behalf or otherwise) to the Customer, which may affect the Facility. 

IPPB does not warrant the confidentiality or security of the messages whether personal or otherwise transmitted through the Facility. IPPB makes no warranty or representation of any kind in relation to the system and the network or their function or performance or for any loss or damage whenever and howsoever suffered or incurred by the Customer or by any person resulting from or in connection with the Facility. 

Without limitation to the other provisions of this terms and conditions, IPPB, its employees, agent or contractors, shall not be liable for and in respect of any loss or damage whether direct, indirect or consequential, including but not limited to loss of revenue, profit, business, contracts, anticipated savings or goodwill, loss of use or value of any equipment including software, whether foreseeable or not, suffered by the Customer or any person howsoever arising from or relating to any delay, interruption, suspension, resolution or error of IPPB in receiving and processing the request and in formulating and returning responses or any failure, delay, interruption, suspension, restriction, or error in transmission of any information or message to and from the telecommunication equipment of the Customer and the network of any cellular service provider and IPPB's system or any breakdown, interruption, suspension or failure of the telecommunication equipment of the Customer, IPPB's system or the network of any cellular service provider and/or any third party who provides such services as is necessary to provide the Facility. 

Notwithstanding anything in the contrary provided in this terms and conditions, IPPB shall not be involved in or in any way liable to the Customer for any dispute between the Customer and a cellular service provider or any third party service provider (whether appointed by IPPB for such purpose or otherwise). 

The Customer agrees that India post payment Bank IPPB may hold and process his personal information concerning his Account/s on a computer or otherwise in connection with the Facility as well as for analysis, credit scoring, and marketing. The Customer also agrees IPPB may disclose, in strict confidence, to other institutions, such information as may be reasonably necessary for reasons inclusive of but not limited to the participation in any telecommunication or electronic clearing network, in compliance with legal directive, for credit rating by recognized credit scoring agencies, and for fraud prevention. 

The Customer shall not interfere with or misuse in any manner whatsoever the Facility and in the event of any damage due to improper or fraudulent use by the Customer, the Customer shall be liable for damages to IPPB. 

The Customer is solely responsible for protecting his debit card PIN/ Mobile banking password/ MPIN or Mobile Phone Number and any other password that may be issued by IPPB for the use of the Facility.

 IPPB will not be liable for: 

(a) any unauthorized use of the Customer's debit card PIN, Mobile banking password/MPIN or Mobile Phone Number or for any fraudulent, duplicate or erroneous instructions given by use of the Customer's debit card PIN, Mobile banking password or Mobile Phone Number; 

(b) acting in good faith on any instructions received by IPPB from or on behalf of the Customer in relation to the Facility; 

(c) error, default, delay or inability of IPPB to act on all or any of the instructions given by the Customer 

(d) loss of any information/instructions in transmission; 

(e) unauthorized access by any other person to any information /instructions given by the Customer or breach of confidentiality; 

(f) IPPB will not be concerned with any dispute between the Customer and any cellular service provider and/ or any third party providing such services, through which the Facility is being availed by the Customer. IPPB makes no representation or gives no warranty with respect to the quality of the service provided by any cellular service provider. 

IPPB may provide any other services as a part of the Facility and IPPB shall not be liable for the oversight on part of the Customer to update himself with the addition of services which have been included in the Facility and specific services for each product as may be provided on the website. 

15. Indemnity 

In consideration of IPPB providing the Facility, the Customer, at his own expense, agrees to indemnify, defend and hold harmless, IPPB, its directors and employees, representatives, agents and/or the Affiliates, as the case may be, against all losses, damages, expenses, actions, claims, demands and proceedings whatsoever, that IPPB may incur, sustain, suffer or be put to at any time as a consequence of acting on or omitting or refusing to act on any instructions given by the Customer or otherwise for use of the Facility. 

The Customer agrees to indemnify, defend and hold harmless IPPB against any loss incurred by the Customer due to failure to provide the services offered under the Facility or any delay in providing the services due to any failure or discrepancy in the network of the cellular service provider. 

The Customer agrees to indemnify, defend and hold harmless, IPPB from any losses occurring as a result of the: 

i. the Customer permitting any third parties to use the Facility. 

ii. the Customer permitting any other person to have access to his mobile phone or as a consequence of leaving the mobile phone unattended or loss of mobile phone. 

16. Modification 

IPPB shall have the absolute discretion to amend or supplement any of the Terms and Conditions, features and benefits in relation to the Facility. IPPB may communicate the amended Terms and Conditions by hosting the same on a website or in any other manner as decided by IPPB. The Customer shall be responsible for regularly reviewing these Terms and Conditions, including amendments thereto as may be posted on the website and shall be deemed to have accepted the amended Terms and Conditions by continuing to use the Facility. Any change in the Terms and Conditions (other than interest charges and rates) shall be communicated to the Customer, in the manner as aforesaid, one month prior to the date of their implementation. 

17. Termination 

The Customer may request for termination of the Facility at any time by giving a written notice of at least 15 days to IPPB. The Customer will continue to be responsible for any transactions that may have been effected through the Mobile Phone Number in relation to the Facility prior to such cancellation of the Facility. 

IPPB may, at its discretion, withdraw temporarily or terminate the Facility, either wholly or in part, at any time without giving prior notice to the Customer. IPPB may, without prior notice, suspend the Facility at any time during which any maintenance work or repair is required to be carried out or in case of any emergency or for security reasons, which require the suspension of the Facility. IPPB shall endeavor to give a reasonable notice for withdrawal or termination of the Facility. 

The closure of all Account/s of the Customer will automatically terminate the Facility. IPPB may suspend or terminate Facility without prior notice if the Customer has breached these Terms and Conditions or IPPB learns of the death, bankruptcy or lack of legal capacity of the Customer. 

18. Notices 

IPPB and the Customer may give notice under these Terms and Conditions electronically to the mailbox of the Customer (which will be regarded as being in writing) or in writing by delivering them by hand or by sending them by post to the registered address of the Customer, last recorded with IPPB and in case to IPPB at its office at Post Office, Speed Post Centre Building, Market Road, New Delhi - 110 001, India. In addition, IPPB shall also provide notice of a general nature regarding the Facility and the Terms and Conditions, which are applicable to all Customers using the Facility, on its website and/ or also by means the customized messages sent to the Customer over his mobile phone as short messaging service ("SMS") or other mode as may be deemed fit by IPPB. Such notice will be deemed to have been served individually to each Customer. 

19. Governing Law 

Any dispute or differences arising out of or in connection with the Facility shall be subject to the exclusive jurisdiction of the Courts of New Delhi. IPPB accepts no liability whatsoever, direct or indirect for noncompliance with the laws of any country other than that of India. The mere fact that the Facility can be accessed by a Customer in a country other than India does not imply that the laws of the said country govern these terms and conditions and/or the operations in the Account/s of the Customer and/or the use of the Facility.

20. India post payment Bank IPPB Miscellaneous Terms and Conditions

IPPB may at any time provide the Customer with details of the various products, offers and services offered or to be offered by IPPB through the Facility.

 The Customer authorizes IPPB to utilize the information provided by him for availing the Facility, for the purposes of information provided by IPPB in its applications, surveys, mailing lists and other purposes. IPPB may use this information to develop mailing lists that may be used by companies with whom IPPB shall work to develop marketing offers for the Customers. 

IPPB reserves the right to revise the policies, features, and benefits offered through the Facility from time to time and may notify the Customer of any such revisions/changes in any manner as deemed appropriate. The Customer will be bound by such revisions/changes unless the Customer terminates the Facility. 

The Customer shall comply with all such terms and conditions as IPPB may prescribe from time to time for facilities/ services availed of by the Customer. All such transactions effected by or through facilities for conducting remote transactions including the internet, world wide web, electronic data interchange, Customer Care Centre, teleservice operations (whether voice, video, data or combination thereof) or by means of electronic, computer, automated machines network or through other means of telecommunication, established by or on behalf of IPPB, for and in respect of such facilities/ services offered, shall constitute legally binding and valid transactions when done in adherence to and in compliance with the terms and conditions prescribed by IPPB for such facilities/ services, as may be prescribed from time to time. 

 21. India post payment Bank IPPB Terms and Conditions for Mobile Banking Set-Off

(i) IPPB and its group companies shall have the paramount right of set-off and lien, irrespective of any other lien or charge, present as well as future on the deposits of any kind and nature (including fixed deposits) held/ balances lying in any other Account/s of the Customer maintained with IPPB, whether in single name or joint name(s) and on any monies, securities, bonds and all other assets, documents and properties held by/ under the control of IPPB (whether by way of security or otherwise pursuant to any contract entered/ to be entered into by the User in any capacity) towards the satisfaction of the Customer’s liability under the Facility. IPPB is entitled without any notice to the Customer, to settle any indebtedness whatsoever owed by the User to IPPB, (whether actual or contingent, or whether primary or collateral, or whether joint and/or several) hereunder or under any other document/ agreement, by adjusting, setting-off any deposit(s) and/or transferring monies lying to the balance of any Account/s held by the Customer with IPPB notwithstanding that the deposit(s)/ balances lying in such Account/s may not be expressed in the same currency as such indebtedness. IPPB's rights hereunder shall not be affected by the Customer’s bankruptcy, death or winding up. It shall be the Customer’s sole responsibility and liability to settle all disputes/ objections with any such joint account holders. 

(ii) In addition to the above mentioned right or any other right which IPPB may at any time be entitled whether by operation of law, contract or otherwise, IPPB is authorized / will be entitled: (a) to combine or consolidate at any time all or any of the Accounts and liabilities of the Customer with or to any branch of IPPB; (b) to sell or otherwise dispose off any of the Customers’ securities or properties held by IPPB by way of public or private sale or otherwise without having to institute any judicial proceeding whatsoever and retain/appropriate from the proceeds derived there from the total amounts outstanding to IPPB from the Customer, including costs and expenses in connection with such sale or disposal; and (c) in case of cross currency set-off, to convert an obligation in one currency to another currency at a rate determined at the sole discretion of IPPB